MountainSeed, an Atlanta company that buys bank and credit union properties, raised $38 million in capital.
The company said in a press release said that equity firm Long Ridge Equity Partners made a minority investment that will be used for an AI-focused valuation and appraisal review platform, among other things.
“Banks and credit unions … are the backbone of local economies across this country, and we are excited to serve them in new ways as our innovations in AI and automation accelerate,” Carl Streck, MountainSeed’s founder and CEO, said in the release. “Partnering with Long Ridge felt right from the first conversation.”
Kevin Bhatt and Rachel Philbin of Long Ridge will join MountainSeed’s board.