Why Centana Invested in Reggora: Applying Technology and Speed to Appraisals
Author: Sarah Kim | Co-Authors: Jay Lee, Jake Madnick
Few steps in the mortgage process frustrate lenders, borrowers, and appraisers quite like the appraisal. It is a vital part of underwriting, yet it has long been handled through outdated, manual systems that slow down closings and stretch what should be a straightforward step into days of uncertainty.
Knowing What a Home Is Worth: The Appraisal Bottleneck
At its core, the appraisal is about trust. Determining the true value of a property is essential for nearly every participant in the housing ecosystem. Lenders rely on accurate valuations to underwrite loans responsibly, insurers use them to assess risk and set coverage levels, and borrowers depend on them to assure that one of the largest financial commitments of their life is fairly priced. Yet despite its importance, the appraisal process has long been one of the slowest and least modernized steps in a mortgage transaction.
Much of the industry’s infrastructure was shaped by regulatory changes rather than by innovation. Following the savings and loan crisis of the 1980s, governance of appraisers became more formalized, and the 2008 financial crisis drove widespread adoption of appraisal management companies under new federal rules. These steps established important safeguards, but they left in place processes that remained heavily manual and difficult to modernize.
That rigidity is increasingly at odds with the realities of today’s housing market. After years of suppressed activity caused by the lock-in effect of historically low interest rates, transaction volumes are beginning to rebound. The share of homeowners with mortgages under 4 percent has fallen from 65 percent in 2022 to just over 50 percent in 20251, while housing inventory has climbed to more than one million active listings2. Borrower demand is returning, and with it comes rising pressure on lenders to deliver faster, more transparent experiences.
In a world where consumers expect near-instant access to information and services, waiting a week or more for an appraisal no longer makes sense. The industry needs a solution that preserves the accuracy and compliance that make appraisals indispensable, while removing the inefficiencies that make them a bottleneck.
Reggora was founded to change that reality. Today, we are excited to announce our Series D investment in Reggora, a leading appraisal technology company modernizing residential real estate valuation.
From Bottleneck to Backbone: Powering the Modern Appraisal Process
Reggora has established itself as a true workflow backbone for appraisal management, bringing technology to the center of a process that has historically been fragmented and manual. By integrating directly into loan origination systems, Reggora enables lenders to manage appraisal activity within the same environment where they originate loans.
From that position, the company has reimagined the end-to-end appraisal experience. Lenders can order and track appraisals in real time, while appraisers receive fast automated payments that eliminate friction and build loyalty. Underwriting teams benefit from AI-driven quality control that flags errors and identifies inconsistencies before they become issues, reducing repurchase risk and accelerating loan decisions. What’s more, lenders gain access to data and analytics that provide visibility into performance, turn times, and costs in ways that were previously unavailable. The result is a faster, smarter, and more transparent appraisal process that gives lenders a true competitive edge.
Building on its role as the central workflow engine, Reggora has also expanded its offerings with the Appraisal Marketplace, known as AMP. This vendor-agnostic fulfillment marketplace enables lenders to source appraisals directly through the platform. Leveraging real-time data flowing through Reggora, AMP uses an intelligent matching engine that evaluates geography, appraiser capacity, historical turn times, quality scores, and property type expertise. The system continuously refines its assignments based on performance data to ensure the right appraiser is matched to the right job. By pairing the scalability of software with the reliability of its fulfillment network, Reggora is giving lenders flexibility and speed, helping to drive an increasingly digital mortgage market.
Centana’s Track Record in Modernizing Regulated Markets
At Centana, we invest in companies that modernize critical financial services workflows, particularly in sectors where outdated infrastructure slows down essential transactions. Real estate, insurance, and care delivery are all areas where better technology can create trust, speed, and efficiency. Our investments in companies like CertifID, ZestyAI, First Connect, and The Helper Bees reflect this belief and shows how purpose-built platforms can reshape vital markets tied to the home.
Reggora fits squarely within that vision as they tackle one of the most important yet slow-to-innovate parts of the mortgage process with a leadership team we know well and respect. We have had the privilege of getting to know Brian Zitin, the CEO of Reggora, over the past few years and have been consistently impressed with his resilience and clarity of vision. Brian and his co-founder and CTO, Will Denslow, have positioned Reggora to become a technology leader in appraisal management, and we are excited to support them as they take the next stage of their journey.
From Weeks to a Day: Reggora’s Next Chapter
For decades, the industry has accepted that appraisals take a week or more, slowing down closings and frustrating borrowers. Reggora is proving that no longer has to be the case. The company’s upcoming 24-hour appraisal product marks a breakthrough for the mortgage market, showing that a process once seen as a constraint can instead set a new standard for speed and efficiency. By pairing its proprietary fulfillment network with deeply integrated technology, Reggora is charting the course towards an appraisal experience for a modern, digital mortgage market.
Looking ahead, we believe the appraisal industry is at a turning point. Rising borrower demand, a gradual thaw in housing activity, and continued pressure on lenders to close loans faster all point to a market that will increasingly favor platforms combining speed, intelligence, and compliance. Reggora is at the forefront of this shift, helping to ensure that appraisals are no longer a point of friction but a driver of efficiency in mortgage lending.
We are proud to partner with Brian, Will, and the Reggora team as they continue to modernize a critical step in the homebuying journey and help set a new standard for the mortgage industry.
[1] Federal Housing Finance Agency. (2025, June). National Mortgage Database (NMDB) aggregate statistics.
[2] Realtor.com. (2024, July). National market trends: Active listing count.
Important Disclosures
The information contained herein is for informational purposes only and should not be construed as investment advice or an offer, solicitation, or recommendation to buy or sell any security or investment product.
This document contains forward-looking statements. Actual results may differ materially from those anticipated in these statements. These statements involve risks and uncertainties which could cause actual results to differ.
Performance metrics and market statistics referenced in this document are based on historical data and past performance does not guarantee future results.
