Key Account Executive, Blend
$250-300k
OTE
OTE is 50/50 base salary plus commission. Plus equity
Digital lending platform
Job no longer available
Digital lending platform
1001+ employees
Job no longer available
$250-300k
OTE
OTE is 50/50 base salary plus commission. Plus equity
1001+ employees
Company mission
To provide better lending for everyone, streamlining the end-to-end customer journey for banking products.
Role
Who you are
- 8+ years of direct software sales experience, specifically strategic level SaaS
- Track record of negotiating, structuring and executing highly complex agreements
- Prior experience leading cross-functional teams through large deal close processes
- Strong ability to articulate contractual, technical, and financial value points to customers, including executive leaders
- Excellent communication and presentation skills with experience presenting to C-level executives
What the job involves
- Blend is hiring exceptional account executives responsible for generating new sales and growing existing customer revenue through transforming the technology that powers their lending processes
- As a Key Account Executive, you will focus on key sales to the largest financial institutions and mortgage lenders in the country, working on deals that will revolutionize the future of lending
- This will include diving deep into your customers’ and prospective customers’ organizations, understanding the business stakeholders, strategic objectives, and operating procedures
- You will use this knowledge to acquire new customers, and increase current customers’ utilization of the Blend platform, as well as sell and implement new features and product offerings
- Execute on all aspects of the sales experience while building and managing relationships with key decision-makers
- Run complex sales deals and guide customers through every aspect of the procurement process (including regulatory, information security and compliance) from initial contact to close
- Prospect for new clients, build and deliver product presentations, develop sales presentations and proposals
- Develop a keen understanding of the Blend product, the mortgage market, and our customers’ needs
- Partner closely with Product, Professional Services, Engineering and Legal to deliver an exceptional customer experience and maximize revenue
Our take
Recent years experienced a housing boom, with more than 13 million mortgages closing in the United States. This came despite restrictions limiting traditional ways of buying property. In short, the vast majority of housing deals were done online.
One of the companies fueling this upsurge was Blend, a digital banking platform with the aim of simplifying the mortgage process. The platform is used by major banks and financial institutions to offer mortgages and consumer loans, with Blend processing an average of $5 billion in transactions every day.
Due to the surge in demand, Blend’s revenue increased by 90% in the past few years. While we saw low-interest rates and a rise in demand for mortgage insurance, the demand for Blend’s services could wane if interest rates rise again. To counter any threats, Blend set out a "path to profitability" in 2023 that includes a 28% reduction in its employee base, a product suite enhancement sweep, and a shift in financial leadership.
Freddie
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (last 2 of 6 rounds)
Jan 2021
$300m
SERIES G
Aug 2020
$75m
SERIES F
Total funding: $665m
Company benefits
- Comprehensive health benefits
- Wellness program that covers a variety of activities, gym memberships, and more
- Partnerships to support all of life’s milestones: Origin Financial Wellness, Compsych Employee Assistance Program, RocketLawyer Legal Plan, and more
- Various leave programs including 16 weeks of paid parental leave with no tenure requirement
- Thoughtful, regular performance reviews
- Support for workshops and lectures to develop your craft
- Competitive compensation packages, meaningful equity, and 401(k) plan
- “Employee-first” environment, where most employees can work wherever they choose
- Flexible work schedule
- Open vacation policy
Company values
- Advocacy
- Authenticity
- Integrity
Company HQ
Chinatown, San Francisco, CA
Articles
Leadership
Nima Ghamsari
(Head)They studied Computer Science at Harvard before working for 4 years in Business Development and Engineering at Palantir Technologies. They left in April 2012 to co-found Blend in May.
Erin James Collard
(Board Director)Head trader at Peter Thiel's fund Clarium Capital Management, co-founded Blend and served as CFO for 6 years before stepping down.
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