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Blend Reports Third Quarter 2021 Financial Results Blend Platform segment achieves strong revenue growth driven by high retention , deepening of customer relationships and new logo wins ; Raises full year 2021 revenue guidance midpoint by $ 13 million November 10 , 2021 SAN FRANCISCO -- ( BUSINESS WIRE ) -- Blend Labs , Inc. ( NYSE : BLND ) , a leader in cloud banking software , today announced financial results for the third quarter ended September 30 , 2021 . Financial and Operating Highlights • Total revenue of $ 89.6 million , net of $ 4.2 million of underwriter commissions related to Title365 ( reflecting a change from Title365's predecessor accounting policy , under which the total revenue would have been $ 93.8 million * ) ; Blend Platform segment revenue of $ 35.1 million , up 26 % year - over - year , and up 9 % sequentially ; Total banking transaction volume of over 525,000 , up 24 % year - over - year ; Title365 segment revenue of $ 54.5 million , net of $ 4.2 million of underwriter commissions ( reflecting a change from Title365's predecessor accounting policy , under which the Title365 segment revenue would have been $ 58.7 million * ) ; Company raises full year 2021 revenue guidance midpoint by $ 13 million . Customer Growth and Innovation Increased our total customer base by 17 accounts , including Prosperity Bank , a large regional bank with approximately $ 37 billion in assets ; Drove success for recently - signed fintech customers , including Valon Mortgage , UpEquity , and Accept , Inc .; Deepened existing customer relationships through deployments and adoption of additional offerings , including with American Pacific Mortgage , KeyBank , PRMG , Frost Bank , and BMO Harris Bank ; Launched Blend Income Verification software product , which customers can add on for an incremental fee , with over 50 customers signed to date . " Our Blend Platform segment achieved record quarterly revenue in the third quarter , and we built on our business momentum by adding new customers across verticals , innovating to expand our existing customer relationships , and launching and selling new products , " said Nima Ghamsari , Head of Blend . " On the new product front , we successfully launched our Blend Income Verification product in the third quarter , and to date , we have signed over 50 customers . Overall , we are confident in our progress both on the Blend Platform and integration of the Title365 business , and this confidence is reflected in our improved financial outlook for full year 2021 , " Mr. Ghamsari continued . * Included for illustrative purposes only . Please see discussion on change in accounting policy below .