Risk and insurance SaaS company Origami Risk has picked up an equity investment from Spectrum Equity.
The investment, which is for a minority stake, is the first institutional capital commitment to Origami. Through this deal, the company hopes to access additional insights and resources, and to make accretive acquisitions.
Origami is a risk and insurance technology platform for risk management staff across insured corporate and public entities, to insurance carriers, brokers, TPA’s and risk consultants. The company offers a selection of products including MIS, GRC, Claims, Safety, Analytics, Underwriting and Data Tools.
Through the technology, users can integrate workflows, collect data across disciplines, create analysis and automatically act on generated insights.
Origami Risk CEO Robert Petrie said, “We are excited to partner with Spectrum Equity and look forward to leveraging Spectrum’s expertise with SaaS businesses and domain knowledge of risk and information services sectors.
“Our singular focus on client success will continue to drive our innovation and business model, which has always centred on delivering the best available technology and deeply skilled experts in order to help our customers meet their business objectives.”
Earlier in the year, Spectrum Equity sold its stake in financial reporting company Trintech during a majority recapitalisation by Summit Partners.
Last year, the north American market dominated the data and analytics sector, with it accounting for around 80 per cent of the total $2.1bn deployed in the sector, according to data by FinTech Global.
Copyright © 2018 FinTech Global
