OneShield Software, a provider of core software solutions to property and casualty insurance companies, has received a $50m follow-on investment.
The round was led by Pacific Lake Partners with participation from existing investors, including Bain Capital Credit, Maven Equity Partners, WSC & Company, and Peterson Partners.
Founded in 1999, OneShield offers SaaS and standalone cloud-based enterprise-class policy management, billing, claims, rating, business intelligence, and smart analytics software solutions for P&C insurers and MGAs of all sizes.
The company said this round of funding will accelerate investments in product innovation and high-quality talent acquisition.
Cameron Parker, CEO at OneShield, said, “P&C insurers and MGAs have never faced a more compelling set of growth opportunities. Agility and data management are now the primary bases of competition in many insurance market segments, and OneShield exists to help our customers succeed in these objectives.
“With this new funding, our team is laser-focused on product enhancements that will help our customers adapt to evolving customer expectations, launch new insurance products quickly, and leverage data for better decision making.”
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