No-code business rule and process automation platform Decisions has pulled in $40m in funding from Aldrich Capital.
The growth equity firm invested into Decisions to support the growth and development of new products and services.
Virginia-headquartered Decisions is a workflow automation and business rule engine which is used in the insurance, finance, mortgage, healthcare, supply chain, lending, and manufacturing industries.
Insurance firms can leverage Decisions to support a range of processes including automating the creation of the quote-to-cash binder, which helps accelerate the launch of new policies.
The company offers an advanced rule engine which can simplify the policy lifecycle, from construction, pricing, commissions and claims. Alongside this, insurers can access flexible policy construction which is backed by rules and automated data connection.
Decisions founder Carl Hewitt said, “After bootstrapping Decisions for a number of years, we evaluated a large number of potential partners. We selected ACP because of the ability to work directly with a team that has demonstrated the ability to scale businesses – both ones the ACP partners founded and ones they have invested in.
“Businesses are turning to process automation, business rules and machine learning to increase productivity – Decisions, with ACP help, is poised to continue its leadership in these segments.”
Last year, Aldrich Capital closed its debut private equity firm with a capital pool of $256m to invest across the US. Targeted sectors for funding include FinTech, app software enterprises, and healthcare IT.
The firm has previously invested into electronic payments provider Paymerang, deploying $26m into the company to further the growth of its products and operational infrastructure.
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