OneShield Software (“OneShield”), a leading provider of core software solutions to P&C insurance companies, today announced a growth investment from a private investor group led by Bain Capital Credit, LP and Pacific Lake Partners. The growth funding will help accelerate OneShield’s continued expansion within the P&C insurance software market. The financial terms of the investment were not disclosed.
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Founded in 1999 and headquartered in Marlborough, MA, OneShield’s product portfolio includes SaaS and stand-alone cloud-based enterprise-class policy management, billing, claims, rating, business intelligence, and smart analytics software solutions to P&C insurers of all sizes.
“OneShield has made significant progress toward our strategic objectives in recent years. We’ve built a comprehensive product portfolio and increased our partnerships with many leading P&C insurance carriers, all while focusing on investing and strengthening our delivery capabilities,” said Glenn Anschutz, who served as CEO of OneShield for 20 years before recently taking on the role of Chairman and Chief Strategy Officer. ”
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This carefully executed growth strategy resulted in nearly tripling our recurring revenue over the past three years. Partnering with Bain Capital Credit and Pacific Lake will help us further accelerate this strategy while continuing to maintain the highest levels of customer service.”
“We are excited to partner with OneShield on its next phase of growth, especially as the digital transformation of the P&C insurance software market accelerates and as the Company builds upon its deep roots in the industry,” said David Healey, a Vice President at Bain Capital Credit. “OneShield continues to grow its innovative platform through organic growth and recent new business wins, including several startup insurers, which represent a particularly strong niche for the OneShield team. We believe the Company is well-positioned for future success.”
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