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Insurance Cloud Company One Inc Completes $15.5 Million Financing Led by American Family Ventures and Centana Growth Partners
May 2, 2017 9:04:00 AM
Demonstrates insurance industry shift to cloud and digital engagement solutions
May 2, 2017
One, Inc., a leading provider of cloud-based software and payments solutions for the insurance industry, today announced that the company raised an over-subscribed $15.5 million financing co-led by American Family Ventures and Centana Growth Partners with participation from existing investors AXA Strategic Ventures and MassMutual Ventures. The new investment comes just months after the company’s Series B round, and brings One, Inc.’s financing total to over $52 million.
The capital infusion will allow One, Inc. to meet increasing demand from tier 1 insurance carriers, significantly grow its team, and expand globally. This is a natural progression for One, Inc., which has experienced over 100% annual growth over the last few years.
“Welcoming Centana Growth Partners and American Family Ventures to an already strong investor group has us well positioned to create the first true SaaS based insurance platform that can be deployed without development.” said Christopher W. Ewing, President & CEO of One, Inc. “As we move into the execution phase of our business, we are excited to have Centana and American Family as part of our team as both firms have deep expertise in growing SaaS based P&C businesses.”
“One, Inc. is re-shaping how major insurance firms can service their customers and roll out new products,” said Eric S. Byunn, Partner at Centana Growth Partners, who will join the One, Inc. Board of Directors as part of this financing. “We’re excited to join with leading insurance firms in partnering with One, Inc. which we believe is distinct in its purpose, its powerful SaaS technology, and impressive customer base.”
“Our investment in One, Inc., aligns with American Family Ventures’ commitment to strategic investments in emerging technologies and other solutions that can benefit insurance consumers and generate financial returns. By achieving that dual objective, we create a continuum of customer-driven innovation that helps to differentiate American Family Insurance in the marketplace,” said Dan Reed, managing director at American Family Ventures.
ABOUT CENTANA GROWTH PARTNERS
Centana Growth Partners is a growth equity firm that provides capital to rapidly growing companies in the financial services ecosystem, including businesses which operate in the financial services, financial technology and related enterprise technology areas, in order to accelerate or sustain their growth. Centana’s principals have decades of experience working with successful companies in these sectors, as well as a strategic network ideal for helping companies seeking to sell into the financial services ecosystem. Centana Growth Partners has offices in New York and Palo Alto. For more information visit www.centanagrowth.com
ABOUT AMERICAN FAMILY VENTURES
American Family Ventures (AFV) is the venture capital arm of American Family Mutual Holding Company (American Family Insurance), a growing Fortune 500 multi-line insurance company that sells its products nationally through agent, direct and partner-assisted distribution channels. AFV is focused on generating superior financial returns from early through growth stage investments in companies that may influence the future of risk management and help American Family Insurance deliver on its commitment to proactively protect policyholders. For more information, please visit www.amfamventures.com
ABOUT AXA STRATEGIC VENTURES
AXA Strategic Ventures (ASV) is the venture capital fund backed by AXA, the leading global insurer and asset manager. ASV manages $250M and invests in technologies relevant to the insurance and asset management industries such as enterprise software, fintech as well as consumer technologies. With offices in San Francisco, New York, London and Paris, ASV’s initial focus is on investments in North America, Europe and Middle East. For more information, please visit www.axastrategicventures.com
ABOUT MASSMUTUAL VENTURES
MassMutual Ventures LLC backs entrepreneurial companies that are transforming the insurance and investment services markets through technology and business model innovation. Key areas of investment focus include fintech, data analytics, cybersecurity, digital health, and enterprise software. MassMutual Ventures leads or joins investments into companies that are poised to create significant enterprise value through differentiated innovation and focused execution. Massachusetts Mutual Life Insurance Company (MassMutual) is the parent company of MassMutual Ventures LLC. For more information, please visit www.massmutualventures.com
ABOUT ONE, INC.
One, Inc. provides an integrated cloud-based platform designed to transform the way insurance companies interact with their customers. One, Inc.’s technology platform combines core insurance software functions including policy administration, rating and billing with data analytics, CRM, payment processing and agency management—all in one solution—to enable insurance companies to modernize their operations and offer superior solutions and service to their customers. For more information, please visit www.oneincsystems.com