Aquiline substantially contributed in building our business. Unlike other private equity firms, I always felt like I was talking to my partners. Eleven years post IPO and I still speak with Chris Watson and Jeff Greenberg regularly.

Aquiline has a good blend of senior operating partners who had deep experience in our industry, coupled with smart financial minds and expertise. They also focused on not just the right financial outcome for them, but the right ultimate outcome for the management team and wider staff. 

I am not sure if another private equity firm would have had the capability to buy ERS from IAG back in 2013. It was only the combination of Aquiline's deep sector knowledge, combined with their partners' experience of actually running companies, that enabled it to get comfortable with the value creation thesis and the relative risk / reward in the investment.

Partnering with a firm that has a focus on, and deep roots in, financial technology is invaluable when transforming a business in a changing environment. Aquiline truly understands the marketplace and the opportunities for value creation and it has been a pleasure to be on this journey with them.

Having spent months researching our space prior to their first call, Aquiline had a very specific plan and theory about what they would like to do to help us recognize greater value. They have done exactly what they said they were going to do, and much more.

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Our private equity strategy is centered around businesses that are well established in their niche but could be much more. We look at the broader financial economy and the plumbing behind it for assets that may not be glamorous but are important. As partners, we let those organizations take a more ambitious tack, supporting aggressive growth initiatives and other paths to equity value creation.

We want partners who draw value from our financial services reach, and look for them in business services, software, and healthcare as well as the financial sector.

The private equity team seeks to invest thematically, looking at industry trends and then zeroing in on niches of interest. 

Investments tend to be $20-200 million, either funded all at once or over time. We move quickly and generally do not shy away from tough carve-outs and other complicated transaction types.

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Our venture team invests in early and growth-stage technology and services companies with transformative potential for insurance and other financial services sectors. Drawing insights from our portfolio companies and much larger financial institutions in our industry network, we look for promising new technologies matched to the industry’s pain points.

We aim to bend the curve, leveraging our relationships to get entrepreneurs in front of the corporate decisionmakers who can bring step changes as potential clients or partners.

The venture team looks at the bottlenecks and inefficiencies experienced by insurers, asset managers, and other traditional financial institutions to understand market needs and corresponding opportunities for emerging fintech, insuretech, and enterprise technology.

Typical investments range from $3-15 million in companies with at least $1 million in annual recurring revenue. ATG can be the first institutional capital or participate in later rounds as a lead or co-lead investor.

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New York, NY and London, UK – May 26, 2020 — Aquiline Capital Partners, a global private investment firm specializing in financial services and technology, today announced the final close of its fourth private equity fund, the Aquiline Financial Services Fund IV (the “Fund”). The Fund closed with more than $2 billion in total commitments, exceeding its target of $1.5 billion. 
Aquiline has raised the new fund from investors around the world and continues its strategy of investing in businesses in the key industries of the global financial services sector: financial technology, insurance, investment management, business services, credit and healthcare. To date, the Fund has made three equity investments, all of which the firm sees as an opportunity to drive value creation by supporting management with the firm’s strategic, operational and technology capabilities. 
The Fund has made investments in the following companies:

-	CoAdvantage, a professional employer organization (PEO) that provides a range of insurance and human resources solutions for small and mid-sized companies

-	Ontellus, a medical records retrieval and claims evaluation services company for insurance carriers and law firms

-	Elm Street Technology, a real estate technology and marketing services provider

“Today’s dynamic market conditions are creating significant disruptions across financial services, technology and healthcare that we believe will present compelling investment opportunities for us,” said Jeff Greenberg, Chairman and CEO of Aquiline. “We look forward to building on the global momentum we have established and continuing to serve as a trusted partner to our portfolio companies through our industry expertise, operating capabilities and technology know-how.” 
  
The Fund represents the fourth private equity investment fund managed by Aquiline and focused on the financial services sector. 

About Aquiline Capital Partners LLC

Aquiline Capital Partners, founded in 2005, is a private investment firm based in New York and London investing in businesses across the financial services sector in financial technology, insurance, investment management, business services, credit and healthcare. The firm has $5.3 billion in assets under management as of December 31, 2019. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit: www.aquiline.com.


Aquiline Closes Aquiline Financial Services Fund IV

health-iq

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--May 8, 2019--Health IQ Insurance Services (Health IQ), the nation’s fastest growing life insurance company, today announced it has secured $55 million in Series D funding led by Greenspring Associates, Aquiline Technology Growth, Hanwha Asset Management, as well as additional financing from existing investors such as Andreesen Horowitz and others. Health IQ’s mission is to improve the world’s health by rewarding runners, cyclists, weightlifters, well-managed diabetics, and other Americans living a healthy lifestyle with lower rates. Since pioneering the use of science and data to measure the impact of healthy lifestyles, Health IQ has experienced rapid growth.


“Consumers are responding well to our lower rates. Our company has reached $21 billion in client coverage and is adding an additional $2 billion every few weeks. Since our last funding announcement in 2017 our coverage amount has tripled. Health IQ has grown from seven billion to 21 billion in coverage,” said Health IQ CEO Munjal Shah.

Since first selling policies in 2016, Health IQ has been able to use its science and proprietary data to increase the discount that consumers get when buying life insurance. In the last three years, the company’s savings for clients has increased from 4% up to 41%. Today the average life insurance client that works with Health IQ will save $4,289 with rate savings and up to $6,279 through underwriting savings over the course of a 30-year policy.

“At Greenspring, we’re always looking for market leaders and companies that demonstrate momentum. That’s why we’re investing in Health IQ, one of the nation’s fastest growing new life insurance companies. We’re excited to be part of Health IQ’s growth going forward,” said Jim Lim at Greenspring Associates, an $8.8 billion firm that supports promising companies throughout their lifecycles.

Over the last three years Health IQ has further innovated by offering new products like special rate life insurance for well managed diabetics, special rate disability insurance, and other products.

“What drew us to Health IQ was its data advantage. This is an insurance company that is using science and data to more accurately price insurance for its clients. We believe the next generation of insurance will be this form of accurate pricing. We call this new trend ‘Precision Insurance,’” said Max Chee of Aquiline Technology Growth (ATG), which is the early and growth stage fund managed by Aquiline Capital Partners, a New York and London-based private equity firm investing in the financial services and technology sectors.


Mr. Chee added, “As focused insurance technology investors, we see Health IQ as highly differentiated from other Insurtech companies. In canvassing the market, we found Health IQ’s innovation in bringing fair prices to consumers highly compelling. Aquiline is excited to support Health IQ and utilize our insurance industry expertise to help the company further innovate and expand as they continue their mission to offer unique products to health-conscious individuals.”

To date Health IQ has raised $139.5 million from a diverse and respected group of investors: Charles River Ventures, First Round Capital, Greylock Partners, Menlo Ventures, Ribbit Capital, Felicis Ventures, Foundation Capital, Andreessen Horowitz, Greenspring Associates, Aquiline Technology Growth, and others.

ABOUT HEALTH IQ

Health IQ is an insurance company on a mission to improve the world’s health by rewarding runners, cyclists, weightlifters, swimmers, yogis, well-managed diabetics, and other Americans living a healthy lifestyle. Health IQ gives these individuals credit for their healthy lifestyle through lower rates. Since pioneering the use of science and data to measure the impact of healthy lifestyles, Health IQ has become the fastest growing life insurance company in the nation. Health IQ has grown from zero to $21 billion in coverage in the last three years. The company was founded for the health conscious by the health conscious. The company’s three founders were each touched by a personal health challenge and overcame them by adopting a healthier lifestyle. The founders wanted to inspire and encourage others to embrace a healthy lifestyle by giving them financial rewards. For more information visit www.healthiq.com.

ABOUT GREENSPRING ASSOCIATES

Greenspring Associates was founded in 2000 to focus solely on venture capital investments. Through a comprehensive platform, the Firm serves as a lifecycle partner for entrepreneurs and fund managers, investing across multiple stages, sectors and geographies. An established investor in financial and insurance technology companies including Bright Health, MoneyLion, Branch International and YieldStreet, Greenspring Associates manages approximately $8.8 billion in committed capital across a variety of specialized venture strategies. For more information on Greenspring Associates and a full list of its prior investments, please visit its website at www.greenspringassociates.com.

ABOUT AQUILINE TECHNOLOGY GROWTH

Aquiline Technology Growth (ATG) seeks to invest in early- and growth-stage technology companies that are bringing innovation to the financial services ecosystems. ATG is managed by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across the financial services and technology sector. The ATG team has experience in technology and financial services and is supported by its colleagues at Aquiline, strategic partners, and an active group of industry Executive Advisors. For more information on ATG, visit www.atgvc.com.

ABOUT HANWHA ASSET MANAGEMENT

Hanwha Asset Management is a global asset management company with US$80B in AUM and has been investing in growth stage deals globally. It has backed notable startups such as Zymergen, N26, Raisin, Yanolja, and Grab.

Health IQ Secures $55 Million In Series D Funding to Expand Its Special Rate Life Insurance for People Who Live a Healthy Lifestyle

Super 2

Providing U.S. Homeowners Relief Against $300B Annual Spend on Home Care and Repair 
  
SAN FRANCISCO, April 17, 2019 /PRNewswire/ -- Super, a subscription service that provides care and repair for your home, announced it has completed a $20 million Series B round of funding led by Aquiline Technology Growth (ATG), an early- and growth-stage fund managed by Aquiline Capital Partners. The round included participation from Munich Re Ventures, Liberty Mutual Strategic Ventures, Moderne Ventures, 8VC, QIA and Solon Mack Capital. 
  
Founded in 2015 by CEO Jorey Ramer, the company has raised a total of $30 million in funding to-date. Munich Re Ventures, the venture capital arm of Munich Re, one of the largest global reinsurers, continues its participation since leading the company's Series A round from its HSB Fund. With a presence in key U.S. markets including Austin, Chicago, Dallas, Houston, Phoenix, San Antonio and Washington, DC metro, Super plans to use the investment to add new geographies based on the demand from the market, as well as for hiring and technology development. 
  
"Super has developed an effective, convenient platform to provide premium care and repair services for homeowners," said Max Chee of ATG. "Super is tackling an industry that is ripe for innovation with a smart, technology-forward approach, and we are excited to work with Jorey and the rest of the team at Super to help continue that exciting trajectory." 
  
According to a recent Bankrate survey, nearly half of homeowners have regrets over their home purchase, and the number one reason cited is unexpected maintenance or hidden costs. Super is tackling this head on by remedying the ineffectiveness of current home warranties with a technology-driven and customer-centric approach that makes it as easy to rent as it is to own. 
  
Homeowners can use Super's custom app to get appliances fixed and order concierge services to manage the logistics of many home service needs without ever having to deal with the stress, hassle and costs involved. Additionally, Super helps prevent problems with an in-depth maintenance schedule and provides the option to have Super handle routine home maintenance. 
  
"After purchasing my first home, it struck me that homeownership itself is a lot more stressful due to the lack of insight and visibility into unforeseen home-related expenses," said Jorey Ramer, CEO and Founder, Super. "Our vision is to help homeowners own like a renter, by insuring more of the risks associated with owning a home." 
  
About Super 
  
Super is a San Francisco-based technology company that offers subscription services providing care and repair for your home. Backed by leading investors, Super was founded in 2015 by Jorey Ramer, Bill Davis, and Ryan Donnelly. Super is committed to providing premium service quality for all homeowners. We partner with the best local servicers to deliver quick and effective home repair and maintenance at a predictable cost, using technology to take the hassle out of homeownership. Visit us at www.hellosuper.com for more information. 
  
About Aquiline Technology Growth 
  
Aquiline Technology Growth (ATG) seeks to invest in early- and growth-stage technology companies that are bringing innovation to the financial services ecosystems. ATG is managed by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across the financial services and technology sector. The ATG team has experience in technology and financial services and is supported by its colleagues at Aquiline, strategic partners, and an active group of industry Executive Advisors. For more information on ATG, visit www.atgvc.com. 


Super Raises $20M Series B Round Funding to Reinvent Home Ownership Experience

Covius

Meeting needs of financial services industry
1 April 2019
Housing Wire

The new management team at Covius, formerly LenderLive, has pivoted away from lending and fulfillment and focused on investing in technology and tech-enabled solutions that meet the changing needs of the financial services industry.

The 2018 acquisition of Require Holdings provides a good example of the company’s new direction. Require is a tech-forward group of companies that F1develops solutions in lien and title search, valuation and loan review spaces. Its Covius Technologies unit is a leader in low-code programming that is being used by leading government-sponsored enterprises, like Freddie Mac and the Federal Home Loan Bank of Chicago.  An example of some of Covius’ innovative solutions includes an end-to-end default management solution for a top five servicer that is reducing defects by more than 40%.


2019 HW Tech100 winner: Covius

NEW YORK, Feb. 26, 2019 /PRNewswire/ -- Kryon®, a leading robotic process automation (RPA) company enabling enterprises to achieve continuous process optimization and change the way employees work, today announced the completion of its Series C financing round of $40 million led by OAK HC/FT. Both Aquiline Technology Growth and Vertex Ventures – the firms that had led Kryon's Series B round – have also exercised their option to expand their previous investments.

Kryon intends to use the funds to continue development of its innovative technology and penetration into new geographies by expanding its sales and marketing teams and opening additional offices around the globe.

"RPA is one of the fastest-growing industries, and Kryon is leading the pack with their innovation and technology," said Tricia Kemp, Co-Founder and General Partner of OAK HC/FT. "Kryon's revolutionary product, Process Discovery, has distinguished itself as a key driver to RPA adoption, and we believe that the company will continue to be a leading force in the industry. The company has already forged some key partnerships with companies such as Microsoft, IBM, Software AG, EY and many more."

Kryon Process Discovery™ has greatly impacted the automation landscape, proving to significantly accelerate the time it takes for enterprises to scale RPA deployment and reduce implementation time by up to 80 percent. Process Discovery, in conjunction with Kryon's RPA solutions, creates a unique end-to-end RPA experience – dramatically lowering the total cost of ownership and enabling enterprises to achieve continuous process optimization. Since launch, Kryon Process Discovery has begun to fundamentally change the way enterprises view RPA – replacing subjective guesswork with objective analysis, while minimizing the work that a company's employees must perform before they can start automating processes.

"We are excited to bring on such a well-respected strategic investor that shares our vision of holistic RPA," said Harel Tayeb, CEO of Kryon. "Kryon has seen tremendous growth in the past year, bolstered by the release of Process Discovery. With this new funding, we plan to accelerate our efforts to provide enterprises with today's most innovative RPA solutions, enable them to 'automate the automation' through Process Discovery and pave the way for them to realize the dream of a robot for every employee."

Known for its business-centric approach, unique technological innovations and utilization of artificial intelligence in its RPA and Process Discovery platforms, the company achieved a year-over-year sales increase of more than 100% in 2018 and brought on board veteran executives: Richard French, Chief Revenue Officer, Julie Shafiki, Chief Marketing Officer and Jim O'Gara as VP, Global Partners.

Dan Petrozzo, Venture Partner at OAK HC/FT, will join Kryon's Board of Directors and Matt Streisfeld, Principal at Oak HC/FT, will join as a Board Observer. 

To learn more about Kryon, please visit https://www.kryonsystems.com/.

 

ABOUT KRYON

Kryon is a leader in enterprise automation, offering the only platform on the market which encompasses both Process Discovery and Robotic Process Automation (RPA). This end-to-end solution maximizes ROI and cuts implementation time by 80%. Powered by proprietary AI technology, Kryon Process Discovery™ automatically generates a comprehensive picture of business processes, evaluates them and recommends which ones to automate. Kryon offers attended (desktop) RPA, unattended (virtual-machine-based) RPA and a hybrid combination of both. The company's award-winning platform is used by enterprises worldwide, including AIG, Allianz, American Express, AT&T, Ernst & Young, Ferring Pharmaceuticals, HP, Microsoft, Santander Bank, Singtel Optus, Verizon and Wyndham Hotel Group. Interact with Kryon on Twitter, LinkedIn and Kryon Community

ABOUT OAK HC/FT

Founded in 2014, Oak HC/FT is the premier venture growth-equity fund investing in Healthcare Information & Services ("HC") and Financial Services Technology ("FT"). With $1.1 billion in assets under management, we are focused on driving transformation in these industries by providing entrepreneurs and companies with strategic counsel, board-level participation, business plan execution and access to our extensive network of industry leaders. Oak HC/FT is headquartered in Greenwich, CT, with offices in Boston and San Francisco. Follow Oak HC/FT on Twitter, LinkedIn, and Medium.

Expertise focused
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Opportunity with
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Insight for
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Aquiline
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01
Aquiline Financial Services

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Expertise focused on management goals.

Opportunity with every connection.

Insight for further reach.