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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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.

Kryon, Leading Innovator of Robotic Process Automation and Process Discovery, Raises $40 Million

BUFFALO, N.Y.--(BUSINESS WIRE)--Utilant, a market leader in loss control inspection and survey management software for underwriting and risk management for P&C insurers, announced today that Aquiline Technology Growth (ATG) has made a significant Series A investment in the company.

Founded in 2005, Utilant has become a leading provider of technology to the insurance industry through its LossControl360 SaaS solution. Utilant’s mission is to create technology solutions that make the risk management and underwriting processes more efficient. Utilant’s LossControl360 platform is designed to make the insurance risk management process more streamlined and accurate to help underwriters make better policy decisions.

This investment round will fuel Utilant’s global expansion and further strengthen its LossControl360 platform to leverage artificial intelligence and data analytics.

“The business landscape is evolving for insurance carriers striving for leadership in a competitive environment that requires precision and is driving the use of transformative technologies. The Utilant team is creating the technology to ensure that carriers capture the risk of underwriting in the most accurate and scalable way possible,” said Patrick Davis, founder and CEO of Utilant. “We partner with our P&C carrier customers to ensure that the LossControl360 SaaS platform is advancing their goals. ATG, given their insurance and operational expertise, is the perfect partner to help capture this opportunity and drive further growth.”

ATG’s investment comes during an exciting time in the marketplace and supports the opportunity for Utilant to further its leadership with P&C carriers and inspection services vendors. ATG is managed by Aquiline Capital Partners and is the firm’s dedicated early and growth stage fund, investing in technology companies that are bringing innovation to the insurance and financial services ecosystems.

“Utilant has emerged as a leader in the loss control solutions market and is poised for growth given the company’s established domain expertise and flexibility of its solution, and the ever-increasing demand for advanced technologies and automation,” stated Jeff Greenberg, Chairman and Chief Executive Officer of Aquiline Capital Partners.

“We are excited to work with the management team of Utilant to help further its market leadership and respond to the growing global demand for a scalable solution through a unified technology platform that manages underwriter and policyholder customer interactions,” said Michael Cichowski of ATG. As part of the investment, Mr. Cichowski will join the Utilant board of directors.

 

About Utilant

Utilant’s LossControl360 platform is used by leading insurers around the world, as well as by top inspection vendor survey companies across North America. The company is focused on risk management and loss control software solutions for P&C insurance carriers. The LossControl360 platform helps insurers to efficiently survey and score risks for an efficient underwriting process across all lines of commercial and residential business. A typical implementation provides positive ROI within the first year. More information on Utilant and LossControl360 is available at http://www.utilant.com and http://www.losscontrol360.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 insurance and 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 http://www.aquiline.com/atg.



Utilant Plans to Accelerate Global Growth and Expand Presence Within Insurance Marketplace with Significant Investment

relation

NEW YORK, NY and WALNUT CREEK, CALIF. – February 21, 2019 – Aquiline Capital
Partners LLC, a New York and London-based private equity firm investing in financial services and technology, announced today that it has entered into a definitive agreement to acquire Relation Insurance Services, one of the largest independent insurance brokers in the United States, from private equity firms Parthenon Capital and Century Equity Partners.
Since its founding in 2007, Relation has built its strengths in specialized industries including agribusiness, education, employee benefits, public entity, transportation and non-profit. The Company is committed to helping mid-market businesses navigate their insurance needs by building relationships and leveraging the right mix of people, partnerships, processes and technologies.
“Under the leadership of Joe Tatum and Ed Page, Relation Insurance Services has established itself as a highly respected brokerage with significant opportunities for continued organic and acquisition-based growth,” said Jeff Greenberg, Chairman and Chief Executive Officer of Aquiline. “We look forward to supporting Joe, Ed and the Relation team during this next phase of expansion.”
The Company will maintain its corporate headquarters in Walnut Creek, California, under the continued leadership of CEO Joe Tatum, President and COO Ed Page, and the rest of the management team.
“Our team at Relation Insurance Services has worked hard to build a company with a stellar reputation as one of the country’s best independent insurance brokerages,” said Joe Tatum, Chief Executive Officer, Relation Insurance Services. “Our goal is to continue driving strong organic growth alongside strategic acquisitions, sustained by Aquiline’s strong commitment to our mission and value proposition. We are excited to partner with them to further expand our portfolio, increase our geographic reach and continue to build on our customer relationships.”
Ed Page, President and Chief Operating Officer of Relation, added, “This transaction represents a validation of the value we have built at a key moment in the company’s development. Aquiline will provide us with the strategic, financial and operational capabilities needed to scale our business by continuing to develop our infrastructure, creating innovative product offerings, enhancing customer service and expanding our footprint nationwide. We look forward to the endless opportunities that lie ahead.”
“I would like to thank Joe and Ed, as well as the entire Relation team, for all they have achieved over the past 11 years,” said Brian Golson, Managing Partner and Co-CEO at Parthenon. “Management’s commitment to investing in its people, process and product offerings, has cemented Relation’s position as a leading independent insurance brokerage. By providing a unique culture and excellent customer service the business has seen impressive growth. We wish the team all the best for the future and thank them for the long-term partnership.”
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to be completed in the first half of 2019. No financial terms were disclosed.
Sandler O’Neill + Partners and Waller Helms Advisors served as financial advisors to Relation in this transaction, and Kirkland & Ellis LLP served as legal counsel. Willkie Farr & Gallagher LLP served as legal counsel to Aquiline.
 
About Relation Insurance Services
Relation Insurance Services is an insurance broker that offers superior risk-management and benefits-consulting services through its family of brands across the United States. It is ranked by Insurance Journal within the top 40 largest agencies in the country by revenue and has nearly 500 employees in more than 30 locations nationwide. Relation expects to continue its strong growth trajectory through additional acquisitions and organic growth. For more information about Relation, please visit www.relationinsurance.com.
About Aquiline Capital Partners LLC
Aquiline Capital Partners, founded in 2005, is a private equity firm based in New York and London investing in businesses across the financial services sector in banking and credit, insurance, investment management, and financial technology and services. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit: www.aquiline.com.
About Parthenon Capital Partners
Parthenon Capital Partners is a leading mid-market private equity firm with offices in Boston, San Francisco and Austin. Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service and technology industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in financial and insurance services, healthcare and business services, but seeks any service, technology or delivery business with a strong value proposition and proprietary know-how. For more information, please visit www.parthenoncapitalpartners.com.
About Century Equity Partners
Century Equity Partners, LLC ("Century") is a Boston-based private equity firm that provides growth and buyout capital to lower middle-market companies. Century focuses on investing in companies that provide outsourced services, distribution, and technology solutions to businesses operating within the insurance, financial services, and healthcare industries. For more information, please visit www.cepfunds.com.



Expertise focused
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Opportunity with
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Aquiline
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Aquiline Financial Services

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Expertise focused on management goals.

Opportunity with every connection.

Insight for further reach.