Duck Creek Technologies collects $120m in new funding

Duck Creek Technologies, a SaaS-based insurance software developer, has collected $120m in funding.

The capital was supplied by Dragoneer Investment Group, funds advised by Neuberger Berman, Insight Partners, and Temasek.

With the round closed, the InsurTech is looking to invest into its technology.

The company offers a suite of SaaS-powered and configurable applications which span the entire insurance ecosystem. Its tools can bolster policy administration, billing, rating, claims, analytics, industry content, distribution management and reinsurance management.

Duck Creek Technologes has seen its revenue grow by 32% for the fiscal year ending August 31 2019.

Duck Creek CEO Michael Jackowski said, “The partnership of these new investors with Duck Creek speaks to the momentum we have achieved as the SaaS leader in P&C core systems and the opportunities we see ahead.

“Our Platform’s ability to deliver real business value has driven our strong operating and financial performance. That success combined with this increased investment will power our growth – particularly through Duck Creek OnDemand, our industry-leading SaaS solution – and international expansion.”

Duck Creek recently partnered with InsurPay to expand its partner ecosystem.

Copyright © 2019 FinTech Global

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