Private equity firm Clearlake Capital has acquired software-as-a-service provider of front office insurance solutions Zywave from Aurora Capital Partners.
The value of the transaction was not disclosed.
Following the completion of the deal, the company will continue to be led by its current CEO Jason Liu and the existing management team.
Zywave is a cloud-based insurance distribution software that supplies expansive digital solutions to bolster and grow insurance businesses. The technology enables insurance brokerages to manage customer relationships by streamlining sales and renewal processes, quote delivery, content generation, and data tracking and analytics.
Its services are used by 6,000 brokerages, including all top 100 US insurance firms.
With the fresh funds in the bag, Zywave is looking to further its growth organically as well as making additional acquisitions. The company hopes this investment will help it bolster its leadership position.
Zywave CEO Jason Liu said, “Clearlake’s investment in Zywave is a true game-changer. This move will enable us to both accelerate our growth organically and increase our pace of acquisitions moving forward. Zywave is already a proven InsurTech leader, delivering end-to-end solutions to insurance professionals globally, and now we will have the opportunity to further expand upon our leadership position with even more impactful developments.”
Last year, Clearlake joined TA Associates in the funding round of identity and encryption technology develop DigiCert.
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