AURORA CAPITAL INVESTS NEW CAPITAL TO SUPPORT ACCELERATED GROWTH
Combination of Zywave and Advisen creates the premier buy-and-build platform in InsurTech
Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) today announced that it has completed its acquisition of Zywave, Inc. (“Zywave”) and has also acquired Advisen Ltd. (“Advisen”), further establishing the new platform as the leading software-as-a-service (SaaS) provider of front office insurance solutions. Aurora Capital Partners (“Aurora”), previously the majority owner of Zywave, is investing alongside Clearlake in the transaction. The combined company will be led by Jason Liu, Chief Executive Officer (CEO) at Zywave. Financial terms were not disclosed.
Read More: Lending Leaders Positive About MeridianLink Acquisition of Teledata Communications, Inc.
Zywave is a market-leading provider of cloud-based insurance distribution software, offering expansive digital solutions to strengthen and grow insurance businesses. Zywave’s mission critical software solutions help insurance brokerages manage customer relationships by streamlining sales and renewal processes, quote delivery, content generation, and data tracking and analytics.
Advisen is a leading provider of software and data solutions to the commercial property and casualty insurance market. Advisen’s proprietary data sets and applications focus on large, specialty risks offering information, analytics, ACORD messaging gateway, news, research, and events, connecting commercial brokers, insurance carriers and insurance organizations worldwide.
“Clearlake and Aurora’s investment positions Zywave to accelerate organic growth while increasing the pace of our inorganic activity, evidenced by the acquisition of Advisen,” said Mr. Liu of Zywave. “With Clearlake and Aurora’s operational support and financial backing, including implementing Clearlake’s O.P.S.® playbooks, we are in a great position to extend our leadership in delivering end-to-end solutions to insurance professionals globally.”
Read More: CSI Named to IDC Financial Insights’ Top 100 FinTech Providers for Ninth Consecutive Year
“The combination of Zywave and Advisen creates a unique software platform for the broader insurance market as stakeholders look to digitize mission critical workflows within their day-to-day operations,” said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. “Zywave has created a differentiated SaaS product platform that will be strengthened by Advisen’s loss and policy data to enable smarter business decisions for insurance customers.”
“We are excited to support Zywave alongside Clearlake in the company’s next chapter of growth,” said Josh Klinefelter, Partner, and Rob Fraser, Partner, of Aurora. “Zywave is well positioned to continue building on its strong leadership position in front office software solutions, both organically and through accelerated add-on acquisition activity.”
William Blair & Company served as financial advisor to Zywave and Aurora. Houlihan Lokey served as financial advisor to Advisen.
Read More: AP Ventures Invests USD 10 Million Into Happay Targeting The Chinese Market
