tech11 GmbH, a Würzburg, Germany-based insurance software provider serving the P&C market, received a strategic growth investment from TA Associates, a global growth private equity firm.
The amount of the deal was not disclosed.
The deal will create a leading software provider in the health and P&C markets in Europe, leveraging the complementary expertise and resources of tech11 and Adcubum, another firm in which TA has invested in.
Founded in 2018 by Pierre Dubosq and Matthias Reining in Würzburg, Germany, tech11 offers a holistic, digital P&C core insurance platform designed to help insurance companies and managing general agents (MGAs) meet the complexities of digitalization in the insurance industry. The tech11 Insurance Platform, available via a cloud-based SaaS subscription or deployed on-premises, can be utilized for the replacement of legacy systems and as Digital Speedboat for any insurance greenfield approach in fast growing ecosystems, supporting the entire end-to-end policy and claims management lifecycle across Europe. Founded in 2018, tech11 has grown to more than 50 employees and is in the process of opening more branches in Germany.
FinSMEs
10/12/2021