Acrisure, a Grand Rapids, MI-based fintech operates that operates a global insurance broker, closed a $725 million Series B-2 Preferred Equity funding round.
A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) led the round, with participation from Guggenheim Investments on behalf of certain clients and Oak Hill Advisors.
The company, which received a $23 billion valuation, representing a 31% increase from its last preferred equity raise in March 2021, intends to use the funds to continue pursuing value-accretive acquisitions, grow its tech enabled solutions, increase marketing and brand awareness, and invest in human and technological infrastructure to support global expansion.
Founded in 2005 and led by Greg Williams, CEO and President, Acrisure provides customers with intelligence-driven financial services solutions for insurance and reinsurance, real estate services, cyber services and asset and wealth management. The company has grown revenue from $38 million to more than $3.5 billion in over eight years with locations throughout the world.