Cloud Insurance Software Provider One, Inc. Closes $16.7 Million Funding Round to Accelerate Growth
P&C core software developer One, Inc. receives major round of institutional financing.
SACRAMENTO, Calif., September 3, 2014-- One, Inc., a cloud software provider of core applications to the property and casualty insurance market announced today that it closed a $16.7 million Series A funding round led by H&Q Asia Pacific with participation from Camp One Ventures and AGI Partners, LLC. The capital will fuel One, Inc.’s continued growth by building out its sales, marketing, implementation and customer service teams to meet the increasing demand from the P&C market for its product.
One, Inc.’s InsureOne™ product suite enables property and casualty insurers to expand their distribution channels and increase revenues while replacing legacy core systems that are inefficient and inflexible. One, Inc.’s software is used by a rapidly growing list of notable customers, including National General Insurance Company, Confie Seguros, and Mutual of Enumclaw.
“Our priority is to help our customers access additional market channels that have been unavailable to P&C carriers due to legacy systems and build efficiencies at unparalleled speed to market.” said One, Inc. CEO Christopher W. Ewing. “Thanks to the infusion of capital from H&Q Asia Pacific, Camp One Ventures and AGI, we will not only be able to better serve our current clients, but also reach new audiences and markets.”
New product developments have expanded the InsureOne suite of core systems to include: PolicyOne™ (core rating, billing and policy issuance system), AppOne™ (core agency management system), ProcessOne® (payment reconciliation and routing system) and DataOne® (data warehouse and business intelligence suite).
“One, Inc. is disrupting the P&C market with flexible, modern SaaS solutions that can be deployed at a fraction of the time and cost of competitor’s products,” said Ta-lin Hsu, Founder and Chairman of H&Q Asia Pacific. “Without taking any outside capital, the company has operated very efficiently since it was founded and has achieved amazing success serving some of the largest P&C brands. We are very excited to help One, Inc. leverage its leading technology, proven management expertise and business acumen to further expand in the U.S. and international markets. In particular, we look forward to working closely with management to continue our 30-year track record of successfully migrating technology platforms to Asia.”
“The breadth of the InsureOne suite is really second to none. We believe that One, Inc. will revolutionize the P&C market and we are very proud to be a part of the One, Inc. team.” Said Robert Claassen, principal at Camp One Ventures.”
“Delivering modern software solutions to the P&C industry has proven to be a difficult task and One, Inc.’s incredibly talented team has been able to do so. We are excited about collaborating with One, Inc. to help maximize its potential,” said Matt Robinson, Partner at AGI Partners.
About One, Inc.
One, Inc. builds software products that help Property and Casualty insurers replace their legacy core systems and dramatically increase their operational efficiencies and speed to market. Designed to be flexible and scalable, One, Inc. products enable insurers to deliver excellent service, expand markets and lower operating costs. One, Inc.’s InsureOne Suite provides the core systems used by insurers as operational systems of record. See how One, Inc. is leveling the playing field. For more information, please visit http://www.oneincsystems.com. Follow us on twitter: @OneIncSystems.
About H&Q Asia Pacific
H&Q ASIA PACIFIC (“H&QAP) is a leading Asian private equity firm that has managed an aggregate of US$2.9 billion in committed capital through 23 funds since its inception in 1985. H&Q AP’s central objective is to achieve superior rates of return on its clients’ invested capital in Asia. Originally founded by Dr. Ta-Lin Hsu as a division of U.S. investment banking firm Hambrecht & Quist, H&QAP is currently an independent organization that conducts both later-stage control investments and earlier-stage venture capital investments. It focuses on growth sectors including technology, technology manufacturing, consumer products and services, and financial services. The firm’s offices are located in the principal markets in Asia as well as in the Silicon Valley, providing it with a unique combination of local market presence and global perspective. H&Q AP is dedicated to identifying superior commercial potential in Asia and working closely with companies to unlock their untapped potential. During its rich history, H&QAP has developed an extensive network specifically geared towards helping its portfolio companies emerge into global business leaders.
About CampOne Ventures
Camp One Ventures (C1V) partners with leading emerging growth businesses in the mobility, software-as-a-service and financial technology segments. C1V provide companies with the venture capital and support they need to build world class businesses. Portfolio companies of C1V include Aarki, inDinero, Rhyza and Ripple Labs.
About AGI Partners
AGI Partners LLC is an alternative investment management firm that deploys capital from their funds and pooled investment vehicles. They provide creative solutions and invest funds in private equity investments and special situation opportunities. AGI Partners identify and partner with best-in-class management teams by providing the financial and strategic resources required to grow businesses. For further information on AGI, visit http://www.agi-llc.com.
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