OneShield Software receives $50M follow-on investment to accelerate continued growth

Summary

As OneShield continues to experience rapid growth, this round of funding will accelerate investments in product innovation and high-quality talent acquisition.

January 27, 2022

MARLBOROUGH, MA, – January 27, 2022: OneShield Software (www.OneShield.com), a leading provider of core software solutions to property and casualty insurance companies, today announced a new round of growth investment led by Pacific Lake Partners with participation from existing investors, including Bain Capital Credit, Maven Equity Partners, WSC & Company, and Peterson Partners.

In 2021, OneShield grew its annual recurring revenue by over 50%, closing 11 new license deals and bringing its client total to 38. It was OneShield’s best year on record, fueled by the addition of new clients and the expansion of relationships with existing clients. The new funding will accelerate investments in product innovation for both of OneShield’s core platforms, OneShield Enterprise and OneShield Market Solutions, to benefit both existing and new clients.

Cameron Parker, CEO at OneShield, said, “P&C insurers and MGAs have never faced a more compelling set of growth opportunities. Agility and data management are now the primary bases of competition in many insurance market segments, and OneShield exists to help our customers succeed in these objectives. With this new funding, our team is laser-focused on product enhancements that will help our customers adapt to evolving customer expectations, launch new insurance products quickly, and leverage data for better decision making.”

Founded in 1999, OneShield offers SaaS and standalone cloud-based enterprise-class policy management, billing, claims, rating, business intelligence, and smart analytics software solutions for P&C insurers and MGAs of all sizes.

Kevin Oxendine, a Partner at Pacific Lake, said, “In just over a year since our partnership began, OneShield has impressively expanded its existing relationships with leading P&C insurers, added several new customers, and further accelerated recurring revenue growth. We believe that OneShield has a long runway of opportunity, and we are excited to support this next phase of the company’s growth.”

Media Contact

For more information or to schedule a media interview, please contact:

Kaitlyn Jakovcic
Sr Product Marketing Manager
OneShield

Email: kjakovcic@oneshield.com

About OneShield

OneShield delivers SaaS solutions for Carriers and MGAs, including our core policy, billing, claims, and analytics systems, OneShield Enterprise, and OneShield Market Solutions. Purpose-built for commercial, personal, and specialty lines, OneShield also offers the AI Hub, accelerating innovation and automation across our core systems and other insurance platforms.