(Tower Bridge, Sacramento, Calif. Photo credit: Michael Grindstaff.)
One, Inc. (Sacramento, Calif.), a cloud software vendor of core systems to the P&C industry has 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 vendor reports that capital will fuel growth by building out its sales, marketing, implementation and customer service teams to meet increasing demand from the P&C market for its product.
One, Inc.’s flagship offering is the InsureOne product suite, which the vendor describes as enabling P&C insurers to expand their distribution channels and increase revenues while replacing inefficient, inflexible legacy systems. The vendor has recently expanded InsureOne to include the PolicyOne rating, billing and policy issuance; the AppOne agency management system; and the DataOne data warehouse and business intelligence suite. One, Inc.’s customers include National General Insurance, 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.” Comments Christopher W. Ewing, CEO, One, Inc. “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.”
Funding entity H&Q Asia Pacific’s founder and chairman Ta-lin Hsu characterizes One, Inc. as 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. “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,” he says. “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.”
Robert Claassen, principal at Camp One Ventures asserts that the breadth of the InsureOne suite is unrivaled. “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,” he comments.
Matt Robinson, a partner at AGI Partners says, “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.”