(Image source: Origami Risk.)
Origami Risk, a Chicago-based risk and insurance Software as a Service (SaaS) provider, has announced that it has received an investment from growth equity firm Spectrum Equity (Boston and San Francisco). The investment is the first infusion of institutional capital for Origami Risk and represents a minority position. The investment will facilitate access to additional insights and resources, as well as the ability to selectively pursue accretive acquisitions, according to the vendor. The parties did not disclose the financial terms of the transaction.
Origami Risk provides what it describes as an integrated platform of products including RMIS, GRC, Claims, Safety, Analytics, Underwriting and Data Tools. The vendor claims the most experienced team in the RMIS industry, which it says ensures that client service and success is the central focus of each engagement.
“We are excited to partner with Spectrum Equity and look forward to leveraging Spectrum’s expertise with SaaS businesses and domain knowledge of risk and information services sectors,” comments Robert Petrie, co-founder and CEO of Origami Risk. “Our singular focus on client success will continue to drive our innovation and business model, which has always centered on delivering the best available technology and deeply skilled experts in order to help our customers meet their business objectives.”
Innovative, High-Growth Business
Spectrum Equity has partnered with entrepreneurial companies and management teams to build long-term value in market-leading software, information services and Internet companies during the last 25 years. The firm cites the the following companies as representative investments: Ancestry, Bats Global Markets, Definitive Healthcare, GoodRx, Seamless Grubhub, Lynda.com, SurveyMonkey, Verafin and World-Check. For more information
“The Origami Risk management team has built an innovative, high growth business, and we have been continuously impressed with their accomplishments while getting to know them over the last five years,” comments Mike Farrell, Equity Managing Director, Spectrum Equity. “We are thrilled to support the team as they continue to invest in the industry’s leading RMIS platform and provide strategic insights to help achieve the company’s vision of continued leadership in risk and insurance technology.”