(Image source: XDimensional Technologies homepage.)
XDimensional Technologies, a Brea, Calif.-based creator of a property/casualty insurance technology platform, announced that it has received a majority investment from Serent Capital (Austin, Texas/San Francisco), a growth-focused firm that invests in technology and tech-enabled services companies.
XDimensional Technologies describes its offering as an exceptionally robust solution that enables its insurance clients to manage their operations more effectively across a wide range of the insurance market, from retail agents and wholesalers to MGAs and carriers. The company’s technology powers three core insurance solutions within one platform: Policy Administration, Wholesalers Solutions, and a full Agency Management product. An insurance entity can use one or all the products within one instance of the software without requiring a lengthy and expensive implementation process, according to the vendor. XDimensional pitches its platform as enabling customers to accelerate growth, increase productivity, elevate customer service and improve customer retention.
XDimensional reports that it will add insurance technology veterans to its team. Lani Cathey will become CEO of XDimensional. As former Chief Revenue Officer of Insurity, Cathey led strategy and growth for Insurity’s Property and Casualty product lines and helped drive triple-digit revenue growth. Krista Weaver will join as COO. As former VP of Customer Operations at Insurity, Weaver helped ensure its clients received the maximum value from its solutions, leading to industry-leading customer satisfaction scores. Former Insurity CEO Jeffrey Glazer will join the team as Executive Chairman. Glazer brings over 35 years of experience building organizations in the software and insurance verticals.
XDimensional Co-Founder Rodney Gist will remain part of the executive team, focusing on product strategy and key client management. Co-Founder Steve McKeag will be transitioning out of the company to pursue other opportunities.
“Serent has a remarkable track record of building great businesses, and we’re thrilled to have their partnership as we start our next chapter of growth,” comments Gist. “Serent’s deep expertise in InsurTech and their tools and resources to help grow businesses really differentiated them from others who we considered.”
“We plan to further our investments in our core products and remain dedicated to serving our retail, wholesale, and policy administration customers,” comments Cathey. “Customer satisfaction will be our number one goal, and our clients’ success will be the foundation for our future growth.”
Remarkable Team, Exceptional Product
“Over the last decade, the growth in XDimensional’s functionality has been beyond my expectations, and it speaks to the remarkable team they’ve assembled and the value they deliver to their customers,” observes Glazer. “I look forward to being part of their journey as they continue to advance their exceptional product.”
“Rodney and the XDimensional team have built an outstanding business that provides critical solutions to its customers,” comments Kevin Frick, Co-Founder and Partner, Serent Capital. He continued, “We’re delighted to partner with Lani, Krista, Jeffrey, and the entire XDimensional team to help them capture the tremendous opportunity that exists.”
Serent Capital reports that XDimensional is its 12th investment in the insurance space. The most recent insurance investments in addition to XDimensional Technologies, include ePayPolicy, and Next Gear Solutions.