Thoma Bravo, a leading private equity investment firm, announced today the acquisition of iPipeline, a leading technology provider of cloud-based software solutions to the life insurance industry.
Financial details were not disclosed.
"iPipeline typifies what we look for in an investment opportunity," said Holden Spaht, a managing partner at Thoma Bravo.
"The Company is a market leader with a mission critical product offering and has a strong secular growth opportunity from the continued migration of life insurance applications from print to digital."
Founded in 1995, iPipeline is based in Exton, and is a technology provider of SaaS solutions that drive straight-through processing for the insurance and financial services industry.
With more than 400 employees worldwide, iPipeline leads the information technology and services industry in providing web-based software tools for the insurance and financial services markets on a global scale.
"We’re pleased to be joining Thoma Bravo, which has a track record of picking exceptional high-growth vertical market technology companies," said Tim Wallace, chief executive officer of iPipeline.
Thoma Bravo will be acquiring its interest in iPipeline from three venture capital firms: NewSpring Capital, Technology Crossover Ventures and Volition Capital.
iPipeline is a leading provider of cloud-based software solutions for the life insurance industry. Through its SaaS solutions, it accelerates and simplifies insurance sales, compliance, operations and support.
The company provides process automation and seamless integration between every participant in the life insurance industry including carriers, agents (such as financial advisors and independent insurance agents), distributors (such as banks, broker-dealers and general agencies) and consumers.
Its innovative solutions enable automated processing for pre-sales, point-of-sale execution of applications, post-sale support, reporting, consumer delivery and agency management.
iPipeline provides the process automation and seamless integration needed on a global basis to make an insurance sale by aggregating more than 120 carriers, 875 distributors and financial institutions, and their producers and licensed advisors in a cloud-based environment.
With headquarters in Exton, Pennsylvania, iPipeline has locations in Cheltenham (UK), Fort Lauderdale, Horsholm (DK), Huntersville, Philadelphia, Salt Lake City, Tokyo, and Vancouver.