TPG invests $100m in insurtech EIS as it targets growth
EIS, a core and digital platform provider for insurers, has secured a growth investment of more than $100 million from TPG, a global alternative asset firm.
TPG is investing out of TPG Tech Adjacencies (TTAD), its fund focused on flexible capital solutions for the technology industry. The new funding will be used to continue to accelerate product development across the spectrum of risk, health, and wealth, and support geographic expansion.
Founded in 2008, EIS is an insurance software company that enables leading insurers to innovate and operate in faster, more secure, and agile ways. The EIS Suite is an open, flexible platform of core systems and digital solutions that liberate insurers to accelerate and scale innovation, launch products faster, deliver new revenue channels, and create powerful customer experiences.
“We are excited to partner with TPG as we continue to bring our best-in-class, cloud-native suite of technology solutions to insurers across the globe,” said Alec Miloslavsky, Founder and CEO of EIS. “The team at TPG is aligned with our ambitious growth strategy and their longstanding track record, industry relationships, and deep expertise make them an ideal partner for EIS as we propel our business forward. The investment will help us to continue to meet growing client demand as insurers transition from outdated ‘modern legacy’ systems toward a platform that provides the flexibility, speed, openness, and security that today’s highly competitive market requires.”
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