BriteCore News, Press Release

BriteCore Receives $13 Million Growth Equity Investment from Radian Capital

May 9, 2018

New funding will enable product expansion and team growth for the SaaS insurance company.

BriteCore, a rapidly growing insurance software company, announced today that it closed a $13 million growth equity investment with Radian Capital. Capital funding will enable BriteCore to expand its best-in-class software and introduce new talent to the team.

BriteCore is a comprehensive, enterprise-level insurance processing suite designed for modern property & casualty (P&C) providers. Known for its cutting-edge technology and innovative solutions, BriteCore offers rapid delivery with security, efficiency, and durability at scale. Insurance carriers, managing general agents (MGAs), and InsurTech startups use BriteCore to build powerful solutions that increase speed to market, enhance competitive positioning, and support growth.

According to Radian Capital Co-founder, Jordan Bettman, BriteCore’s mission-critical software is unique in its ability to successfully serve a wide-range of insurance customers. “We were particularly impressed with the diverse set of carriers and MGAs that work with BriteCore. It’s a real testament to the people at the company and the product they’ve built. We believe BriteCore is in a great position to meet growing demand as more carriers look for modern, distributed SaaS software to run their businesses. We are beyond excited to partner with the team on the next leg of their journey.”

BriteCore Co-Founder and CEO, Phil Reynolds says, “BriteCore has grown into a leading insurance platform backed by a unified community focused on expansion, delivery, and innovation. Radian is an excellent fit for our group because they value sustainable growth, long-term partnership, and ongoing investment in new capabilities. Radian’s team and industry connections have already proven to be valuable, a sure sign Radian will help BriteCore grow to meet the needs of more insurers.”

About Radian Capital

Founded in 2016, Radian Capital is a $150 million growth equity fund. Radian partners with strong management teams and systematically accelerates growth by assisting adoption of next generation sales and marketing, data science, and operational approaches. Radian is headquartered in New York City; and Radian partners have previously invested in numerous fast-growing SaaS companies including Emailage and Blueday.

About BriteCore

BriteCore is a fully managed, cloud-based insurance software system that combines core, data and digital solutions into a single, comprehensive suite. BriteCore supports multi-line, multi-state and multi-location policies for personal, commercial, auto and specialty lines of business. Core software modules include Policies, Claims, Billing, Reporting, Analytics, CRM, Rules and Rating, Document Management, Agent Quoting and Inquiry, Policyholder Access and Mobile Applications.

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