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As we enter 2022 and take a moment to reflect on the many challenges and uncertainties we all faced in our personal and professional lives, we’re grateful for our clients’ and partners’ support as we navigated a transformational 2021.
Fortunately, as events and business travel started opening up, the BriteCore management team had the chance to meet with many of you to learn more about your business and share news and updates on our positive progress.
In 2021, we made significant investments in our software and services offerings, delivered core product enhancements, and onboarded new experienced leadership. These executive additions include Helen Yu as SVP of Customer Services, Supreet Oberoi as SVP of Engineering, Amede Hungerford as Chief Marketing Officer, and Richard Dyke as Chief Revenue Officer.
We also welcomed our new CEO, Ray Villeneuve, to lead the business and build on the enormous progress of our founders Phil and Chris Reynolds, who remain on our Board of Directors.
Over the past 12 months, we also earned accolades from the industry analyst community. Novarica named BriteCore a “Contender” in their 2021 Market Navigator for Policy Administration Systems and Gartner named us a “Challenger” in the 2021 Magic Quadrant for P&C Core Platforms. On the security front, BriteCore successfully completed our SOC 2 Type 1 Certification.
BriteCore’s business remains strong and vibrant. We experienced solid growth adding 19 new P&C customers bringing our base to over 90 and premium written through BriteCore to over $1B. We completed a $20M Series C financing led by Warburg Pincus, bringing our total capital raised to $83M.
As we look ahead, BriteCore will continue our laser focus on our core customer segments—small and mid-sized P&C mutual insurers, MGAs, and Insurtechs. There is much to do as we look ahead to 2022. BriteCore is on track to deliver key enhancements to our data and reporting capabilities as well as other highly requested product features. We will continue to make significant investments in product, service excellence, and human capital to further accelerate customer success.
2021 was a pivotal year for BriteCore, and we greatly appreciate the ongoing support of our clients and partners. With 2022 underway, we look forward to serving as your strategic technology partner and enabling you to thrive and grow.
