Clearlake Capital buys insurance SaaS specialist Zywave from Aurora Capital Partners
Clearlake Capital Group has agreed to buy front office insurance software-as-a-service business Zywave from Aurora Capital Partners.
Zywave aims to help insurance brokerages manage customer relationships by streamlining sales and renewal processes, quote delivery, content generation, and data tracking and analytics.
It currently serves more than 6,000 brokerages, including all of the top 100 US insurance firms.
A statement from Clearlake co-founder Behdad Eghbali and partner Prashant Mehotra said, “Zywave has a best-in-class software platform and an innovative portfolio of products that automate key revenue-generating activities at insurance brokerages.
“We have also been impressed by Zywave’s accelerating momentum under [CEO Jason Liu’s] leadership, and we share his and the management team’s vision that the Company will serve as an excellent platform for both organic and inorganic growth initiatives.”
William Blair & Company served as financial advisor to Zywave and Aurora.
Last month Clearlake Capital-backed IT management and security software business Ivanti picked up new investment from global private equity player TA Associates.
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