Connect with us

Technology

Global insurtech bolttech announces Series C funding led by Dragon Fund to drive continued expansion

Published

on

SINGAPORE, Dec. 20, 2024 /PRNewswire/ — bolttech, the fast-growing global insurtech, today announced Dragon Fund, by Liquidity and MUFG, is leading bolttech’s Series C funding round alongside investors Baillie Gifford, Generali – through Lion River, the Group’s company dedicated to Private Equity, and others, which is expected to total more than US$100 million. Following bolttech’s record-breaking Series A and B rounds, the Series C up-round values bolttech at US$2.1 billion and the investment will further enhance its global growth strategy.

The strategic support of lead investor Dragon Fund alongside the follow-on investors and the Series C funding will enable bolttech to continue to enhance its platform’s capabilities, expand its market presence globally, and accelerate its goal to make insurance more tailored, accessible, affordable and convenient for customers. This investment follows bolttech’s previous successful funding rounds, further establishing its role as a leader in the insurtech space.

Ridhi Chaudhary, CIO of Dragon Fund, said, “We are excited to lead bolttech’s Series C round. In a short time, bolttech has become a leading, embedded insurtech player with global presence and scale. We are impressed by its tech capabilities and execution. I look forward to joining the Board of Directors and supporting its next phase of growth.”

Aakash Tulsani, Managing Director at Dragon Fund, added, “bolttech’s differentiated technology and program management solution integrates insurance into customer purchase journeys, enhancing access to affordable, customized products. As a technology-first provider, bolttech is well positioned to shape the future of embedded insurance a $70B+ addressable market globally.”

Hendrik Borginon, Investment Manager, Baillie Gifford, said, “bolttech is a pioneering force in the embedded insurance space. By enabling seamless integration of insurance products into their distribution partners, bolttech is transforming how insurance is bought and sold globally. With a highly experienced team at the helm, we are optimistic about their potential to drive significant growth and profitability in the coming years.”

Rob Schimek, Group Chief Executive Officer, bolttech, said, “This latest round of funding is an endorsement of our value proposition and marks another significant milestone for bolttech. The funding also demonstrates our relentless pursuit of innovation and excellence as we enable the insurance industry. With this investment from Dragon Fund and our Series C investors, we will continue to revolutionise the future of insurance through our leading technology-enabled ecosystem.”

About bolttech
bolttech is a global insurtech with a mission to build the world’s leading, technology-enabled ecosystem for protection and insurance. bolttech serves customers in more than 35 markets across Asia, Europe, North America, and Africa.

With a full suite of digital and data-driven capabilities, bolttech powers connections between insurers, distributors, and customers to make it easier and more efficient to buy and sell insurance and protection products.

For more information, please visit: www.bolttech.io

About Dragon Fund
Launched in 2023, Dragon Fund, by Liquidity and MUFG, is an equity investment platform that invests globally in growth-stage technology and technology enabled companies. The platform leverages Liquidity’s proprietary technology in its investment process and MUFG’s extensive global network.

For more information, please visit: www.dragonfunds.com

About Baillie Gifford
Baillie Gifford is an independent investment partnership founded over a century ago in Edinburgh, owned and run by 58 partners who all work at the firm. The firm’s mission is to find game-changing companies (both public and private) that can sustain growth and provide returns for clients over five to ten years and longer. With 1,708 staff and assets under management of £218bn, it has offices in Edinburgh, Amsterdam, Dublin, Frankfurt, Hong Kong, London, New York, Shanghai, Toronto, and Zurich (at 30 September 2024). 

About The Generali Group
Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in over 50 countries in the world, with a total premium income of € 82.5 billion in 2023. With around 82,000 employees serving 70 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. At the heart of Generali’s strategy is its Lifetime Partner commitment to customers, achieved through innovative and personalised solutions, best-in-class customer experience and its digitalised global distribution capabilities. The Group has fully embedded sustainability into all strategic choices, with the aim to create value for all stakeholders while building a fairer and more resilient society.  

 

View original content:https://www.prnewswire.com/apac/news-releases/global-insurtech-bolttech-announces-series-c-funding-led-by-dragon-fund-to-drive-continued-expansion-302336889.html

SOURCE bolttech

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

BearCom Announces Transformative Acquisition of Stone Security

Published

on

By

Transaction to Enhance BearCom’s Physical Security Offering and Position Company as a Leading End-to-End Integrator of Advanced Voice, Security and Data Solutions

GARLAND, Texas and SALT LAKE CITY, Dec. 20, 2024 /PRNewswire/ — BearCom, a premier North American integrator of voice, security and data solutions, today announced the acquisition of Stone Security, a leading provider of enterprise class physical security products and services. Terms of the transaction were not disclosed.

The addition of Stone Security’s industry leading physical security expertise to BearCom’s existing security solutions portfolio further cements BearCom’s position as a leading end-to-end integrator of advanced voice, security and data solutions.

Founded in 2005, Stone Security is a trusted global security integrator with 12 offices across the United States, Mexico and Brazil. Stone Security designs and delivers comprehensive security systems that enhance the safety and efficiency of its expansive customer base. With its best-in-class suite of security solutions, Stone Security supports a diverse range of enterprise-level customers across multiple verticals, including educational institutions, municipalities, transportation, distribution centers and data centers.

“Stone Security has been a leader in security integration for almost two decades and I am thrilled to welcome them to the BearCom family. Their tremendous growth is a direct result of their ability to design and deliver highly technical security solutions, combined with high integrity, and a dedication to their customers and employees,” said Les Fry, CEO of BearCom. “Stone Security brings more than 225 highly trained, technically advanced team members and a geographical footprint that will further solidify our position as a trusted partner for our customers on business and mission-critical security matters.”

“BearCom is a clear leader in the communications industry, and we have long been impressed by their ability to integrate advanced solutions to solve the critical safety and security needs of their customers,” said Brent Edmunds, CEO of Stone Security. “We are looking forward to joining the BearCom family and working with Les and his team to expand our customer offerings and provide our high-level service at an even greater scale.”

BearCom’s acquisition of Stone Security marks the company’s second acquisition since Siris’ initial 2023 investment and is an important milestone as BearCom continues to expand its capabilities across the physical security space.

“The acquisition of Stone Security is transformational and highly complementary for BearCom,” said Dave Calamai, Managing Director at Siris. “By leveraging Stone Security’s leadership position in the video surveillance and access control space, BearCom can provide a unique, end-to-end security solution suite across the Americas. We are excited to partner with Stone Security’s founders to accelerate growth.”

“Stone Security’s commitment to providing high-quality, reliable security solutions and building customer trust will be invaluable as BearCom continues to build out its physical security offerings,” added Tom Echols, BearCom’s Vice President of Security Solutions. “We are excited to work with Stone Security during this next chapter of growth.”

Stone Security’s strong, loyal partnerships with Axis, LenelS2, Milestone and Wesco will continue to be an instrumental part of their business model. Additionally, Stone’s three operating founders, Brent Edmunds, Joey Edmunds and Aaron Simpson, will remain with the company and play a key role in shaping BearCom’s security strategy moving forward.

Finn Dixon & Herling LLP and Norton Rose Fulbright LLP served as legal advisors to BearCom. Buchalter PC served as legal advisor to Stone Security.

About BearCom

Founded in 1981, BearCom is Motorola’s largest Channel Partner in North America, and a leading provider and integrator of wireless voice, security and data solutions across the U.S. and Canada. BearCom is headquartered in Garland, Texas. www.bearcom.com

About Stone Security  

Stone Security is a provider of professional, enterprise class, physical security products and services. The terms that define the way Stone approaches the integration business are – open platform, industry leading and partnership driven. With these principles as a foundation, Stone has chosen products that deliver high functioning, integrated and flexible physical security systems. Stone currently manages full-time operations in twelve states across the U.S. as well as two countries in Latin America. www.stonesecurity.net

View original content to download multimedia:https://www.prnewswire.com/news-releases/bearcom-announces-transformative-acquisition-of-stone-security-302337428.html

SOURCE BearCom

Continue Reading

Technology

ITRI Partners With PTS to Create AI Sign Language Weather Broadcaster

Published

on

By

HSINCHU, Dec. 20, 2024 /PRNewswire/ — ITRI and Public Television Service (PTS) have announced a joint project on developing an AI sign language weather broadcaster. Through this collaboration, the AI sign language weather broadcaster is projected to go live as early as the second half of 2025. This partnership aims to increase the accessibility of weather information and enable deaf individuals to receive the latest warnings for natural disasters and other emergency incidents.

“Technology arises from human needs, and AI can play a key role in helping those in need,” said ITRI Chairman Tsung-Tsong Wu. “The collaboration between ITRI and PTS is a demonstration of inclusive technology that offers everyone equal opportunity to enjoy the benefits of AI. The AI sign language weather broadcaster is expected to compensate for the shortage of sign language interpreters and provide the deaf equitable access to information via mass media.”

Taiwan Broadcasting System and Taiwan Public Television Service (PTS) Foundation Chairperson Yuan-Hui Hu remarked that the PTS has been dedicated to producing sign language TV programs for the Deaf community and is actively leveraging technology to make the media environment more accessible to them. “Information equality is a fundamental value in modern society,” stated Hu. He hopes to help deaf individuals stay up to date during typhoons, earthquakes, and other emergencies through advanced communication technology.

ITRI Vice President and General Director of Information and Communications Research Laboratories Pang-An Ting remarked that ITRI began developing the AI sign language interpreter and building Taiwan’s sign language corpus in 2023. “Sign language is a visual language that conveys meaning through a combination of facial expressions and hand gestures. An AI sign language broadcaster requires high-precision skeleton estimation technology and deep learning gesture generation models to accurately present hand movements. This is much more complicated than current AI audio and video broadcasting, which deals with speech generation and lip-syncing technologies,” he explained.

Dr. Ting further pointed out that sign language evolves with variations in local dialects, emphasizing the need to build a sign language corpus in Taiwan. “We need both professional sign language interpreters and members from the Deaf community to work together to build the corpus. We hope that this collaborative project will promote information equality and also preserve Taiwan’s sign language as an important cultural asset,” he said.

Media Contact

Annie Wu
Office of Marketing Communications, ITRI
+886-3-591-8406
aiyunwu@itri.org.tw 

About ITRI

Industrial Technology Research Institute (ITRI) is one of the world’s leading technology R&D institutions aiming to innovate a better future for society. Founded in 1973, ITRI has played a vital role in transforming Taiwan’s industries from labor-intensive into innovation-driven. To address market needs and global trends, it has launched its 2035 Technology Strategy and Roadmap that focuses on innovation development in Smart Living, Quality Health, Sustainable Environment, and Resilient Society.

Over the years, ITRI has been dedicated to incubating startups and spinoffs, including well-known names such as UMC and TSMC. In addition to its headquarters in Taiwan, ITRI has branch offices in the U.S., Germany, Japan, and Thailand in an effort to extend its R&D scope and promote international cooperation across the globe. For more information, please visit https://www.itri.org/eng.

View original content to download multimedia:https://www.prnewswire.com/news-releases/itri-partners-with-pts-to-create-ai-sign-language-weather-broadcaster-302337430.html

SOURCE Industrial Technology Research Institute

Continue Reading

Technology

New Property Inspection Software for Apartments, HUD and Rural Development, Housing, Hotels, Hospitals, and Commercial Properties by Inspect2go

Published

on

By

Inspect2go provides property inspection software for apartments, HUD housing, rural development housing, single-family homes, hotels, hospitals, and commercial properties. Inspect properties using mobile phones or tablets to document violations, take photos, and issue work orders.

SAN CLEMENTE, Calif., Dec. 20, 2024 /PRNewswire-PRWeb/ — Inspect2go provides property inspection software, property inspection management systems, and mobile applications. Users conduct inspections using a tablet, phone, or iPad/iPhone mobile app. System modules include web-based management dashboards, inspection schedules, work orders, and reporting. Programs cover public housing, residential rental property inspection applications, HUD, rural development, apartment inspections, commercial property inspection systems, hotel inspection apps, and hospital inspection systems.

“Inspection Software for Property and Housing”.

Clients include property managers, property management companies, state and local government agencies. Users can inspect single-family properties, such as residential housing, single-family homes, and rental housing. Commercial property inspections cover multifamily rental properties, office buildings, factories, industrial manufacturing facilities, retail stores, warehouses, restaurants, and food establishments. The system also supports federally funded government housing inspections including multifamily apartment complexes and low-income/affordable housing units. Other versions are tailored for hotel room and hospital room inspections.

About Inspect2go

Inspect2go offers specialized software for city, county, and state-level government agencies. We serve public health, environmental health, engineering, building, code enforcement, and other departments that interact daily with the public. Products and services include public web portals for online citizen access, permitting and licensing software with online applications and payment processing, data migration, cloud (SQL) database hosting services, inspection mobile applications, and custom programming services to automate complex office workflows. Inspect2go products are web/cloud-based solutions with ongoing SaaS support and maintenance.

Media Contact

Paul Smith, Inspect2go Inc., 1 (949) 429-4620, marketing@inspect2go.com, https://inspect2go.com/

Twitter, LinkedIn

View original content to download multimedia:https://www.prweb.com/releases/new-property-inspection-software-for-apartments-hud-and-rural-development-housing-hotels-hospitals-and-commercial-properties-by-inspect2go-302336964.html

SOURCE Inspect2go Inc.

Continue Reading

Trending