Tenzing invests in IT solutions provider VIPR
VIPR announced that Tenzing, an independent private equity firm based in London that targets buyout investments in high growth businesses, valued between £10m and £100m, has invested in it.
VIPR will continue to serve the Lloyd’s market, where its product, ‘Intrali’, provides Managing Agents and brokers with additional complementary functionality to the Lloyd’s system, ‘Delegated Data Manager’ (previously DA SATS).
“Delegated Authority business plays a hugely important role in the insurance sector and VIPR is already well established as the Delegated Authority experts within the London market. We are thrilled that Tenzing has recognised our leadership position and this investment and partnership will assist us in continuing to grow our UK presence and expanding our international footprint.” – Paul Templar, CEO of VIPR.
“This is a tremendous strategic development for us. Our products are already being used very successfully and globally across the insurance sector, including Company Market Carriers, Lloyd’s Managing Agents, Brokers, MGUs, and MGAs, both live and in run-off. We also have some fantastic product developments in the pipeline, which we will be announcing soon.
Recent independent market surveys have positioned us at the top of our market in terms of client satisfaction. This, however, is just the start for us. With Tenzing’s backing, we will be able to develop our systems and services to deliver unparalleled efficiencies and opportunities to our business partners. We look forward to sharing our exciting new developments with them and to continuing to help them succeed in their enterprises.” – Stewart Williams, COO of VIPR.
“VIPR has all the high-growth characteristics we look for in a business, growing over 30% over the last year, despite the challenges 2020 has presented. We’re excited to back Paul, Stewart, and the wider VIPR team, and look forward to helping to maximise the company’s potential with the support of our Growth Team.” – Christian Hamilton, Founder and Co-Managing Partner of Tenzing.
