Thomas H. Lee Partners announces growth investment in Carpe Data
THL , a private equity firm for middle-market growth companies, has announced a strategic growth investment in Carpe Data , a provider of emerging and alternative data products for the insurance industry. With the investment, THL will become the majority shareholder of Carpe Data. The Company’s founders and management will continue to hold a meaningful stake, as well as a group of existing strategic investors.
Headquartered in Santa Barbara, CA, Carpe Data uses proprietary algorithms and AI to transform emerging and alternative data into predictive and actionable insights for insurance carriers across the globe. Carpe Data’s unique and predictive data enables insurers to automate claims decisions and improve outcomes across the insurance lifecycle. THL’s investment will be used to support continued innovation across Carpe Data’s proprietary data platform, as well as capture opportunities for the Company to expand and strengthen its position as the next-generation data company for insurance.
“As leading investors in the insurance and automation space for over 20 years, we have witnessed the growing demand among carriers for automated alternative data and predictive analytics to improve performance and gain a competitive edge in all key workflows. With a strong track record of innovation and growth, Carpe Data is meeting this demand by creating a new market for alternative data to unlock automation and improve outcomes across the insurance lifecycle. We are excited to partner with this innovative and industry-leading team to accelerate their vision.” – Edward Shahnasarian, Director at THL.
“Since forming Carpe Data in 2016, we have rapidly grown and cultivated a blue-chip customer base, and we believe THL is the ideal partner for the next phase of our journey . The depth of their expertise in the insurance technology and automation sectors, combined with their experience scaling high-growth technology businesses, makes THL well suited to help us execute on our strategic roadmap for continued growth. With this investment, we have a unique opportunity to further expand across core segments, introduce new products and use cases, and enter adjacent markets.” – Max Drucker, Founder and CEO of Carpe Data.
