iPipeline, a provider of on-demand marketing, selling and processing solutions for the insurers, distributors and producers, reports that Technology Crossover Ventures (TCV) of Palo Alto, Calif., a provider of growth capital to technology companies, has made a “significant” investment in the company. TCV General Partner Robert Trudeau will join iPipeline's board of directors. TCV joins NewSpring Capital and Volition Capital as lead investors in iPipeline and as members of its Board of Directors.
According to Tim Wallace, iPipeline’s CEO, TCV has a record of investing in companies in the software and technology sectors including: ExactTarget, Expedia, Facebook, FX Alliance, Green Dot, Groupon, MarketAxess, Netflix, OSIsoft and RiskMetrics.
“Our goal is to assume a similar leadership position for the international insurance industry," said Wallace. "Our ability to aggressively invest in customer support, product development, and the expansion of our sales and marketing resources will enable us to better support the needs and success of our customers. The acquisition of companies in the United States and abroad and organic growth remain key components of our growth strategy."
Currently, iPipeline's on-demand platform is accessed by a customer network of 120 carriers, 1,200 distributors and 400,000 financial professionals and advisors. Platform solutions include: CRM, Forms, Quotes & Illustrations, iGO e-App, Agent Management, e-Policy Delivery and Policy Holder Services.
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