JACKSONVILLE, Fla., Dec. 17, 2021 /PRNewswire/ — Brightway Insurance coverage, a number one private traces centered insurance coverage franchisor, introduced right now the completion of a majority funding from GrowthCurve Capital to speed up the corporate’s progress trajectory. The partnership with GrowthCurve will allow Brightway to proceed its nationwide growth technique and spend money on its expertise platform to additional improve its robust worth proposition to clients, franchisees and provider companions.
“On behalf of my brother David and I, we’re thrilled to take the following step in our journey and companion with GrowthCurve Capital,” stated Michael Miller, co-founder of Brightway Insurance coverage. “Our aim has all the time been to make sure the corporate – and everybody related to it – reaches its potential. We strongly imagine that GrowthCurve is the precise companion for Brightway to create a Win, Win, Win for franchisees, clients and group members, and take the enterprise to the following degree given the agency’s distinctive mannequin of mixing useful experience with deep funding and trade expertise.”
Brothers David and Michael Miller invented the “you promote, we service” mannequin within the insurance coverage company area and commenced franchising the idea as Brightway Insurance coverage in 2008. Immediately, Brightway is the most-recognized insurance coverage franchise system and one of many largest private traces insurance coverage companies within the U.S. With greater than 331 franchises in 29 states, the corporate manages practically $900 million of annualized written premiums.
GrowthCurve Capital is a singular, control-oriented, non-public fairness agency centered on constructing world-class companies by leveraging information, analytics and machine studying, mixed with a complete strategy to human capital, to speed up progress and drive worth creation.
Underneath the brand new partnership, the Millers will proceed to carry important minority possession of the corporate. Michael Miller will be part of David Miller on the board of administrators, and collectively they may work carefully with GrowthCurve in setting the strategic imaginative and prescient for Brightway to speed up the corporate’s progress.
Efficient instantly, Mark Cantin, GrowthCurve’s lead working government in insurance coverage distribution, turns into the brand new president and CEO of Brightway Insurance coverage. Cantin had been working carefully with GrowthCurve during the last a number of months to establish excessive progress insurance coverage distribution companies that in the end resulted on this partnership.
“I am honored and excited to steer Brightway and assist fulfill the imaginative and prescient of it changing into a tech-enabled, turnkey supplier for the insurance coverage franchisee of the long run, whereas providing selection, flexibility and a seamless expertise for our clients,” stated Cantin. “I’ve a protracted historical past working with the GrowthCurve group and stay up for partnering with them, and David and Michael Miller, within the subsequent part of the Brightway journey.”
An trade veteran, Cantin brings greater than 30 years of expertise in each insurance coverage distribution and underwriting to the place. Previous to becoming a member of GrowthCurve, Cantin was a member of the manager committee and president of subject operations at QBE North America, a division of QBE Insurance coverage Group, one of many 20 largest world insurance coverage and reinsurance firms. Previous to becoming a member of QBE, Cantin was chief advertising officer at USI Insurance coverage, one of many largest and quickest rising home brokers.
“We now have been very impressed with what David, Michael and the Brightway group have constructed. The corporate pioneered the franchisor mannequin within the insurance coverage area and has generated enticing outcomes for its franchisees, clients and provider companions,” stated Sumit Rajpal, founder and CEO, GrowthCurve Capital. “We search to speed up the corporate’s progress trajectory by leveraging the corporate’s wealthy information property and our experience in AI, information enablement and digital transformation to introduce new options and capabilities to our franchisees and clients and to scale the platform nationally.”
“We see an incredible alternative to deploy expertise to additional improve the franchisee and buyer expertise, together with simplifying the insurance coverage gross sales course of to permit franchisees to scale their companies extra shortly,” stated Magnus Helgason, principal at GrowthCurve Capital.
J.P. Morgan Securities LLC served because the unique monetary advisor to Brightway within the transaction. Smith Hulsey & Busey served as authorized counsel to Brightway; Davis Polk & Wardwell LLP served as authorized counsel to GrowthCurve. Phrases of the transaction weren’t disclosed.
About Brightway Insurance coverage
Brightway Insurance coverage is a nationwide property/casualty insurance coverage distribution firm with practically $900 million in annualized written premium, making it one of many largest private traces companies within the U.S.
Brightway’s focus is on producing Win, Win, Win outcomes for customers by providing personalized insurance coverage options and for individuals wishing to promote insurance coverage by offering enterprise alternatives that span from single agent to multi-unit enterprises. Whatever the path taken, Brightway supplies the help essential to constantly outsell different insurance coverage brokers.
Customers searching for a greater insurance coverage shopping for expertise might go to Brightway.com, and other people wishing to study extra about franchise possession with Brightway might go to BrightwayDifference.com.
About GrowthCurve Capital
GrowthCurve Capital is a personal fairness agency centered on constructing world-class companies by leveraging information, analytics, and machine studying, mixed with a complete strategy to human capital, to speed up progress and drive worth creation. Based by Sumit Rajpal, former world co-head of the Goldman Sachs Service provider Banking Division, the agency focuses on control-oriented non-public fairness investments primarily throughout the monetary and data providers, healthcare, and expertise sectors. For extra data, please go to GrowthCurveCapital.com and comply with the agency on LinkedIn.
Brightway Insurance coverage:
Courtney Heidelberg, Brightway, 904-405-1883
Kathy Phelps, Pinckney Hugo Group, 585-750-0248
Dan Gagnier / Jeffrey Mathews, Gagnier Communications, 646-569-5897
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SOURCE Brightway Insurance coverage