Full Capture Secures $7 million in Series B Funding
Full Capture Solutions, Inc. Secures $7 million in Series B Funding
Rapid Product and Market Expansion Slated to Commence
East Hartford, Conn. – September 25, 2006 – Full Capture Solutions, Inc., a provider of predictive, analytic-driven solutions for the insurance industry, has secured $7 million in a Series B financing round. Greylock Partners, one of the world's leading venture capital firms, led the round, with existing investor Ignition Partners also participating.
“With our first round of funding from Ignition Partners, we demonstrated the appeal of our ‘software as a service’ model to capture hidden value locked in insurance companies’ data and to achieve enterprise cost reduction,” said Stephen Holcomb, Full Capture Solutions President and CEO. “We’ve also built a strong executive team with extensive domain expertise in insurance and technology. This new round of funding will be used for rapid product and market expansion, along with sales and marketing investments.”
Full Capture Solutions’ business model is a capital efficient, vertical market opportunity that enables insurance companies to realize tangible bottom-line results. Full Capture’s ability to read and analyze structured data and unstructured text unleashes the power in insurance data, converting it into a valuable business asset. Carriers are freed from the constraints of their older legacy systems through a pay-as-you-go subscription service that produces immediate returns with no investment in software or infrastructure.
“Our goal is to partner with management in building companies that have the potential to become industry leaders,” said Bill Kaiser, a Partner at Greylock Partners. “We believe we have found that emerging industry leader in Full Capture Solutions.”
Kaiser will join Full Capture Solutions’ Board of Directors in conjunction with the financing.
About Full Capture Solutions
Full Capture is a privately-held, venture-backed corporation headquartered in
Contact:Bobbie Wasserman
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