News Feed Item

eBaoTech Closes $36 Million Growth Equity Investment to Accelerate Global Expansion

eBaoTech, a leading provider of software solutions to the global insurance industry, today announced that it had closed a $36 million growth equity investment led by US-based FTV Capital, a growth equity firm that invests in innovative, high growth companies. Cathay Capital Private Equity, a cross-border provider of growth capital to Europe- and China-based companies, co-invested in the financing.

eBaoTech delivers standards-based insurance software solutions to both property and casualty (P&C) and life insurers. Its end-to-end suite of product offerings—including sales and distribution, policy administration, claims management and reinsurance modules—is highly flexible and configurable, enabling insurers to speedily launch new insurance products and sales channels and run highly automated operations. With over 100 deployments for leading insurers in more than 20 countries, the company has an exceptional track record of delivering successful results across its global footprint. Many leading blue chip multinational and regional carriers have adopted eBaoTech’s state-of-the-art platform to drive their business growth and reduce operational expenses.

“Carriers are actively seeking to modernize core systems to counteract the rising total cost of ownership of inflexible legacy platforms,” said Christopher Tan, FTV principal and new eBaoTech board member. “Growth opportunities are also being driven by higher demand for insurance products in emerging markets and increased distribution through Internet and mobile channels. eBaoTech has repeatedly proven to be the solution of choice for blue chip insurers seeking to expand to new markets or through new distribution platforms, as well to replace antiquated systems.”

“We welcome the opportunity to partner with FTV Capital and Cathay Capital, and are highly enthusiastic about this strong endorsement of eBaoTech from two successful international growth equity investors,” said Woody Mo, president and CEO of eBaoTech. “Both FTV and Cathay have extensive domain expertise and strong industry networks, especially in the US and Europe. We have built a solid leading position in emerging market countries and are making strong inroads into developed markets. Partnering with FTV Capital and Cathay Capital will help us accelerate growth in both emerging and developed markets, as we continue to enhance our technology platform, expand partnerships and selectively evaluate acquisitions.”

“We are highly impressed with the seasoned leadership team at eBaoTech, and we look forward to partnering with the company as it continues to successfully meet the needs of insurance carriers worldwide,” said Mingpo Cai, president of Cathay Capital and new eBaoTech board member.

About eBaoTech

eBaoTech delivers standards-based, highly configurable insurance software solutions to both property and casualty (P&C) and life insurers. Its software products enable insurers to realize cost-effective, scalable, flexible and highly automated insurance operations in an ever-changing environment. With offices in eleven countries across Europe, Asia Pacific and the Americas, and deployments in more than 20 countries, eBaoTech has extensive global presence to serve leading insurance companies. For more information, visit www.ebaotech.com.

About FTV Capital

FTV Capital is a growth equity firm with over $1 billion under management that invests in high-growth companies offering a range of innovative solutions in four sectors: business services, financial services, payments/transaction processing and technology. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for more than a decade. Founded in 1998, FTV Capital has invested in 76 portfolio companies across three funds, and has offices in San Francisco and New York. For more information, visit www.ftvcapital.com.

About Cathay Capital Private Equity

Cathay Capital Private Equity, founded by Mingpo Cai and Edouard Moinet in 2006, is the first French-Chinese private equity firm focused on Europe-China growth capital approved by the AMF, the French Securities Association. Limited partners of Cathay Capital I & II include European and Chinese institutional investors and private individuals. Cathay Capital aims to support international growth and be a long term partner for mid-sized Western companies faced with a booming Asian economy, as well for an increasing number of Chinese companies seeking worldwide reach.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Governments around the world are adopting Safe Harbor privacy provisions to protect customer data from leaving sovereign territories. Increasingly, global companies are required to create new instances of their server clusters in multiple countries to keep abreast of these new Safe Harbor laws. Is it worth it? In his session at 19th Cloud Expo, Adam Rogers, Managing Director of Anexia, Inc., will discuss how to keep your data legal and still stay in business.
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
Successful transition from traditional IT to cloud computing requires three key ingredients: an IT architecture that allows companies to extend their internal best practices to the cloud, a cost point that allows economies of scale, and automated processes that manage risk exposure and maintain regulatory compliance with industry regulations (FFIEC, PCI-DSS, HIPAA, FISMA). The unique combination of VMware, the IBM Cloud, and Cloud Raxak, a 2016 Gartner Cool Vendor in IT Automation, provides a co...
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect...
So you think you are a DevOps warrior, huh? Put your money (not really, it’s free) where your metrics are and prove it by taking The Ultimate DevOps Geek Quiz Challenge, sponsored by DevOps Summit. Battle through the set of tough questions created by industry thought leaders to earn your bragging rights and win some cool prizes.
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
SYS-CON Events announced today that Cemware will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service. 

Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...