November 24, 2020

MARLBOROUGH, Mass., – November 24, 2020 – OneShield Software (“OneShield”), a leading provider of core software solutions to P&C insurance companies, today announced a growth investment from a private investor group led by Bain Capital Credit, LP and Pacific Lake Partners. The growth funding will help accelerate OneShield’s continued expansion within the P&C insurance software market. The financial terms of the investment were not disclosed.

Founded in 1999 and headquartered in Marlborough, MA, OneShield’s product portfolio includes SaaS and stand-alone cloud-based enterprise-class policy management, billing, claims, rating, business intelligence, and smart analytics software solutions to P&C insurers of all sizes.

“OneShield has made significant progress toward our strategic objectives in recent years. We’ve built a comprehensive product portfolio and increased our partnerships with many leading P&C insurance carriers, all while focusing on investing and strengthening our delivery capabilities,” said Glenn Anschutz, who served as CEO of OneShield for 20 years before recently taking on the role of Chairman and Chief Strategy Officer. “This carefully executed growth strategy resulted in nearly tripling our recurring revenue over the past three years. Partnering with Bain Capital Credit and Pacific Lake will help us further accelerate this strategy while continuing to maintain the highest levels of customer service.”

“We are excited to partner with OneShield on its next phase of growth, especially as the digital transformation of the P&C insurance software market accelerates and as the Company builds upon its deep roots in the industry,” said David Healey, a Vice President at Bain Capital Credit. “OneShield continues to grow its innovative platform through organic growth and recent new business wins, including several startup insurers, which represent a particularly strong niche for the OneShield team. We believe the Company is well-positioned for future success.”

In conjunction with the investment and to support the company’s continued growth, OneShield also announced new appointments to its executive leadership team. Cameron Parker has assumed the role of CEO, succeeding Anschutz, while Brandon Parker has been named President and COO. “Brandon and I are thrilled to be joining the OneShield family at such an exciting time in the Company’s growth journey,” said Cameron. “In addition to its impressive and growing list of clients and partners, OneShield provides insurance companies with deep industry knowledge as well as proven software and delivery capabilities they can depend on for their core technology transformations. We look forward to working with Glenn and the investor group as we continue to build on OneShield’s proven track record of helping clients transform their businesses for the future.”

About Pacific Lake Partners

Pacific Lake is the most experienced and largest investor dedicated to partnering with search fund entrepreneurs and helping them succeed. Pacific Lake partners with talented entrepreneurs to find and acquire a great company and then galvanize growth and value creation. As a long-term partner for the entire search fund journey, Pacific Lake’s sole purpose is to help entrepreneurs buy a great business and succeed as a CEO. Pacific Lake offers best-in-class support for entrepreneurs, including searcher workshops and a range of post-acquisition initiatives conducted by our Value Creation Team. For more information, visit www.pacificlake.com.

Media Contact

For more information or to schedule a media interview, please contact:

Janice Merkley VP, Marketing
OneShield Software

Telephone: +1 774-348-1000

Email: Jmerkley@oneshield.com

About OneShield

OneShield provides business solutions for P&C insurers and MGAs of all sizes.

OneShield’s cloud-based and SaaS platforms include enterprise-level policy management, billing, claims, rating, relationship management, product configuration, business intelligence, and smart analytics.

Designed specifically for personal, commercial, and specialty insurance, our solutions support over 90 lines of business. OneShield’s clients, some of the world’s leading insurers, benefit from optimized workflows, pre-built content, seamless upgrades, collaborative implementations, and pricing models designed to lower the total cost of ownership.

Our global footprint includes corporate headquarters in Marlborough, MA, with additional offices throughout India.

For more information, visit www.OneShield.com