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AXA Strategic Ventures Invests in One, Inc., Platform

Staff Writer | December 14, 2016

AXA Strategic Ventures (ASV) announces it has led a $20 million Series B for One, Inc., provider of SaaS operating system for insurance companies, with participation from MassMutual Ventures and H&Q Asia Pacific. This funding round marks ASV’s first growth equity investment.

The additional capital builds on the company’s $16.7M Series A round in 2014, bringing the total investment to $36.7 million. The funding will accelerate One, Inc.’s vision of transforming the insurance software market.

This investment comes at a time when One, Inc. is experiencing tremendous growth. For the past three years, the company’s revenue has tripled each year and its customer base has nearly quadrupled. One, Inc. plans to use the additional capital to further develop its SaaS platform, add products and lines of business, and expand globally.

"One, Inc. is leading the modernization of the insurance software market by offering a nimble, cost-effective solution that can be installed quickly, and is continuously updated to ensure that customers always benefit from the latest features,” says Alex Scherbakovsky, general partner at AXA Strategic Ventures. “This investment reflects our confidence in the strength of One, Inc.’s management team and the company’s next-generation SaaS technology platform."

One, Inc.’s suite of software applications provides all the core functions needed by carriers and general agencies. One Inc.’s platform includes policy administration, billing, rating, agency management, customer relationship management, document management, payment processing, data warehousing and business intelligence, e-signature, as well as many other functions essential to insurance companies.

One, Inc. also helps carriers bring new offerings to market more quickly, empowering them to go live with all of their core applications in months rather than years. With a perfect customer implementation track record, One, Inc. has proven that the largest and most complex on-premise core systems can easily migrate to the cloud.

“The shift happening in the insurance industry is still in its early stages, and the opportunity to redefine how insurance companies approach technology and interact with their customers is tremendous,” says One, Inc. CEO and founder Christopher W. Ewing. “AXA Strategic Ventures, MassMutual Ventures and H&Q Asia all share our values and vision for the future of the insurance industry. We are eager to collaborate with them and move our business forward significantly.”

“We are very proud to partner with One, Inc. The SaaS technology developed by One, Inc. is unique in the insurance software market and One, Inc.’s expertise in that space is very strong. With this first growth equity investment, AXA Strategic Ventures reinforces its dedication to invest in promising technologies that are transforming insurance and asset-management,” says François Robinet, general partner at AXA Strategic Ventures.

Following the transaction, Scherbakovsky and Imran Akram, general partner, will join One, Inc.’s board of directors.

 


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