BriteCore raises $20 million

Cloud-based insurance core software platform BriteCore has raised $20 million in a Series C funding round led by Warburg Pincus, with additional participation from existing investor Radian Capital.

Founded in 2009, BriteCore (a team of ~159) offers a modern end-to-end core software platform for property and casualty insurers. Designed as a cloud-native solution, BriteCore is deployed using Amazon Web Services and is continually updated for maximum security, efficiency, and durability at scale. API integration capabilities provide access to third-party solutions, expanding on BriteCore’s foundational core, data, and digital offerings. According to the company, more than 60 insurance carriers, MGAs, and startups use its platform.

“BriteCore’s modern, cloud-native platform sets it apart as a leader in the market segments it serves. We have great confidence in Ray and the BriteCore team in their continued success.” – Alex Stratoudakis, Managing Director at Warburg Pincus.

“We have been a long-term investor in BriteCore and are excited about our continued partnership. The company’s highly-configurable platform for tech-focused carriers and MGAs comes at a time when the insurance industry is seeing accelerated adoption of modern software platforms.”  – Jordan Bettman, Managing Partner at Radian Capital.