TPG, a global alternative asset firm, has invested in EIS, a core and digital platform provider for insurers. TPG is investing out of TPG Tech Adjacencies, its fund focused on flexible capital solutions for the technology industry.
“We are excited to partner with TPG as we continue to bring our best-in-class, cloud-native suite of technology solutions to insurers across the globe,” said Alec Miloslavsky, founder and CEO of EIS. “The team at TPG is aligned with our ambitious growth strategy and their longstanding track record, industry relationships, and deep expertise make them an ideal partner for EIS as we propel our business forward. The investment will help us to continue to meet growing client demand as insurers transition from outdated ‘modern legacy’ systems toward a platform that provides the flexibility, speed, openness, and security that today’s highly competitive market requires.”
“Digital transformation of insurance has been a longstanding theme for TPG, and we believe EIS is a solution built for the future of the industry,” said Nehal Raj, partner at TPG. “Alec and his team have built a powerful platform that enables insurers across the globe to operate more effectively, become more customer-centric, and achieve better speed to market. We look forward to working closely with the company to build on their strong momentum.”
The firm has been an active investor in technology since its inception, with current and past software investments including C3 AI, Kaseya, McAfee, Planview, ThycoticCentrify, WellSky, Wind River, and Zscaler.
GCA acted as exclusive financial advisor to EIS on the transaction. DLA Piper represented EIS. William Blair acted as financial advisor to TPG, and Kirkland & Ellis served as legal counsel.