Patra Receives $146M Growth Equity Investment from FTV Capital
Patra Corporation, an El Dorado Hills, Calif.-based technology-enabled services company for the insurance industry, received a $146m growth investment as part of a recapitalization from FTV Capital.
With this investment, Brad Bernstein, managing partner at FTV Capital, and Mike Vostrizansky, principal at FTV Capital, will join Patra’s board of directors.
This funding will drive additional growth through market expansion and accelerate the deployment of technologies that drive automation and digitization of policy and administrative services Patra delivers to their clients.
Led by John Simpson, founder and CEO, Patra is a provider of technology-enabled services to the insurance industry. The company powers insurance processes by optimizing the application of people and technology, supporting insurance organizations as they sell, deliver, and manage policies and customers through the PatraOne platform. Patra serves over 235 customers spanning 650 offices across the United States and Canada.
Patra is a leading provider of technology-enabled services to the insurance industry. Patra powers insurance processes by optimizing the application of people and technology, supporting insurance organizations as they sell, deliver, and manage policies and customers through our PatraOne platform. Patra’s global team of process executives in geopolitically stable and democratic countries that protect data, allows agencies, MGAs, wholesalers, and carriers to capture the Patra Advantage – profitable growth and organizational value. Patra is also a founding member of the InsurConneXtions Alliance, representing leaders across insurance technology, brokerage, wholesale, and specialty insurance, representing over $50 Billion in Insurance premiums Our Commitment to the Greater Good – Patra is committed to giving back to our military families. We are grateful to the military personnel putting their lives and the well-being of their families at risk by protecting the United States and our interests around the world. The sacrifices the men and women of our Armed Forces and their families make are often met with little reward. With the help of our corporate partners, Patra, and our philanthropic organization, Patra Proud, endeavors to provide support and assistance to the families of these brave men and women. Together we provide resources to help children of military families establish a solid foundation in life by supporting on-base education, from kindergarten through high school. And through a partnership with MSEP (the Military Spouse Employment Partnership), Patra has developed Patra Academy, a program focused on military spouses looking to join or rejoin the workforce.
When was Patra founded?
Patra was founded in 2015.
Who is the Founder of Patra?
Lee Ruiz is founder of patra
Is Patra Hiring?
Patra is hiring for multiple positions like Commercial lines manager,employee benefits account manager,data scientist and more.
What is the Team Size of Patra?
As per the popular social media site LinkedIn, Patra has 2161 employees.
Where is the Head Office of Patra?
Patra’s headquarters is located at 1107 Investment Blvd El Dorado Hills, CA 95762 USA
How much is the revenue of Patra?
Patra has not publicly revealed the revenue in the last round of funding.
Patra Receives $146M Growth Equity Investment from FTV Capital. Congratulations to the entire team. I wish you great success in this endeavour.Shishir Gupta, Founder and CEO, StartupLanes
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