Patra Receives $146M Growth Equity Investment from FTV Capital
Summary
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 Patras 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.