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Valen Technologies Secures $7.5 Million in Growth Equity Funding
DENVER, Colo., September 7, 2011 - Valen Technologies, the data consortium and predictive analytics scoring experts for P&C Insurance, today announced that it has closed a $7.5 million round of growth equity funding to fuel the company’s continued expansion. QED Investors and existing investor Core Capital Partners led the round with support from other current Valen investors.
Nigel Morris, Managing Partner of QED commented that “Valen has established an impressive reputation as an influential and highly-respected resource for predictive analytics expertise and solutions specifically targeted for the P&C insurance industry.” Morris went on to say that “Valen has done a superb job of leveraging its consortium data asset, Valen Networks, to build industry wide predictive models in worker’s compensation and homeowners lines of business.“
“Leading insurance carriers are deploying predictive analytics based decision systems to improve their underwriting and pricing processes. Bottom line results and a very competitive environment are driving these predictive analytics purchasing decisions. Valen has set itself apart as the industry leader because of their consortium data assets, their ability to put models into production, and the demonstrable lift they have provided to their customer base,” said Mark Levine, Managing Director at Core Capital Partners.
This round of funding will be used as working capital to support Valen’s growth strategy through increased investments in data consortium expansion, predictive analytics platform enhancements, channel development, sales and marketing.
“I want to thank Core Capital, QED Investors and all of our existing shareholders for their continued confidence in Valen and our employees. This latest financial support enables us to continue to implement our growth strategy, concurrent with our ongoing effort to build valuable data consortiums and industry wide predictive models,” said Dax Craig, President and CEO of Valen Technologies.
About Core Capital Partners
Core Capital is a $350 million private equity fund that provides capital to both early-stage technology ventures and small to mid-sized growth companies where technology is a driver of change in the business or sector. The common thread is that these companies are developing or incorporating disruptive technologies into their businesses. Core Capital focuses principally on the kinds of "core" or fundamental technologies that enable or enhance information, data and communication. Core Capital is headquartered in Washington, D.C. and most of our investments are made on the East Coast. www.core-capital.com
QED Investors is a boutique venture capital firm that invests in information-rich, high-growth businesses, primarily in the financial services and digital marketing sectors. While the firm’s support is tailored to the specific needs of each portfolio company, it typically provides a combination of capital and capability, often working very closely with senior management to first identify and then monetize the information-based opportunity. In doing so, QED collectively leverages decades of first-hand operational experience accumulated in pioneering a similar approach at Capital One. www.qedinvestors.com
About Valen Technologies
Valen Technologies, Inc. improves pricing, underwriting and premium audit results through cloud based predictive analytics solutions, UnderRight®, RateRight®, AuditRight® and now InsureRight®. Valen’s experts build, deploy and monitor models for improving risk selection, pricing, underwriting and optimizing premium audit processes. Valen offers the only predictive analytic solutions that include expert predictive modeling, model monitoring and refresh, as well as data management. Valen’s customers use Valen’s solutions to improve operating performance, improve competitive position, reduce premium audit expense, optimize premium audit results and shorten underwriting cycle time. To learn more about Valen and Valen’s products call 1-800-280-3304 or visit Valen’s website at www.valen.com