Duck Creek delivers a suite of SaaS applications for property & casualty insurers covering policy administration, billing, claims, analytics, industry content, distribution management, and reinsurance management. Its Duck Creek OnDemand offering is described in the press release as the leading SaaS core system solution for the P&C industry. The company said it will use the $230 million investment to continue investing in business growth, extend the capabilities of its SaaS solutions, and repurchase equity from certain existing investors. The announcement states Duck Creek is investing heavily in product development and international expansion. The Duck Creek Suite is positioned to support insurers’ digital transformations by providing open, highly configurable core systems. The press release was issued from Boston on June 10, 2020. Duck Creek offers a suite of SaaS solutions for P&C insurers, including policy administration, billing, claims, analytics, industry content, distribution management, and reinsurance management. Its enterprise SaaS platform, Duck Creek OnDemand, is available as standalone modules or a full suite and has been adopted by insurers around the world. The company emphasized continued heavy investment in product development and international expansion. Duck Creek reported 32% growth in SaaS revenue for the fiscal year ended August 31, 2019 versus fiscal 2018. Proceeds from the new investment will be used for ongoing business investment and to repurchase equity from certain existing investors. The company was established as a new, independent entity in 2016 when funds advised by Apax Partners acquired a majority stake from Accenture.

Total raised

$350M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2020