First Analysis invests in insurtech company PCMI

CHICAGO – Jan. 20, 2021 – First Analysis, a leading venture capital investor, has made a new investment in PCMI, a leading provider of administration software for the automotive, consumer and industrial warranty and service management markets. The round was led by Boston-based growth equity firm Equality Asset Management and enables PCMI to continue its focus on product expansion and client acquisition in North America and globally.

PCMI (Policy Claims Management International) offers a modern suite of software solutions for policy administration, claims management, risk management and financial management of insurance products. PCMI’s customers include leading original equipment manufacturers, third party administrators, self-administrators and insurers who offer and manage warranties, service contracts and other finance and insurance products. Since inception, PCMI’s software has been used to administer more than 50 million policies and process more than 23 million claims.

PCMI President & CEO Mark Nagelvoort commented, “With their history of investing in fast-growing SaaS companies, First Analysis and Equality Asset Management can help us accelerate our growth initiatives. They will be valuable partners as we continue to innovate and expand product capabilities to meet the evolving needs of our customers.”

First Analysis has a long history researching and investing in enterprise software-as-a-service (SaaS) companies, ranging from venture-stage investments to established publicly traded leaders. First Analysis Managing Director Mathew Nicklin commented, “In working with Mark and the rest of the PCMI team over the past several months, we’ve been incredibly impressed by the passion, energy and talent they’ve invested in building this leading technology platform. We look forward to supporting them as they continue to improve and expand an already great solution for warranty and service management.”

About First Analysis

First Analysis is a leading venture capital investor. We have one of the longest records in venture capital, having invested more than $800 million across multiple highly diversified funds over four decades. First Analysis invests mainly in North America with a focus on our sectors of expertise: technology/SaaS, healthcare, and environmental technology. We help established companies become profitable leaders in large markets, funding growth plans and working closely with management in areas including strategy, recruitment, sales and marketing, and corporate development. Our flexible approach targets investing $3-10 million as lead investor or as a syndicate partner bringing valuable perspective.

About PCMI

PCMI offers a modular package of software solutions for the administration of finance and insurance products, service contracts and extended warranties. PCMI’s SaaS platform, PCRS (Policy Claim and Reporting Solutions), supports and automates the full lifecycle of all aftermarket products and provides the most flexible environment for administrators, insurers, original equipment manufacturers, agents and dealers to launch new products. Its global team enables continuous around-the-clock innovation and customer-focused support.

For more information, please contact:

Matthew Nicklin
Managing Director

Terry Kiwala, CFA
Vice President

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First Analysis invests in insurtech company PCMI – Jan 2021

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