McKenzie Intelligence Services secures investment from Maven Capital Partners to expand market reach
Maven Capital Partners backed McKenzie Intelligence Services in a strategic funding round to support international expansion and product development.
McKenzie Intelligence Services supplies insurers with geospatial data and analysis to help accelerate industry responses to catastrophic events. The firm operates a proprietary platform named Global Events Observer that hosts multi-sourced data for disaster relief and economic recovery.
McKenzie Intelligence Services has secured a strategic investment from Maven Capital Partners to expand its market presence and develop its technology platform. The funds will be directed towards increasing penetration in US and European markets alongside growing domestic market share.
The capital will also support the expansion of capabilities within the Global Events Observer platform and enable the integration of new technologies for pricing future risk exposure. Maven Capital Partners led the transaction as part of its strategy of backing growth businesses in the UK.
From the founder
"We are thrilled to be joining Maven’s impressive track record of investments. As catastrophic events across the globe are becoming increasingly common and more severe, insurers are pressured to act more rapidly and effectively than ever before. This investment is an opportunity to reaffirm our mission of delivering accelerated and reliable intelligence for insurers to confidently make decisions in these critical times."
Forbes McKenzie
Founder and CEO at McKenzie Intelligence Services
Investor perspective
"The geospatial analytics and catastrophe insurance markets are forecast to continue double digit growth per annum over the next 5 to 10 years, driven in large part by the severe global weather events that are happening more often. Consequently, insurers are having to take more steps to defend against a rising tide of natural catastrophe losses and are turning to technology solutions to anticipate the level of claims more accurately to significantly reduce claim handling costs."
Dean Cox
Investment Director, Maven Capital Partners
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Categories
About the company
McKenzie Intelligence Services
McKenzie Intelligence Services supplies geospatial data and analysis for insurance claims and catastrophe management.