Partnership to Advance the Products and Expand Market Penetration
AUSTIN, Texas and SAN FRANCISCO, January 7, 2021 – XDimensional Technologies, a property and casualty insurance technology platform, announced it received a majority investment from Serent Capital, a growth-focused firm that invests in technology and tech-enabled services companies.
XDimensional Technologies has developed an exceptionally robust solution that enables its insurance clients to manage their operations more effectively across a wide range of the insurance market – from retail agents and wholesalers to general agents (MGAs) and carriers. The company’s technology supports three major insurance products inside one platform: Policy Administration, Wholesalers Solutions, and a full Agency Management product. An insurance entity can use one or all the products within one instance of the software without requiring a lengthy and expensive implementation process. The company’s platform accelerates growth, drives productivity, improves customer retention, and elevates customer service.
Concurrent with the investment, XDimensional will add a slate of seasoned InsurTech veterans to its team. Lani Cathey will become CEO of XDimensional. As former Chief Revenue Officer of Insurity, Cathey led strategy and growth for Insurity’s Property and Casualty product lines and helped drive triple-digit revenue growth while improving customer satisfaction. Krista Weaver will join as COO. As former VP of Customer Operations at Insurity, Weaver helped ensure its clients received the maximum value from its solutions, leading to industry-leading customer satisfaction scores. Former Insurity CEO Jeffrey Glazer will join the team as Executive Chairman. Glazer brings over 35 years of experience building and leading organizations in the software and insurance verticals.
XDimensional Co-Founder Rodney Gist will remain part of the executive team, focusing on product strategy and key client management. Co-Founder Steve McKeag will be transitioning out of the company to pursue other opportunities.
“Serent has a remarkable track record of building great businesses, and we’re thrilled to have their partnership as we start our next chapter of growth,” said Rodney Gist, Co-Founder of XDimensional Technologies. He continued, “Serent’s deep expertise in InsurTech and their tools and resources to help grow businesses really differentiated them from others who we considered.”
Lani Cathey, CEO of XDimesional, added, “We plan to further our investments in our core products and remain dedicated to serving our retail, wholesale, and policy administration customers. Customer satisfaction will be our number one goal, and our clients’ success will be the foundation for our future growth.”
“Over the last decade, the growth in XDimensional’s functionality has been beyond my expectations, and it speaks to the remarkable team they’ve assembled and the value they deliver to their customers,” said Jeffery Glazer, Executive Chairman of XDimensional. He continued, “I look forward to being part of their journey as they continue to advance their exceptional product.”
“Rodney and the XDimensional team have built an outstanding business that provides critical solutions to its customers,” stated Kevin Frick, Co-Founder and Partner at Serent Capital. He continued, “We’re delighted to partner with Lani, Krista, Jeffrey, and the entire XDimensional team to help them capture the tremendous opportunity that exists.”
XDimensional represents the 12th investment in the insurance space for Serent Capital. The most recent insurance investments in addition to XDimensional Technologies, include ePayPolicy, and Next Gear Solutions.
About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. At Serent Capital, principals have firsthand experience capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive. For more information on Serent Capital, visit www.serentcapital.com.
About XDimensional Technologies, Inc.
XDimensional Technologies®, Inc., is a provider of comprehensive insurance processing and distribution solutions that empower and connect agents, brokers, wholesalers, MGAs/MGUs, program administrators, carriers, and policyholders, driving efficient business production, superior customer service, and insightful business management. The XD Insurance Processing Platform™ and the Nexsure® Agency Management Platform are scalable, secure, cloud-based, and web platforms, which allow customers to access their software remotely and securely. For more information about XDimensional Technologies, visit www.XDTI.com. To learn more about the Nexsure® platform, visit www.Nexsure.com.