Geocoding and property intelligence expert, Addresscloud, today announced new investment from London-based private equity firm Kester Capital. The deal marks the next phase in Addresscloud’s journey as Kester Capital invests in the fast-growing Insurtech partnership with the founders and management.
With a strong reputation in the UK insurance market and a growing international footprint, Addresscloud is now set to scale its technology, continue to expand its global coverage, and invest further in its people and products.
Following the investment, Addresscloud has confirmed a series of new appointments to strengthen its leadership team: Simon de la Hoyde has been promoted to Chief Commercial Officer with responsibility for sales, marketing, and account management. Lucy Oxer has been promoted to Chief Operating Officer, leading operations, compliance and people. Stacey White joins as Interim Chief Financial Officer, bringing experience from her previous role as CFO at Send Technology. Alun Jones is retiring as Director and Chief Commercial Officer. He will continue to support the business as a Strategic Advisor focused on property data. Founder and CEO Mark Varley, and CTO Tomas Holderness continue to lead the business and, alongside Kester Capital, represent the board. A new Chair of the Board will be announced imminently.
This investment enables Addresscloud to double down on the areas customers value most: high-quality address and perils data, continuous innovation, richer global coverage, and investment in customer success and support, while maintaining the approachable and responsive feel of a specialist partner as the business scales.
Kester Capital is a sector-focused private equity investor with a strong track record in scaling data and technology businesses, including investments in DC Byte (data centre intelligence) and Vixio (regulatory intelligence).
Commenting on the investment, CEO of Addresscloud, Mark Varley, said:
“We are all excited about this next phase of Addresscloud’s growth. As we continue to quickly scale and expand internationally, this investment will allow us to grow the team and embed the structures necessary to support our maturing business, while staying true to the principles our customers value most: accuracy, responsiveness, and a highly collaborative approach.
From an operational point of view, it’s business as usual. We are passionate about providing rich address, climate and perils data to our insurer customers, helping them to pinpoint and assess their risks more accurately before they go on cover.
Kester’s track record and significant experience in partnering with high growth information and data companies, as well as their deep knowledge of the insurance industry, shone through. In partnership with Kester, we are eager to capitalise on the significant opportunity we have ahead of us over the coming years.”
Cameron Crockett, Managing Partner at Kester Capital added:
“Addresscloud is an exceptional information and data business operating in a highly attractive market that Kester know well. We are delighted to be partnering with Mark and the team to help realise Addresscloud’s potential as a global leader in insurance data.”
Read the orginal article: https://ffnews.com/newsarticle/funding/addresscloud-secures-investment-from-kester-capital-to-accelerate-global-growth/
