Seek Now secures significant growth investment from Susquehanna Growth Equity
Seek Now, a technology-enabled inspection platform and services provider to the Property & Casualty (P&C) Insurance industry, has received a significant minority investment from Susquehanna Growth Equity (SGE), an entrepreneur-centric growth equity firm exclusively focused on internet, software, and information services companies.
Financial terms of the investment have not been disclosed.
This represents Seek Now’s first outside institutional capital investment and furthers the company's mission to virtualise the claims adjustment model through reducing the nation’s top carriers’ claim cycle time and providing exemplary customer service through its data-driven, technology-enabled offering.
Seek Now, co-headquartered in Louisville, KY and Atlanta, GA with offices in Nashville, TN, is led by Russ Carroll, the company’s Founder and CEO. “We are very excited to welcome Ben Weinberg, Shalin Mehta, and the Susquehanna Growth Equity team as a strategic and financial ally,” says Carroll. “We see an exciting future ahead of us as we strengthen our technology, database and processes, grow our customer base, and expand into new claims and customer categories. Of all the potential private and growth partners inquiring over the last three years, SGE stood out to us the most. Their charter to help hyper-growth, founder-led businesses accelerate will aid in our mission to scale, invest, and develop leading edge technology which will allow us to continue delivering robust customer experiences to the nation’s top insurance carriers.”
Seek Now works with over 150 P&C Insurance Carriers in all 50 states, including all of the country’s top 10 carriers.
Seek Now announced a corporate rebranding in March of 2020. The company, established in 2012 as Ladder Now, changed its name to elevate the company’s long-term vision to provide a range of high-quality, on-demand, ground truth services to insurance carriers, and further expand in new strategic business verticals.
“The last two years have been a really powerful chapter in our story,” says Carroll. “A lot has changed while we remain foundationally and culturally the same. We’ve acquired companies and technology while developing our own emerging technology, we’ve announced exceptional additions to our leadership team, and we’ve navigated through a pandemic while more than doubling our workforce and our business. This is the next chapter in our story, advancing toward wider offerings with complete geographic coverage.”
“Susquehanna Growth Equity is excited to support Seek Now, which continues to lead the technology-enabled claims inspection market,” says Ben Weinberg, Managing Director at Susquehanna Growth Equity. “Through its consistent pace of innovation and relentless customer focus, the company has earned tremendous loyalty from insurance carriers nationwide. We are proud to partner with Russ and his team for this next stage of their growth.”
In conjunction with the transaction, Weinberg will join Seek Now’s Board of Directors.