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Patra secures $146m growth equity investment from FTV Capital

Patra Corporation, a technology-enabled services company for the insurance industry, has secured a $146 million growth investment as part of a recapitalisation from FTV Capital, a sector-focused growth equity firm with nearly 25 years of experience investing in technology-enabled services. 

With this investment, Brad Bernstein, managing partner at FTV Capital, and Mike Vostrizansky, principal at FTV Capital, will join Patra’s board of directors. 

This funding will drive additional growth through market expansion and accelerate the deployment of technologies that drive automation and digitisation of policy and administrative services Patra delivers to its clients.
 
Patra’s solutions have been designed to address major structural challenges facing the $60 billion insurance industry in the United States today. 
 
Patra has developed a curated offering of technology-enabled process management solutions purpose-built for industry participants across the insurance value chain. These solutions are delivered through a core team of insurance experts, supported by Patra’s proprietary technology platform – PatraOne.   
   
With this investment, Brad Bernstein, managing partner at FTV Capital, and Mike Vostrizansky, principal at FTV Capital, will join Patra’s board of directors. 

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