FirstBest Systems Lands $10,000,000 New Financing Round

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ea2fa7d6-b5f7-4ea4-ac34-ec7aa791c32c&Preview=1
Date
4/3/2012
Company Name
FirstBest Systems
Mailing Address
213 Burlington Rd. Bedford, MA 01730
Company Description
Founded in 2006, FirstBest Systems, Inc. is a software and services company providing advanced Underwriting Management Systems (UMS) to commercial insurance carriers.
Website
http://www.firstbest.com
Transaction Type
Venture Equity
Transaction Amount
$10,000,000
Transaction Round
Undisclosed
Proceeds Purposes
The company plans to use the funding to expand into other areas of the insurance industry, grow its sales and marketing team, and expand its engineering team to support mobile applications for enterprise customers.
M&A Terms
Venture Investor
NewSpring Capital
Venture Investor
Brookstone Partners
Venture Investor
Flybridge Capital Partners