Mergermarket: Semsee to Seek Capital for Insurtech within 2 Years, CEO Says
November 21, 2022
Philip Charles-Pierre, the CEO of Semsee, a technology-enabled platform for selling commercial insurance, said that the company will seek more capital within the next two years. Numerous private-equity firms have made buyout offers, but none have met Semsee’s expectations. “We think we have a big valuable business, and now is not the time to sell,” Charles-Pierre said. The company is “looking to streamline quoting for business insurance by providing independent agents with data tools to gauge real-time coverage capacity from the carriers with whom Semsee works.” O’Melveny & Myers LLP serves as legal counsel to Semsee.
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