Investor takes minority stake in RMIS provider
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Spectrum Equity has taken a minority stake in Origami Risk L.L.C., a provider of risk management information systems, Origami said in a statement Monday.
Financial terms of the transaction were not disclosed.
Boston-based Spectrum is the first institutional investor for privately held, Chicago-based Origami, the statement said.
Funds will be used to “facilitate access to additional insights and resources, as well as the ability to selectively pursue accretive acquisitions,” the statement said.
“Origami’s executive leadership continues to hold majority ownership in the firm. Our customers can expect the continuation of our current strategies which focus on customer success above all else,” Origami CEO Robert Petrie said in an email.
Origami Risk provides software and services to risk managers and others including RMIS as well as claims, safety, analytics, underwriting and data tools, the statement said.
“We are excited to partner with Spectrum Equity and look forward to leveraging Spectrum’s expertise with SaaS businesses and domain knowledge of risk and information services sectors,” Robert Petrie, CEO and co-founder of Origami Risk, said in the statement.
“The Origami Risk management team has built an innovative, high-growth business, and we have been continuously impressed with their accomplishments while getting to know them over the last five years,” Mike Farrell, Spectrum Equity managing director, said in the statement.
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