MidCap Equity Partners Invests in BeneFix - a Leading Software Provider for the Insurance Brokerage Industry
08:40 ET
NEW YORK, April 4, 2018 /PRNewswire/ -- In support of its continuing growth, MidCap Equity Partners, LLC ("Midcap") has invested in BeneFix, a provider of state-of-the-art technology for independent insurance brokers.
"I founded BeneFix to overcome the difficulties with the insurance process that I've faced firsthand while trying to enroll in benefits plans," said CEO Matt Ranauro. "This investment will support our continued expansion into a broader market and help us continue extending the functionality of our software so that moving forward, business-owners and employees can find this an easier and more enjoyable process.
BeneFix provides an intuitive and powerful platform that allows small businesses and brokers to easily manage benefits and speed up their process. By overhauling a historically paper-drive process the BeneFix platform makes it simpler for businesses, brokers and carriers to stay organized, up-to-date and in constant communication.
"We're incredibly excited to be working with Matt and investing in BeneFix," added MidCap Co-Founding Partner, Doug Hendrickson. "We believe the insurance industry is a space ripe for innovation and BeneFix has created new solutions for problems that most businesses face. Matt and his team continue to impress us with their plans for growth and have attracted a strong investor base as a result."
"For many companies, enrolling in benefits continues to be needlessly complicated," continued Ranauro. "Going through every individual carrier to get each and every quote and then juggling this information across different spreadsheets for every product costs unnecessary time and makes mistakes more likely," he explained. "We've made this process straightforward and pride ourselves on providing proactive support so our customers are always on top of their process."
"We look forward to working more with the BeneFix team helping them grow as they continue to provide a key service to many more businesses," finished Hendrickson.
About BeneFix
BeneFix is a leading software provider for the insurance brokerage industry. It maintains a platform that simplifies the process for brokers to find and gather quotes from insurance providers. By finding quotes in real-time and ensuring accuracy BeneFix helps businesses, brokers and carriers speed up their process and lower costs with its one-stop software.
About MidCap Equity Partners
MidCap Equity Partners, LLC, is a New York City-based private equity firm that partners with talented management teams to invest in lower end middle-market companies. MidCap tailors its unique combination of operational, strategic and financial resources with management's vision to obtain optimal results. For more information, please see www.midcapequity.com.
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SOURCE MidCap Advisors