Kayne Anderson Rudnick and Whale Rock Join Prior Investors to Invest $230M in Duck Creek Technologies

June 10, 2020

Duck Creek Technologies, a Boston-based provider of SaaS core systems for the property & casualty insurance industry, received a $230 million investment commitment from Kayne Anderson Rudnick and Whale Rock alongside prior investors including Dragoneer, Insight Partners, Neuberger Berman and Temasek. The capital will fund product development and international expansion of Duck Creek OnDemand and enable the company to repurchase equity from certain existing investors; J.P. Morgan served as sole placement agent.

Buyers
Kayne Anderson Rudnick Investment Management, Whale Rock Capital Management, Dragoneer Investment Group, Insight Partners, Neuberger Berman Investment Advisers LLC, Temasek, Apax Partners
Targets
Duck Creek Technologies
Sellers
Certain existing investors (unnamed)
Industry
Cloud & SaaS
Location
Massachusetts, United States
Transaction Type
Growth capital

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