8 months ago, I wrote a piece profiling our investment in Riskmatch, a platform for connecting commercial insurance carriers and brokers. Earlier this week, we were happy to announce that Riskmatch had been acquired by the industry’s leading software provider, Vertafore, in a deal that would provide access to Vertafore’s network of 25,000 agencies and 1,000 carriers. It’s truly a match made in heaven for these two companies and we are elated about the outcome for each of the firms.
Through my time working with Riskmatch and the 6 months I spent getting to know Kabir Syed (their founder/CEO) beforehand, he has demonstrated extremely high passion for entrepreneurship, impeccable integrity and, above all else, loyalty to his employees and clients. It was indeed this cocktail of talent that enabled Riskmatch to grow incredibly fast in an area where many others had tried and failed. His surrounding team shares his insatiable passion for what they do and the company feels more like a large extended family than an insuretech startup.
Riskmatch’s secret to success lies with its team, who possesses a deeper understanding of and passion for the commercial insurance market than any I’ve seen to date. I’ve frequently opined on the massive opportunity available in this industry, but for the team at Riskmatch, disruption of that market is at the heart of their mission and truly runs down to their bones. This partnership with Vertafore will enable them to do that and I’m looking forward to seeing that evolution take place.
Returning to our post from August, one customers cited, ‘Kabir is the real deal. He’s extremely respected in the industry and one of the few guys that could pull off a project this ambitious.” It turns out that customer was right. It’s always bittersweet when you sell a company, but we are incredibly honored to have been a part of the Riskmatch journey and wish the Vertafore/Rismatch team continued success.