Blue Cod Technologies said Tuesday that it has received an undisclosed investment in a round led by Edison Ventures. Headquartered in Marlborough, Mass., Blue Cod Technologies is a provider managed insurance services for the property and casualty industry.
MARLBOROUGH, Mass.–(BUSINESS WIRE)–Blue Cod Technologies, Inc., the leading Managed Insurance Services provider for the property and casualty (P&C) industry, today announced the closing of its acceleration round, led by Edison Ventures.
Blue Cod will use the new investment to enhance the company’s core Managed Insurance Services business by accelerating sales and marketing efforts with a continued focus on the California Earthquake, Coastal Homeowner and the SMB regional insurance markets. President and CEO Robert Bruce guided the funding. ”Blue Cod’s sales performance goals are aggressive,” said Bruce. “In response, we have expanded our sales and marketing efforts with new leadership and new service offerings. This funding, together with profitable operations, will supplement our continued focus on accelerating revenue growth and expanding profit margin.”
During the last 10 years, Blue Cod has grown from an aggressive start-up to the premier provider of Managed Insurance Services in the P&C industry. The continued support and funding from top industry venture capitalists is further validation of Blue Cod’s market leadership position and the strength of the company’s business model.
“Edison Ventures partners with companies that have the executive leadership, focus and innovation to be a market leader,” said Michael Balmuth, General Partner, Edison Ventures. “Blue Cod has a proven track record of evolving and remaining competitive through the ever-changing insurance business environment. We are proud to continue our support of Blue Cod.”
About Blue Cod Technologies, Inc.
Blue Cod Technologies, Inc. is the leading provider of managed insurance services for the property and casualty (P&C) industry and addresses the support and technology needs of start-up, SMB and enterprise-class carriers in the Earthquake, Homeowner, Auto, Farmowners and Commercial Package markets. Blue Cod’s team of experienced insurance, technology and implementation specialists deliver high-end insurance services at a lower operational and capital expense than can be achieved through an organization’s internal staff. Blue Cod offers customers the ability to create customized solutions or take advantage of specialized programs such as CEA Process, Coastal Homeowner, FAIR Plan Process, and Assigned Risk Auto and to address common insurance challenges.