About FirstBest
FirstBest is a Financial Services company based in Foster City (United States) founded in 2006, and was acquired by Guidewire in August 2016. Software solutions for property and casualty insurers are provided. FirstBest has raised $23.68 million across 3 funding rounds from investors including Guidewire, Verisk and Flybridge Capital Partners. The company has 48 employees. Its focus areas include FinTech, Insurance IT, Insurance Policy Solutions and Insurance Software Suite. Its competitors include Guidewire, Bold Penguin and BetterView; 2 of its 3 listed competitors have raised funding.
Company details
FirstBest Systems provides software solutions for property and casualty insurers. It offers solutions that include underwriting workstations, agent portals, agency connectivity and new business systems. They came up with a purpose to easen the underwriting process and add more efficiency to the system. FirstBest UMS, which combines underwriting and business analyst workstations with a Web 2.0 agent portal; FirstBest Agent, a point-of-sale portal for new business and renewals with supplemental data, shared documents, notes, and email notifications; and FirstBest Application Form Reader, an automatic form image translator. The company also provides FirstBest Front Office Suite that brings agents, brokers, MGAs, MGUs and underwriters together in a collaborative underwriting process that incorporates business rules, collaboration and knowledge management tools, activities, predictive analytics, and information needed to submit, evaluate, quote, and close business.
- Headquarters Foster City, United States
- Employees 48
- Stage Acquired
- SectorsFinancial Services
- Website firstbest.com
- Social X
- Acquired by Guidewire (Aug 2016)
Funding Insights of FirstBest
FirstBest has successfully raised a total of $23.68M across 3 strategic funding rounds. The most recent funding activity was a Series C round of $10.67 million completed in April 2012. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $23.68M
- Total Rounds 3
- Last Round Series C — $10.67M
- First Round $7M
(Nov 2007)
- Investors Count 4
All 3 funding rounds of FirstBest with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr 2012 | $10.67M | Series C | – | NewSpring, Verisk | |
| Mar 2009 | $6M | Series B | – | Flybridge Capital Partners | |
| Nov 2007 | $7M | Series A | – | Flybridge Capital Partners |
5 investors in total: 5 institutional.
Investors in FirstBest
FirstBest has secured backing from 5 investors, including venture fund and institutional investors. Prominent investors backing the company include Guidewire, Verisk and Flybridge Capital Partners.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage tech startups are funded by Flybridge Capital Partners. | flybridge.com | New York, United States | ||
Investment firm focusing on lower-middle market growth, healthcare, and various strategies. | newspringcapital.com | |||
Brookstone Partners is engaged in transformative capital investments. | brookstonepartners.com | New York, United States | ||
Insurance data insight and risk analytics solutions for the insurance industry | 1971 | verisk.com | Jersey City, United States | |
Cloud-based platform for property and casualty insurance is provided. | 2001 | guidewire.com | San Mateo, United States |
Investor details for FirstBest
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People of FirstBest
5 people are tracked at FirstBest (3 in leadership, 2 in team); the tracked headcount is 48.
| Name | Role | Group |
|---|---|---|
Kelly Lynch | Senior Director, Education Practice | Leadership |
Mike Rosenbaum | Chief Executive Officer | Leadership |
Mike Calandra | Director, Saas Operations | Leadership |
Iftikhar Ali Khan | Sr. Manager | Team |
Gary Hanley | Senior Saas Production Support Engineer | Team |
Complete people profiles for FirstBest
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Timeline of FirstBest
4 dated milestones of FirstBest across 10 years, from founding to its latest funding, stage changes and deals.
- Founded FirstBest is founded.
- Funding First funding round of $7.0M.
- Funding Latest funding round, Series C, of $10.7M.
- Exit Acquired by Guidewire.
Competitors of FirstBest
FirstBest has 3 listed competitors in our database, 2 of them funded. They include Guidewire, Bold Penguin and BetterView.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| guidewire.com | 2001 | San Mateo, United States | 3,415 | Cloud-based platform for property and casualty insurance is provided. | ||
| boldpenguin.com | 2016 | Columbus, United States | $32.1M | 210 | Software suite is offered for commercial insurance quoting and binding. | |
| betterview.com | 2004 | San Francisco, United States | $15.55M | 58 | Insurance policy management and risk management solutions for the P&C insurance industry |
Detailed competitors of FirstBest
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- Full competitor set
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Web traffic of FirstBest
Websites that share an audience with FirstBest (firstbest.com).
Websites whose visitors overlap most with FirstBest. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| stoneriver.com | 100% | View details | |||
en.wikipedia.org | en.wikipedia.org | 96% | – | ||
| celent.com | 69% | 35.4K | #917,486 | View details |
Top companies in Insurance Technology & Support Services
3 companies that operate in the same segment as FirstBest (Insurance Technology & Support Services) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud-based platform for property and casualty insurance is provided. | 2001 | San Mateo, California, United States | USD 1.48 B | 226 | ||
Claims administration, loss adjusting, and benefits management services are provided. | 1969 | Memphis, Tennessee, United States | USD 2.63 M | |||
Online property and casualty insurance is provided for businesses. | 2017 | San Francisco, California, United States | USD 800 M | 699 |
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Related news about Firstbest
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Frequently Asked Questions about FirstBest
FirstBest was founded in 2006 and raised its 1st funding round 1 year after it was founded.
FirstBest is headquartered in Foster City, United States. It is registered at Foster City, California, United States.
FirstBest is a funded company, having raised a total of $23.68M across 3 funding rounds to date. The company's 1st funding round was a Series A of $7M, raised on Nov 2007.
FirstBest has 48 employees.
FirstBest Systems provides software solutions for property and casualty insurers. It offers solutions that include underwriting workstations, agent portals, agency connectivity and new business systems. They came up with a purpose to easen the underwriting process and add more efficiency to the system. FirstBest UMS, which combines underwriting and business analyst workstations with a Web 2.0 agent portal; FirstBest Agent, a point-of-sale portal for new business and renewals with supplemental data, shared documents, notes, and email notifications; and FirstBest Application Form Reader, an automatic form image translator. The company also provides FirstBest Front Office Suite that brings agents, brokers, MGAs, MGUs and underwriters together in a collaborative underwriting process that incorporates business rules, collaboration and knowledge management tools, activities, predictive analytics, and information needed to submit, evaluate, quote, and close business.
FirstBest's top competitors include Guidewire, Bold Penguin and BetterView.
FirstBest has 5 investors. Key investors include Guidewire, Verisk, Flybridge Capital Partners, NewSpring Capital, and Brookstone Partners.
Yes. FirstBest was acquired by Guidewire in August 2016.