About FirstBest
FirstBest is a company based in Foster City (United States) founded in 2006 was acquired by Guidewire in August 2016.. FirstBest has raised $23.68 million across 3 funding rounds from investors including Guidewire, Verisk and Flybridge Capital Partners. The company has 48 employees as of December 31, 2016. FirstBest operates in a competitive market with competitors including Guidewire, Bold Penguin, BetterView, OneShield and Duck Creek, among others.
- Headquarter Foster City, United States
- Employees 48 as on 31 Dec, 2016
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Sectors
Financial Services
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Phone
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Website
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Social
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Leadership Team
2 people
Operations Team
1 people
Sr. Team
1 people
Product Management Team
1 people
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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 Total Funding
- Total Rounds 3
- Last Round Series C — $10.7M
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First Round
First Round
(13 Nov 2007)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2012 | Amount | Series C - FirstBest | Valuation | NewSpring , Verisk | |
| Mar, 2009 | Amount | Series B - FirstBest | Valuation | Flybridge Capital Partners | |
| Nov, 2007 | Amount | Series A - FirstBest | Valuation | Flybridge Capital Partners |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage tech startups are funded by Flybridge Capital Partners.
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Founded Year | Domain | Location | |
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Investment firm focusing on lower-middle market growth, healthcare, and various strategies.
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Founded Year | Domain | Location | |
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Brookstone Partners is engaged in transformative capital investments.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by FirstBest
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - FirstBest
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Firstbest Comparisons
Competitors of FirstBest
FirstBest operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Guidewire, Bold Penguin, BetterView, OneShield and Duck Creek, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based platform for property and casualty insurance is provided.
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| domain | founded_year | HQ Location |
Software suite is offered for commercial insurance quoting and binding.
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| domain | founded_year | HQ Location |
Insurance policy management and risk management solutions for the P&C insurance industry
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| domain | founded_year | HQ Location |
Cloud-based insurance policy and claims management solutions for the p&c insurance industry
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| domain | founded_year | HQ Location |
Cloud-based solutions for property, casualty, and general insurance are provided.
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| domain | founded_year | HQ Location |
Insurity is recognized for providing cloud-native insurance software solutions.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Firstbest
Frequently Asked Questions about FirstBest
When was FirstBest founded?
FirstBest was founded in 2006 and raised its 1st funding round 1 year after it was founded.
Where is FirstBest located?
FirstBest is headquartered in Foster City, United States. It is registered at Foster City, California, United States.
Is FirstBest a funded company?
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 13, 2007.
How many employees does FirstBest have?
As of Dec 31, 2016, the latest employee count at FirstBest is 48.
What does FirstBest do?
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.
Who are the top competitors of FirstBest?
FirstBest's top competitors include Guidewire, Bold Penguin and OneShield.
Who are FirstBest's investors?
FirstBest has 5 investors. Key investors include Guidewire, Verisk, Flybridge Capital Partners, NewSpring Capital, and Brookstone Partners.
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