About QBIS Insurance Solutions
QBIS Insurance Solutions is a Financial Services company based in Oakland (United States) founded in 2016, and was acquired by Patra in October 2018. Cloud-based underwriting and delivery platform for SMEs agents and brokers. QBIS Insurance Solutions has raised $3.75 million across 2 funding rounds from investors including Patra. The company was acqui-hired. Its focus areas include FinTech, Insurance IT, Insurance Policy Solutions and Insurance Software Suite. Its competitors include Socotra, ReSource Pro and Novidea; 3 of its 3 listed competitors have raised funding.
Company details
QBIS Insurance Solutions was founded in 2016 in Oakland, United States. A configurable SaaS platform is offered to agents and brokers in the SME insurance sector. End-to-end operations are supported, including policy distribution, quoting, binding, issuance, and management. The platform is designed for intuitive use within the insurance industry, focusing on streamlined workflows for small and medium enterprises.
- Headquarters Oakland, United States
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Website qbisins.com
- Social LinkedIn
- Acquired by Patra (Oct 2018)
Funding Insights of QBIS Insurance Solutions
QBIS Insurance Solutions has successfully raised a total of $3.75M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $749.95 thousand completed in September 2016. 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 $3.75M
- Total Rounds 2
- Last Round Series A — $749,952
- First Round $3M
(Sep 2016)
All 2 funding rounds of QBIS Insurance Solutions 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 |
|---|---|---|---|---|---|
| Sep 2016 | $749,952 | Series A | – | – | – |
| Sep 2016 | $3M | Series A | – | – | – |
1 investors in total: 1 institutional.
Investors in QBIS Insurance Solutions
QBIS Insurance Solutions has secured backing from 1 investor. Prominent investors backing the company include Patra.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Certificate processing solutions for property and casualty insurance are provided. | 2005 | patracorp.com | El Dorado Hills, United States |
Investor details for QBIS Insurance Solutions
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Timeline of QBIS Insurance Solutions
4 dated milestones of QBIS Insurance Solutions across 2 years, from founding to its latest funding, stage changes and deals.
- Founded QBIS Insurance Solutions is founded.
- Funding First funding round of $3.0M.
- Funding Latest funding round, Series A, of $750K.
- Exit Acquired by Patra.
Competitors of QBIS Insurance Solutions
QBIS Insurance Solutions has 3 listed competitors in our database, 3 of them funded. They include Socotra, ReSource Pro and Novidea.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| socotra.com | 2014 | San Francisco, United States | $85.09M | 37 | Cloud-based solutions for insurance policy management and underwriting are offered. | |
| resourcepro.com | 2003 | New York, United States | $87.37M | 3,180 | Insurance policy and claim management solutions for the insurance industry | |
| novidea.com | 2009 | Milwaukee, United States | $110M | Agency management platform for insurance brokers and agents is offered. |
Detailed competitors of QBIS Insurance Solutions
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- Full competitor set
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Top companies in Insurance Technology & Support Services
3 companies that operate in the same segment as QBIS Insurance Solutions (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 Qbis Insurance Solutions
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Frequently Asked Questions about QBIS Insurance Solutions
QBIS Insurance Solutions was founded in 2016.
QBIS Insurance Solutions is headquartered in Oakland, United States. It is registered at Oakland, California, United States.
QBIS Insurance Solutions is a funded company, having raised a total of $3.75M across 2 funding rounds to date. The company's 1st funding round was a Series A of $3M, raised on Sep 2016.
QBIS Insurance Solutions was founded in 2016 in Oakland, United States. A configurable SaaS platform is offered to agents and brokers in the SME insurance sector. End-to-end operations are supported, including policy distribution, quoting, binding, issuance, and management. The platform is designed for intuitive use within the insurance industry, focusing on streamlined workflows for small and medium enterprises.
QBIS Insurance Solutions's top competitors include Socotra, ReSource Pro and Novidea.
QBIS Insurance Solutions has 1 investor. Key investors include Patra.
Yes. QBIS Insurance Solutions was acquired by Patra in October 2018.