Total amount raised
$8.7 Billions
Latest funding date
6/1/2024
Location
Acrisure has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company offers a range of financial services solutions, including insurance, reinsurance, and asset management.
Keep reading to explore the intricacies of Acrisure's fundraising journey and the investors backing this dynamic platform.
What Is Acrisure?
Acrisure, founded in 2005 by Greg Williams and Ricky Norris, is headquartered in Grand Rapids, Michigan. The company specializes in a broad spectrum of financial services, including insurance, reinsurance, real estate, cyber services, and asset and wealth management.
With a workforce exceeding 10,001 employees, Acrisure has established itself as a significant player in the financial services industry. Their offerings range from personal and business insurance to employee benefit services and managed IT solutions.
Over the years, Acrisure has expanded its portfolio to include a variety of specialized services, ensuring comprehensive solutions for their clients' diverse needs.
How Much Funding Has Acrisure Raised?
- Funding Round: Private Equity Round
- Amount Raised: $20M
- Date: January 2010
- Lead Investors: Greenhill Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and expansion efforts.
- Funding Round: Private Equity Round
- Amount Raised: Not publicly disclosed
- Date: January 2017
- Lead Investors: Veronis Suhler Stevenson
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To facilitate strategic acquisitions and market expansion.
- Funding Round: Private Equity Round
- Amount Raised: $2B
- Date: December 2018
- Lead Investors: Blackstone Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological infrastructure and expand service offerings.
- Funding Round: Secondary Market
- Amount Raised: Not publicly disclosed
- Date: July 2020
- Lead Investors: Tulco
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage Tulco's AI capabilities for operational efficiencies.
- Funding Round: Private Equity Round
- Amount Raised: $3.5B
- Date: March 2021
- Lead Investors: BDT & MSD Partners
- Valuation at Round: $17.5B
- Motivation Behind the Round: To support aggressive growth and acquisition strategy.
- Funding Round: Private Equity Round
- Amount Raised: $725M
- Date: May 2022
- Lead Investors: Abu Dhabi Investment Authority
- Valuation at Round: $23B
- Motivation Behind the Round: To increase brand awareness and invest in human and technological infrastructure.
- Funding Round: Debt Financing
- Amount Raised: $925M
- Date: January 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To refinance existing debt and support ongoing operations.
- Funding Round: Debt Financing
- Amount Raised: $1.6B
- Date: June 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund further acquisitions and technological advancements.
Total Amount Raised: $8.77B. Current Valuation: $23B.
Key Investors
- Abu Dhabi Investment Authority (ADIA)
- Details: ADIA is a sovereign wealth fund owned by the Emirate of Abu Dhabi. It is one of the world's largest and most influential investment funds.
- Investment Focus Areas: Equities, fixed income, real estate, private equity, infrastructure.
- Notable Investments: Global real estate, infrastructure projects, various public and private equity markets.
- Blackstone Group
- Details: Blackstone Group is a leading global investment firm specializing in private equity, real estate, and credit. It manages assets for public and corporate pension funds, academic, cultural, and charitable organizations.
- Investment Focus Areas: Private equity, real estate, credit, hedge fund solutions.
- Notable Investments: Hilton Worldwide, Refinitiv, Bumble.
- BDT & MSD Partners
- Details: BDT & MSD Partners is a merchant bank that provides advice and capital to family and founder-led businesses. It combines the expertise of BDT Capital Partners and MSD Partners.
- Investment Focus Areas: Family and founder-led businesses, private equity, advisory services.
- Notable Investments: Not publicly disclosed.
- Veronis Suhler Stevenson
- Details: Veronis Suhler Stevenson is a private investment firm that focuses on the information, education, and media sectors. It provides capital for growth, buyouts, and recapitalizations.
- Investment Focus Areas: Information, education, media, communications.
- Notable Investments: Not publicly disclosed.
- Greenhill Capital Partners
- Details: Greenhill Capital Partners is a private equity firm that invests in middle-market companies. It focuses on providing growth capital and supporting management teams.
- Investment Focus Areas: Financial services, healthcare, energy, consumer products.
- Notable Investments: Not publicly disclosed.
What's Next for Acrisure?
With a fresh $725 million in funding, Acrisure is poised to capitalize on significant opportunities. The company plans to enhance brand awareness and invest in human and technological infrastructure, setting the stage for substantial growth. The rise in global commercial insurance premiums, which increased by 11% in the first quarter, presents a favorable market condition for Acrisure's diverse range of services.
Future fundraising opportunities seem promising, given Acrisure's rapid revenue growth from $38 million to $3.5 billion over eight years. However, challenges such as market volatility and the effective integration of new investments could pose hurdles. Despite these challenges, Acrisure's strategic focus on infrastructure and brand expansion positions it well for continued success.
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