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Guidewire


Guidewire: Believing in Massive Opportunity from a Single Vertical Market
Sector: Software & Services
Stage: Growth
Location: San Mateo, CA
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—Situation

  • Battery team saw that the Property & Casualty Insurance industry was undergoing a major shift:   companies en masse were upgrading their legacy systems to modernize business processes, improve customer service and reduce system maintenance costs
  • The team had tracked Guidewire for years, a fast-growth technology leader run by a CEO they had backed at Supplier Market (sold to Ariba)
  • Although addressing a seemingly niche vertical market, Battery believed there was massive opportunity for Guidewire, even as other investors saw the market as too narrow
  • The Battery team acted with conviction and led a Growth round for the company

—The Battery Difference

  • Battery’s capital was used to expand Guidewire’s footprint in policy management, a key area for growth
  • Identified and helped diligence multiple acquisition opportunities
  • Supported one of the Founders in his ongoing role as CEO, and recruited another Founder as an Executive in Residence at Battery, to work on related software projects at the Firm

—Results

  • NASDAQ:  GWRE ~ January 2012
  • Reinforcing its bullishness, Battery was a significant buyer in the IPO, facilitating the company’s ability to market to new public investors