—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 the Founder in his ongoing role as CEO, and recruited the co-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