SambaSafety, the market leading provider of mobility risk management technology for auto insurance carriers, brokers and employers, today announced that investment funds managed by Stone Point Capital LLC (“Stone Point”) will become SambaSafety’s lead institutional investor. SambaSafety’s management team will continue to execute on its strategic roadmap and expand the company’s market-leading solutions that modernize driver risk pricing and reduce risk for insurance carriers and employers. Stone Point, which has invested in over 50 insurance and insurtech companies, will help power the next phase of the company’s growth by providing SambaSafety with additional capital to accelerate organic and inorganic product development.
SambaSafety’s Volta™ platform delivers highly accurate, configurable and cost-effective driver risk assessments to insurance underwriters. The company’s Qorta® platform helps employers and their commercial insurance partners to identify, monitor and reduce driver risk, eliminate blind spots and improve safety outcomes. Volta provides a compelling solution to help auto insurers address the challenge of persistent auto insurance losses and supports accurate risk assessment at every stage of the personal lines policy lifecycle. Qorta offers monitoring capabilities that reduce crashes and claims by double digits.
“Driving can be dangerous and expensive for business. For over 20 years, we have pioneered innovative software solutions addressing mobility risk, and today we serve more than 15,000 personal and commercial auto insurers and employers putting people behind the wheel for work,” said Allison Guidette, SambaSafety’s CEO. “We look forward to working with the team at Stone Point on the next chapter of the company’s growth, leveraging the firm’s resources and network to continue our trajectory of customer-focused innovation.”
Chuck Davis, Stone Point’s CEO, commented, “We have followed the success of SambaSafety for years and are now thrilled to partner with this strong management team to support their continued innovation. The company’s solutions for insurers provide unique AI-driven data insights into driver risk, resulting in reduced cost, improved conversion rates and optimized underwriting profitability. We’re backing SambaSafety to change the game for insurance risk assessment.”
SambaSafety will continue to be headquartered in Denver, CO and the company’s management team, led by Guidette, will remain in place.
Since 1998, SambaSafety is the leading North American provider of cloud-based mobility risk management software solutions for organizations with commercial and non-commercial drivers. Through the collection, correlation, and analysis of driver information, SambaSafety helps employers to identify high-risk drivers and enforce safety policies, insurers to make informed decisions, and background screeners to perform accurate, efficient pre-hire checks. Learn more at www.sambasafety.com.
About Stone Point Capital LLC
Stone Point is an investment firm based in Greenwich, CT, with approximately $30 billion of assets under management. Stone Point targets investments in companies in the global financial services industry and related sectors. The firm invests in a number of alternative asset classes, including private equity through its flagship Trident Funds. Stone Point also manages both liquid and private credit funds and managed accounts. In addition, Stone Point Capital Markets supports our firm, portfolio companies and other clients by providing dedicated financing solutions. Learn more at www.stonepoint.com.