LONDON, 4 March 2021 – TSP Ventures is proud to announce portfolio company Whitespace Software’s majority investment from Sequel, part of the Verisk Analytics group, a publicly listed US data company with over 9,000 employees globally.
TSP Ventures were an earlier stage investor in Whitespace and advised the team through the transaction. The investment represents a successful partial exit for TSP as well as the opportunity to remain a part of the exciting journey ahead. Whitespace have achieved amazing things in the London market already and will be able to accelerate their expansion plans by partnering with Sequel Verisk.
Chris Smith, TSP Ventures CEO, said: “Helping the Whitespace team with their strategy and ultimately advising them through the transaction with Sequel Verisk has been an absolute pleasure. The Whitespace Platform is what the insurance markets so desperately need and its fast expanding footprint is testament to this. We are thrilled to be shareholders in Whitespace and look forward to sharing in the company’s ongoing success.”
Marcus Broome, Whitespace Chief Platform Officer, said: “TSP Ventures invested in Whitespace a year or so ago and then helped us plot out our strategic direction. They were instrumental in negotiating the deal with Sequel Verisk and provided strong support and advice throughout the whole process. We are pleased that they remain as shareholders in this next exciting stage of our development.”
Whitespace Software Limited is a London-based technology company focused on the digital transformation of the insurance industry. It has particular expertise in digital contracts, electronic trading, claims management, pricing and Lloyd’s members’ agents – the area that drove its first success when it started in 1985. Today it uses the very latest technologies to deliver the best possible digital insurance experiences at internet scale and with enterprise security. A key focus is the Whitespace Platform, the truly digital platform for the global (re)insurance marketplace, and one of only two platforms fully approved by Lloyd’s. www.whitespace.co.uk.