Blue Cod Technologies Closes $1.75M in Acceleration Round

New Strategic Investment to Drive Growth of Managed Insurance Services

MARLBOROUGH, Mass.--(BUSINESS WIRE)-- Blue Cod Technologies, Inc., the leading Managed Insurance Services provider for the property and casualty (P&C) industry, today announced closing an additional round of investment led by Edison Ventures, a financial backer since the company’s initial Series A round.

Blue Cod will use the new investment to enhance the company’s core Managed Insurance Services business by accelerating product development and sales and marketing efforts with a focus on the California Earthquake and the Coastal Homeowner insurance markets. In his recently expanded role of president and CEO, Robert Bruce guided the funding, which served as a follow up to the C round in August 2011.

“Blue Cod’s sales and operational performance goals are aggressive,” said Bruce. “In response, we have restructured and better focused our sales and marketing efforts, streamlined our business operations and set clear-cut business objectives. The funding combined with these key changes will allow us to intelligently, consistently and effectively grow our Managed Insurance Services business.”

During the last 10 years, Blue Cod has grown from an aggressive start-up to the premier provider of Managed Insurance Services in the P&C industry. The continued support and funding from top industry venture capitalists is further validation of Blue Cod’s market leadership position and the strength of the company’s business model.

“Edison Ventures partners with companies that have the executive leadership, focus and innovation to be market leaders,” said Tom Vander Schaaff, partner, Edison Ventures. “Blue Cod has proven to evolve and remain competitive even within the ever-changing and unpredictable insurance business environment. We are confident in Blue Cod’s ability to deliver and we are proud to continue our support of Blue Cod.”

About Blue Cod Technologies, Inc.

Blue Cod, the leading provider of managed insurance services for the property and casualty (P&C) industry, addresses the support and technology needs of carriers in the Earthquake, Homeowner, Auto, Farmowners and Commercial Package markets. Blue Cod’s team of experienced insurance, technology and implementation specialists deliver high-end insurance services at a lower operational and capital expense than can be achieved through an organization’s internal staff. Blue Cod offers customers the ability to create customized solutions or take advantage of specialized programs such as CEA Process, Coastal Homeowner, FAIR Plan Process and Assigned Risk Auto.

Blue CodKaren Regan, 508-683-2876
[email protected]

Source: Blue Cod Technologies, Inc.