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Insurance technology software company Guidewire Software filed an initial public offering that aims to raise about $100 million, the company announced Tuesday.
Guidewire offers software solutions for insurance companies that provide property, workers’ compensation and casualty insurance to its customers. Its software solutions includes a web-based claims system, an enterprise application for transactions and other administrative tasks.
The startup has over 100 customers, including major insurance company clients, including Nationwide, CNA and American Family Insurance.
Founded in 2001, the San Mateo, California-based company brought in $144 million in revenue last year and $121.5 million in nine months (ending April 30, 2011), according to the S-1 document filed with the U.S. Securities and Exchange Commission.
J.P. Morgan Securities LLC, Deutsche Bank Securities and Citigroup will manage the IPO, while Stifel Nicolaus Weisel and Pacific Crest Securities will act as co-managers.