Global IQX Inc.
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Global IQX Inc. - overview
Established
2000
Location
Ottawa, ON, Canada
Primary Industry
Software
About
Global IQX Inc. specializes in Intelligent Sales and Underwriting Workbench software, providing innovative solutions for group and voluntary benefits insurance, enhancing efficiency across quoting, enrollment, and renewals. Founded in 2000 in Ottawa, Canada, Global IQX Inc. focuses on creating software solutions for the insurance industry.
The company was acquired by Majesco US in October 2022, aimed at enhancing business transformation solutions in the insurance sector. Mike de Waal, the founder, has played a pivotal role in the company's strategic direction. The primary offering of Global IQX Inc. is the Intelligent Sales & Underwriting Workbench software, designed for group and voluntary benefits insurance.
This comprehensive solution streamlines quoting, rating, proposals, enrollment, and automated renewals, leveraging AI-driven technology for enhanced operational efficiency. The platform supports brokers, agents, underwriters, and actuarial users, and is utilized by insurers across North America, Europe, and Asia-Pacific, addressing the evolving needs in the insurance sector. Global IQX Inc. generates revenue through a subscription-based model linked to its Intelligent Sales & Underwriting Workbench software, primarily focusing on B2B transactions with insurance providers.
Clients typically enter annual licensing agreements for access to the software's features, allowing scalable adaptation based on their needs. The pricing structure reflects the complexity of the software, tailored to fit the specific requirements of client organizations, making it central to the company’s revenue strategy. Following its acquisition by Majesco US in October 2022, Global IQX Inc. plans to leverage this partnership to enhance its product offerings and market presence.
The acquisition aims to deliver innovative business solutions and improve operational effectiveness, ultimately enriching customer experiences. The company is strategizing to expand into additional markets within North America and Europe, focusing on enhancing its software capabilities and accelerating product development, aligning with Majesco's vision for transformative growth.
Current Investors
Thoma Bravo, Majesco
Primary Industry
Software
Sub Industries
Insurance, Accounting/Finance Software, Systems Management Software
Website
www.globaliqx.com
Verticals
Cloud Computing, InsureTech
Company Stage
Add-on
Total Amount Raised
Subscriber access only
Global IQX Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | Global IQX Inc. | - |
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