Enservio Passed $50M In Revenue In 2013January 14, 2014
Boston Business Journal
by Kyle Alspach
Enservio said Tuesday that sales grew more than 50 percent between 2011 and 2013, giving the company revenue of at least $52.5 million in 2013.
Needham, Mass.-based Enservio is a provider of software for contents inventory creation, valuation and payment services to property insurers.
The company had previously disclosed revenue of $35 million for 2011 and $44.9 million in 2012, in survey responses to the Boston Business Journal.
The firm's goal "has always been to help insurers solve one of the biggest issues in property insurance — quantifying and valuing what's inside a policyholder's home or business," Enservio CEO Jon McNeill said in a news release. "This visibility into what's inside a property gives carriers a powerful advantage in right-pricing policies upfront, settling claims quickly and accurately, keeping customers happy, and lowering premiums and risk for the entire industry."
Founded in 2004, the company employed 250 in Massachusetts and 400 overall as of last April. Enservio has raised $16.1 million in funding from investors including Matrix Partners and Bain Capital Ventures, a spokesman said.