15.05.2017
ControlExpert, one of the leading service providers to the insurance and automotive industry, and General Atlantic, a world leader in growth capital, announce their entry into a strategic partnership. Known for it’s successful investments in fast-growing companies such as Uber, Airbnb and Flixbus, General Atlantic will strategically support ControlExpert’s growth in global markets.
Langenfeld, Munich, NY (ots)
Founded in 2002, ControlExpert has been providing services for handling vehicle claims and maintenance processes efficiently. With the help of the unique combination of automotive expertise, software algorithms, data analysis and artificial intelligence, the extent of a damage and the associated repair costs can be reliably assessed. As a pioneer in automation and digitalization, ControlExpert simplifies the communication between all parties involved in the claim process (such as insurance companies, car manufacturers, leasing companies, fleet operators, car dealerships, repair shops and vehicle owners), enabling cost- and time-efficient claims handling. In addition to Germany, the company supports customers in 13 other countries.
"We have developed a variety of innovative solutions that revolutionize the claims handling processes," said ControlExpert founder and CEO Gerhard Witte. "We look forward to partnering with General Atlantic to help us expand both our business in Germany and our international operations, and I believe we will benefit from the comprehensive expertise and global experience of our partner General Atlantic."
"ControlExpert is a technology and innovation leader with an excellent reputation in the claims and services industry," said Jörn Nikolay, managing director and chief executive officer of General Atlantic. "With our branch expertise and global footprint we believe we can support ControlExpert to become a global strategic partner to the claims and services industry."
"Together with General Atlantic, we will continue to forge ahead the business globally through continuous digitalization and professionalization of our products and services," said ControlExpert CEO Kai Siersleben.
"We believe that the combination of proprietary technology, artificial intelligence, big data analytics and expert knowledge provides ControlExpert with a significant competitive advantage," added Achim Berg, Operating Partner at General Atlantic. "We are impressed with ControlExpert's success so far and are pleased to share our expertise and network in building the company into a global brand."
In the next period of growth, ControlExpert will focus on further enhancing its technology platform, enabling customers to continue benefitting from the industry's best product and service quality and cutting-edge innovation. "We are very pleased to be taking the next development step in digitalization and to have such a professional partner at our side," said Managing Director Nicolas Witte. "Together with General Atlantic, we will continue push innovation in claims- and service-processing worldwide."
In connection with General Atlantic's investment, Jörn Nikolay and Achim Berg will join the Advisory Board of ControlExpert. The management and all other management bodies remain unchanged in their composition.
About ControlExpert
ControlExpert is a full-service provider for the automotive industry based in Langenfeld between Düsseldorf and Cologne (Rhineland). The company develops various products and services for insurance companies, fleet operators, leasing companies, repair shops, car dealerships, car manufacturers and car experts. The goal is to link all parties involved in the claims and repair process and to create an electronic, data-driven communication standard, based on structured data. ControlExpert, the digital pioneer of automation in this branch, ensures fast, digital processes and a high degree of transparency. controlexpert.com
About General Atlantic
General Atlantic is a leading global growth investor, providing capital and strategic support to companies with high growth potential. Founded in 1980, the company combines a collaborative global approach, industry-specific expertise, long-term investment horizons and a deep understanding of growth drivers with outstanding management teams to create exceptional business models worldwide. The General Atlantic team includes more than 100 investment professionals in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo and Singapore. http://www.generalatlantic.com/