Adams Capital Management Leads $8 Million Investment in a Series B Funding Round for ProspX

Based in Austin, Texas, ProspX is one of the first on demand sales and collaborating service has announced on February 28, 2011, that it has completed an $8 million series B funding round led by Adams Capital Management. Other investors who participated in this funding round include HPI Real Estate Services and Investments.

ProspX is a first of its kind in allowing professionals to collaborate in the insurance industry. What makes ProspX so unique is that its platform allows people to make searches and sales on demand. What makes this system work so well is that it is able to manage a complex multi-party sales process. Commercial insurance sales is an industry that it worth over $500 billion. The platform that ProspX offers is actually a SaaS or Software as a Service application that insurance professionals can access online. This series B funding round is only a shadow of the capital that the company has raised in the past. As a token of the ProspX’s success shows, the company has raised together with this current funding round a sum of over $14.5 million.

Currently over 4,000 insurance brokers and over 16,000 carrier underwriters are using the service that ProspX provides.

Proceeds of this current funding round will go to help the company fund its amazing growth. Since ProspX was founded in 1994, its platform has met many of the unmet needs of the commercial insurance industry in the internet age.

According to Martin Neath, general partner at Adams Capital Management, ProspX has built a platform that can generate incredible revenue for insurance companies. Furthermore, the service that ProspX is providing has resulted in high quality results and many satisfied customers. Mr. Neath further added that he believes that the team at Adams Capital Management has been excited at the growth that ProspX has been showing. He believes that Adams Capital will continue to support the company for years to come.

More praises about ProspX were also sung by the company’s president and CEO, Todd Young, the support of such prominent investors into the company and its talented team shows that the product that ProspX has to offer meets many unmet needs in the commercial insurance industry during the internet age. Furthermore, the funding that the company’s investment partners has been giving will allow ProspX to continue to grow and develop new products and services based on the current platform it currently offers.

Adams Capital Management is one of the largest global investment firms in the United States. Founded in 1994, Adams Capital Management has grown to invest in many companies who are in the IT, network infrastructure, and semiconductor industries. Currently Adams Capital Management leads investments, especially early investments, such as series A and B funding rounds and has over $815 million under its management. Some other companies in Adams Capital’s portfolio include Additech, BuzzLogic, Dynamics, First Insight, and others.

HPI Real Estate Services and Investments is a real estate company that is based in Austin Texas and serves the central Texas area. The firm also offers investments to companies that can provide services to the real estate industry. HPI also assesses tenant growth and other real estate related matters. HPI manages industrial, residential, and rental properties throughout Texas.