SunFire (SunFireMatrix), a software and tech-enabled services platform serving the insurance distribution and health plan markets, announced that it has been acquired by funds managed by KKR. The funds managed by Stone Point Capital (the company’s previous majority owner) will remain a significant minority shareholder. The financial details of the transaction were undisclosed.
KKR is fueling this investment through its Health Care Strategic Growth (HCSG) Fund II, which is focused on investing in high-growth healthcare companies to which KKR can be a unique strategic partner in helping reach scale.
Evercore and William Blair were financial advisors to KKR and SunFire, respectively.
KEY QUOTES:
“We are excited to strategically partner with KKR, given our shared commitment to transforming the healthcare landscape. KKR and Stone Point’s support provides us with unique access and guidance, helping us to continue to grow and serve our customers and beneficiaries.”
– David Graf, CEO of SunFire
“SunFire is a leading, purpose-built platform with a culture of customer centricity and patient focus that we believe is highly differentiated. We have been impressed by what Dave and the entire SunFire team have achieved and look forward to collaborating closely with them during the next phase of the Company’s growth.”
– Ali Satvat, Partner and Global Head of Health Care Strategic Growth at KKR
“We are thrilled to support SunFire in its mission to utilize industry-leading technology and best-in-class customer service to create a more seamless and reliable experience for patients, health plans, and its distribution partners.”
– Johnny Kim, Director at KKR
“We are delighted to continue our partnership with David Graf and Kevin Waldman and the entire SunFire team, and welcome KKR, in this next phase of growth for the company. Over the past three years, SunFire has maintained its leadership position by developing innovative solutions to simplify beneficiary enrollment and to provide critical tools to agents and its carrier clients.”
– Nick Zerbib from Stone Point Capital
