Guidewire Software, which provides enterprise software and services to 103 P&C insurers, raised $115 million by offering 8.85 million shares at $13, above the range of $10 to $12. The company had originally planned to offer 7.5 million shares. Guidewire Software plans to list on the NYSE under the symbol GWRE. J.P. Morgan, Deutsche Bank Securities and Citi acted as lead managers on the deal.
Guidewire's software solutions streamline the claims management, underwriting and billing process for its 103 P&C insurance clients. Benefits include reduced claims fraud and increased underwriting accuracy. Read more about Guidewire's business, risks and outlook.
