Duck Creek Technologies, a leading SaaS provider of core systems software for P&C insurers, raised $405 million by offering 15 million shares at $27, above the revised range of $23 to $25. The company had originally filed to offer 15 million shares at a range of $19 to $21. Insiders Dragoneer Investment Group, Neuberger Berman, and Insight Partners indicated an interest in purchasing up to $100 million of the IPO.
Duck Creek Technologies plans to list on the Nasdaq under the symbol DCT. Goldman Sachs, J.P. Morgan, BofA Securities, Barclays and RBC Capital Markets acted as lead managers on the deal.
