In order to align its image with its growth trajectory, insurance technology company Majesco launched a new brand identity, the Morristown-based firm announced May 11.
Acquired by Chicago-based private equity firm Thoma Bravo LP in July 2020 for $594 million, Majesco said the new identity better reflects its “next-gen technology and extensive industry experience that reimagines insurance for the betterment of all.”
“Since the acquisition by Thoma Bravo in 2020 we have significantly accelerated our growth strategy, expanded product offerings and delivery capabilities, and strengthened our strategic partnerships,” Majesco CEO Adam Elster said in a statement. “While our business has transformed and kept pace with market changes, it became clear that the perception of our brand did not evolve at the same speed. This evolution of the Majesco brand combines the most comprehensive set of digital insurance products, expertise, and experience, as well as a deep understanding of our customer’s needs and goals.”
Laura Tillotson, Majesco’s director of marketing communications and creative services, told NJBIZ the first phase of the company’s “brand evolution” includes a new logo, color palette and tagline – “Your Next Now” – as well as new messaging – such as brand mission, vision, values and purpose – that will be reflected in the company’s presentations, materials and website.
Tillotson said the next phase will include a new website design “that not only reflects our new brand identity, but also better serves our customers and partners.”
In addition to the rebranding announcement, the company highlighted its 2021 financial achievements, including approaching $250 million in total revenue, with significant growth including 40% subscription and 28% product; an expanded SaaS portfolio and addition customers with its ClaimVantage and Utilant acquisitions; and product revenues exceeding 60% of total revenue.
Majesco has also added 250 employees, launched 14 products and earned several industry awards, including a Salesforce Partner Innovation Award Winner.
“We are thrilled with the level of execution from the Majesco team and are confident this new brand aligns with the direction of the company,” added A.J. Rohde, Thoma Bravo senior partner. “We’ve been excited about the growth potential of Majesco right from the start, and with the addition of the ClaimVantage and Utilant teams last year, we couldn’t be more confident in our investment. Their customer-centric strategy is clearly identified in the new brand and accelerated product roadmap. Complemented with strengthened partnerships, and continued focus on M&A, they are primed for a ground-breaking year.”