AcroSoft Corp.
Provider of insurance content management solutions.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
$3.3m | Early VC | ||
| Total Funding | 000k | ||
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AcroSoft Corp., founded in 1996, was a provider of enterprise content management (ECM) software specifically tailored for the insurance sector. The company developed a platform focused on insurance document management, imaging, and workflow automation.
The firm operated as a private entity headquartered in Columbia, South Carolina. In 2009, AcroSoft was acquired by Interactive Intelligence, Inc., and continued to serve the insurance marketplace with its specialized ECM solutions. A significant milestone in the company's history occurred on May 11, 2016, when Hyland, the creator of the OnBase platform, acquired substantially all of AcroSoft's ECM business from Interactive Intelligence. This strategic acquisition integrated AcroSoft's client base of approximately 50 insurance organizations into Hyland's existing portfolio, which already included over 500 insurance customers.
The acquisition was a move by Hyland to deepen its expertise and offerings within the insurance vertical. Both companies shared a focus on content and process management technology, which promised a synergistic future. Hyland's OnBase platform provides a comprehensive suite of services including ECM, case management, business process management (BPM), and data capture, designed to integrate with core insurance systems like policy administration, billing, and claims management. The business model for this type of software typically involves licensing fees for the platform and recurring revenue from maintenance, support, and cloud services. Following the acquisition, the AcroSoft brand and its specific offerings were absorbed into Hyland's broader product suite, which is now marketed under the Hyland and OnBase brands.
Keywords: AcroSoft, Hyland, OnBase, enterprise content management, ECM, insurance document management, workflow automation, content services, business process management, BPM, data capture, imaging software, records management, Interactive Intelligence, insurance technology, insurtech, policy administration integration, claims management software, document lifecycle management, content-enabled solutions