Majesco, a global leader of cloud insurance platform software for insurance business transformation, announced its intensified commitment to innovation and investment in cutting-edge insurance technology solutions that address the challenges and opportunities of dynamic insurance landscape. In an industry where change is constant, Majesco remains dedicated to empowering its customers with advanced technology solutions that empower operational and strategic change to drive growth, optimization, and innovation that redefine industry standards.
“2023 was an incredible year for Majesco, and I’m so proud and grateful for the new ideas, hard work, and dedication our employee’s brought day in and day out,” says Adam Elster, CEO at Majesco. “Through strategic investments in research and development and our solutions, we’ve remained at the forefront of technology ensuring our customers have the tools they need to navigate the demands, shifts and complexities of the insurance industry. Our investments not only future -proof our clients, but also contribute to the overall resilience and adaptability of the insurance industry, preparing them for what is next.”
Majesco takes a proactive approach by anticipating industry and market shifts and developing solutions that empower insurers to embrace change, transform their business, and create speed to market for new business models, products and channels to meet the growing demands and needs of their customers and distributors. Majesco’s unwavering commitment to continuous innovation is a testament to its understanding of the crucial role technology plays in addressing today’s business demands while positioning for the future to ensure sustainable profitable growth.
“While the overall market economy challenges persisted in 2023, challenging many software companies to grow, invest and be profitable, Majesco has continued on a tear of amazing innovation and exceptional growth in supporting their customers on their transformation journey,” says A.J. Rohde, Senior Partner at Thoma Bravo. “The continued success they’ve achieved over the last three years is a result of the investments made into the products, partners, employees, and operations, providing an amazing foundation and platform for continued momentum, growth and success. Majesco is recognized across the industry for their vision, innovation, execution and fortitude, unmatched by others in the industry.”
Majesco’s continuous positive financial results have allowed them to strategically invest in their people, customers, partners and products; fostering a cycle of growth, innovation, and mutual success.
Financial highlights:
- A Rule of 40+ SaaS Company with now over $300+M in total revenue
- Tremendous 2023 revenue growth including
- 12% overall company growth
- 15% overall product growth
- 16% subscription growth
- 14% EBITDA growth
- Over 110% customer net retention
The organization continues to work with industry leaders, partnering with them to navigate the ever-evolving landscape with unmatched commitment and support.
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