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- Majesco
Majesco Acquisition, Valuation, Funding & Investors
Majesco was acquired by Thoma Bravo for $729M in July 2020, a 5.0x multiple on $146M of revenue.
Majesco acquisition price
$729M
Acquired by Thoma Bravo · Jul 2020
Majesco revenue at acquisition
$146M
Last twelve months · Jul 2020
Majesco revenue multiple at acquisition
5.0x
EV/Revenue · Jul 2020
Majesco EBITDA multiple at acquisition
36.5x
EV/EBITDA · Jul 2020
About Majesco
Majesco is a Morristown, New Jersey-headquartered provider of SaaS insurance platforms covering policy administration, claims, billing, underwriting, and analytics. Its P&C and L&A solutions support digital distribution, AI-driven modeling, and cloud deployment for carriers in North America and globally, powering transformations at insurers like Mapfre and Liberty Mutual.
Founded
1982
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Revenue
$146M (Jul 2020)
Valuation
$729M (acquired Jul 2020)
Majesco Acquisition
Majesco was acquired by Thoma Bravo for $729M on 20 July 2020.
The acquisition price implies a 5.0x revenue and 36.5x EBITDA multiple on $146M of revenue.
Majesco signed a definitive agreement on July 20, 2020 to be acquired by Thoma Bravo in a transaction valuing the cloud insurance software company at 594 million dollars. Shareholders of record were to receive 13.10 dollars in cash per share, a premium of about 74 percent over the average closing price in the 30 trading days to July 17, 2020. After closing, Majesco would operate as a privately held company. The merger required the approval of Majesco shareholders and of the shareholders of its parent company, Majesco Limited. Majesco, based in Morristown, New Jersey and listed on Nasdaq under the ticker MJCO, provides cloud insurance software for property and casualty and life and annuity insurers. CVC Capital Partners acquired it from Thoma Bravo in 2025.
| Acquirer | Date | Type | Price | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|
| 20 Jul 2020 | PE buyout | $729M | 5.0x | 36.5x |
Sources: thomabravo.com, thomabravo.com
Majesco Funding History
Majesco has raised 1 funding round.
| Date | Stage | Investors | Deal Summary |
|---|---|---|---|
| Nov 2025 | Strategic investment | CVC Capital Partners | CVC Capital Partners funds made a minority investment in Majesco, the Thoma Bravo-owned cloud and AI-native insurance software provider, announced on November 21, 2025 alongside Majesco's agreement to acquire Vitech Systems Group, a CVC portfolio company. The investment was completed with the Vitech acquisition in January 2026. The additional capital is intended to support the growth and innovation of the combined company's AI-native product portfolio. Terms were not disclosed. Thoma Bravo remained Majesco's controlling owner, so the transaction was not a buyout. Vitech provides cloud-native pension and benefits administration software for the Group and Benefits and Retirement and Pension segments, and its addition expands Majesco beyond property and casualty and life, annuity and health insurance software into these markets. |
Who has invested in Majesco?
1 investor has backed Majesco across its funding rounds, including CVC Capital Partners.
Majesco Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 Majesco investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Majesco
Majesco has acquired 8 companies to date.
Last acquisition by Majesco was on November 21st 2025. Majesco acquired Vitech Systems Group for undisclosed valuation.
Latest Acquisitions by Majesco
| Description | Vitech Systems Group is a New York-headquartered provider of V3locity administration software for life insurance, annuities, and pensions. It processes policies for MetLife and Prudential with modules for group benefits and private equity funds. The cloud-based platform handles claims adjudication and regulatory reporting for over 50 carriers in the United States. | Decision Research Corporation is a software provider based in Omaha, Nebraska, specializing in policy administration systems for the property and casualty insurance sector since 1971. The company offers GameChanger, a web-based platform covering quoting, rating, billing, policy issuance, endorsements, and claims processing for insurers and managing general agents. Deployable on cloud or on-premise, GameChanger integrates with third-party systems for seamless operations. Decision Research Corporation serves mid-sized carriers and MGAs across the United States, drawing on decades of insurance workflow expertise to deliver modular components or full enterprise solutions. | Global IQX is a Toronto-headquartered SaaS provider of property and casualty insurance software deployed at 50 carriers across North America and Europe. Established in 1999, its web platform handles quoting, rating, and policy issuance for commercial lines, supporting ACORD standards and multi-carrier integrations. Clients include Wawanesa and Aviva, processing billions in premiums annually. | Utilant is an enterprise software provider delivering SaaS products for survey management in the insurance sector, including Loss Control and Premium Audit solutions. Its InsurTech suite, featuring the Loss Control 360 platform, analyzes vast survey data repositories to generate predictive risk insights for property and casualty carriers and risk engineering firms. | |
| HQ Country | |||||
| HQ City | New York City, NY | Honolulu, HI | New York City, NY | Buffalo, NY | |
| Deal Date | 21 Nov 2025 | 3 Jan 2024 | 3 Oct 2022 | 20 May 2021 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Majesco acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Investments by Majesco
Majesco has invested in 1 company to date.
Latest investment by Majesco was on October 31st 2021. Majesco invested in Integrow Asset Management in their $3M Strategic investment round.
Latest Investments by Majesco
| Description | Integrow Asset Management is a Chicago-headquartered firm specializing in real estate asset management, overseeing investment strategies for multifamily, office, and retail properties nationwide. |
| HQ Country | |
| HQ City | Mumbai |
| Deal Date | 31 Oct 2021 |
| Round | Strategic investment |
| Raised | $3M |
| Investors | - |
| Valuation | $7M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Majesco investments and their VC round multiples. Start Free Trial | |
Majesco Competitors
Majesco competitors include listed companies like Phreesia and B-Soft Co., and private ones like Pearl Health, HealthVerity, Overjet and BrightInsight.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $733M | - | ||
| Private | - | - | $721M | - | ||
| Private | - | - | $712M | - | ||
| Private | - | - | $750M | - | ||
| Publicly listed | $481M | $27M | $783M | 1.5x | ||
| Publicly listed | $158M | ($37M) | $802M | 5.1x |
Majesco Public Comps
Majesco is no longer listed, but its public comps include Donegal Group, REVO Insurance, AgeSA, Phreesia, Sagicor, NICO Holdings, FBD Holdings, Root Inc., Hangzhou Pinming Software and Tiptree.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $978M | $102M | 0.8x | 0.8x | 7.3x | - | |||
| $466M | $35M | 1.6x | 1.5x | 21.8x | - | |||
| $911M | $165M | 0.8x | - | 4.6x | - | |||
| $481M | $27M | 1.6x | 1.5x | 28.5x | 6.4x | |||
| $2.3B | $420M | 0.3x | 0.3x | 1.9x | - | |||
| $870M | $131M | 0.9x | - | 6.1x | - | |||
| $519M | $97M | 1.5x | 1.4x | 8.2x | - | |||
| $1.5B | $74M | 0.4x | 0.4x | 9.0x | 4.4x | |||
This data is available for Pro users. Sign up to see all Majesco competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Majesco
| When was Majesco founded? | Majesco was founded in 1982. |
| Where is Majesco headquartered? | Majesco is headquartered in Morristown, NJ, United States. |
| Is Majesco publicly listed? | No, Majesco was acquired by Thoma Bravo in July 2020. |
| Who acquired Majesco? | Majesco was acquired by Thoma Bravo in July 2020. |
| How much was Majesco acquired for? | Majesco was acquired for $729M in July 2020, a 5.0x revenue multiple. |
| What was Majesco's last funding round? | Majesco's last funding round was a strategic investment round in November 2025. |
| Who are Majesco's investors? | Majesco's investors include CVC Capital Partners. |
| Which companies are comparable to Majesco? | Companies comparable to Majesco include Pearl Health, HealthVerity, Overjet, BrightInsight, Phreesia and B-Soft Co.. |
| How many companies has Majesco acquired? | Majesco has acquired 8 companies, including Vitech Systems Group, Decision Research Corporation, Global IQX, Utilant and ClaimVantage. |
| What was the largest acquisition by Majesco? | The $29M acquisition of Cover-All Technologies in June 2015 is the largest acquisition Majesco has made to date. |
| How many companies has Majesco invested in? | Majesco has invested in 1 company, including Integrow Asset Management. |
| What was Majesco's last investment? | In October 2021, Majesco invested in Integrow Asset Management's $3M strategic investment round. |
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