San Francisco, CA – July 11, 2017 — Serent Capital, a San Francisco-based private equity firm focused on investing in fast-growing software and services businesses, announced that its portfolio company Next Gear Solutions has acquired MICA Software, the leading provider of claim mitigation workflow software to the restoration industry. MICA’s solution enables contractors and carriers to optimize job management from order dispatch to claim audit and payment. The platform eliminates paperwork, automates job scoping, and reduces claim cycle time from submission to remediation to payment.
The acquisition combines MICA’s leading mitigation software with the growing Next Gear product suite, continuing Next Gear’s commitment to provide the best job management solutions to the restoration industry. “With the combination of our technologies, our goal is to transform the claims management process and simplify the complex workflow for all stakeholders.” said Raj Goswami, MICA’s CEO and Next Gear’s new Vice President of Strategic Solutions. “Our mission has always been to provide the best solutions to the restoration market. Adding MICA to the Next Gear product suite helps us deliver on that promise and provide more value to our customers,” said Garret Gray, CEO of Next Gear Solutions.
Stewart Lynn, Principal at Serent, added, “We believe that the addition of MICA will be transformational for Next Gear’s offering as the company expands its leadership position in the restoration software industry. Next Gear’s 3,000+ customers now have another valuable adjacent software option to add to Next Gear’s system-of-record workflow software.”
This is Next Gear’s third acquisition in the past twelve months. Next Gear acquired ClientRunner in July 2016 and Luxor CRM in December 2016.
About Next Gear
Next Gear Solutions, based in Oxford, MS, was formed in 2008 to address the lack of job and workflow management software solutions in the restoration industry and launched their first software, DASH, in 2009. Next Gear’s software suite has grown to include franchise and insurance solutions, as well as options for home and business owners with losses. Next Gear is passionate about their proven solutions for the restoration industry, their people. and their culture. For more information on Next Gear, visit www.nextgearsolutions.com.
About MICA Software
In 2010, MICA was introduced to improve how moisture mitigation claims were managed and tracked. Recognized as the leading mitigation management solution, the MICA technology has been adopted by carriers, managed repair networks, franchisors, and restoration contractors across the nation.
About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers' needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent helps growing businesses thrive. For more information on Serent Capital, visit www.serentcapital.com.