“Spex has built a valuable technology solution for the insurance industry, a market in need of major disruption. I believe the business is poised for rapid growth the next few years and I’m looking forward to supporting those efforts," said Chis Onan
Denver, CO (PRWEB) January 04, 2017
Spex--a digital property inspection and reporting platform--announced today the addition of Chris Onan to its board of directors as the business expands its team and operations for 2017. As a member of Spex’s board, Onan will provide valuable financial guidance and company-building expertise to the business. Founded after Hurricane Sandy, Spex has developed the leading property inspection platform for the insurance market. Its solution is used today by insurance adjusters, restoration and engineering firms, P&C carriers and other leading organizations seeking more efficient, accurate property documentation, data capture and reporting.
Onan brings over two decades of investing and operating experience to Spex, having served most recently as a founder and the Chief Financial Officer (CFO) of Galvanize. In his role with Galvanize, Onan was principally responsible for the financing of the business, which included raising over $70 mm in capital, culminating with a $45M Series B investment from ABS Capital. Prior to Galvanize, Onan has been investing in growing businesses for nearly 20 years. His investment and board participation includes a number of successful business exits including Auctionpay (acquired by Global Payments), Datalogix (acquired by Oracle for $1.2 billion) as well as a number of other Colorado early-stage businesses including Tendril, Wazee Digital and Active Junky (acquired by Purch).
Spex expanded meaningfully in 2016, as the insurance technology landscape takes flight. Insurance carriers and their service providers increasingly seek technologies and better solutions to meet growing customer demands and identify new operational efficiencies in claims and underwriting. Spex grew its customer base by over 1,000% in 2016 and supported major catastrophes including Fort McMurray and Hurricane Matthew. Onan joins a board that also includes two original members of the Eagleview Technologies business, Bob Hawk and Bob Grant.
Justin Douglas from Fullerton Investors became a Spex investor and board member recently as well. Douglas brings valuable investment and operations background to the business, including time spent in leadership roles at Corvis, a premier cleaning and janitorial franchisor based in Chicago.
“I’m excited by the opportunity to join the Spex board and work with such a hiqh quality team,” said Chris Onan. “Spex has built a valuable technology solution for the insurance industry, a market in need of major disruption. I believe the business is poised for rapid growth the next few years and I’m looking forward to supporting those efforts.”
Brett Goldberg, Spex CEO added, “Chris brings significant financial and operational expertise to our business. We’re very fortunate to have such a savvy, energetic executive and investor on our board as Spex continues to grow.”
For more information about Spex, visit spexreport.com.