Tech Investor Bets on iPipeline

iPipeline has announced a capital investment from Technology Crossover Ventures, a firm with a record of investing in companies including Facebook, Netflix, Groupon and Expedia.

Exton, Pa.-based iPipeline, which provides marketing, selling and processing solutions for insurance carriers, distributors and producers, isn't disclosing the amount of the investment but calls it "significant." Robert Trudeau, Technology Crossover Ventures general partner, will also join iPipeline's board of directors.

The additional capital from Palo Alto, Calif.-based Technology Crossover Ventures will allow iPipeline to continue to grow. "Our ability to aggressively invest in customer support, product development and the expansion of our sales and marketing resources will enable us to better support the needs and success of our customers," says Tim Wallace, iPipeline's CEO. "The acquisition of companies in the U.S. and abroad and organic growth remain key components of our growth strategy."