It was not made public how much money was raised in this funding round. With this investment, NexPhase hopes to help ISI develop in its present markets and go into new ones. It also hopes to improve its product offerings, especially with regard to integrations, speed of deployment, and analytics for both new and current clients.

ISI, a prominent supplier of policy administration systems for property and casualty insurance companies in the United States, Canada, and worldwide, was founded in 1997 and has its headquarters located in Toronto, Canada. Insurance carriers may handle all aspect of the policy lifecycle, including administration, claims, invoicing, accounting, and reinsurance, with the help of ISI's flagship product, ISI Enterprise.

The additional funds from NexPhase will be utilized to advance analytical capabilities, expedite implementation procedures, strengthen product integrations, and maintain ISI's current development trajectory. Additionally, by making this investment, ISI will be able to expand into nearby areas and continue to enhance its products.

Joel Killion, a partner at NexPhase, stated, "We are honored to collaborate with ISI, whose vital software solutions and first-rate customer support have established the Company as a top choice for clients in the property and liability insurance sector.

"ISI is well-positioned for ongoing expansion with a highly adaptable and flexible platform and strong industry ties already in place. We're excited to collaborate with Casey and the rest of the seasoned management group to build on ISI's history of offering a cutting-edge platform and top-notch service at a large scale.