Thursday, October 14, 2010

Torrent Technologies Gets Funding

Seattle-based Torrent Technologies, a developer of software used to streamline the policy and claims processing of flood insurance, said Wednesday afternoon that it has raised a new round of funding. Financial terms of the round were not disclosed. The round came from Century Capital Management, LLC., coming out of the Century Focused Fund II. Torrent said that the new capital will go towards growth, as well as to recapitalize early investors in the firm. Torrent's software is used by private insurance carriers participating in the National Flood Insurance Program (NFIP). Torrent was co-founded by Travis Pine and Theresa 'TJ' Johnston, both of whom the company said will continue to lead the firm. More information »