Joins insurance agency management software developer Applied Systems
West Allis-based Dynamis Software Corp. has been acquired by University Park, Illinois-based Applied Systems for an undisclosed amount. The transaction closed Oct. 12.
Nunemaker
Dynamis, which has 21 employees, makes employee benefits software used by more than 150 U.S. insurance agencies. The company, established in 2012, has raised more than $3 million in equity investments with the help of Brookfield-based Golden Angels Investors. The most recent $1.3 million round last year was used to build out its Dynamic Plan Designer software, which allows insurance brokers to offer digital plan designs that can be changed while face-to-face with the customer, automating the plan design process.
“We were really pleased,” said Tim Keane, director of Golden Angels Investors, which had about 50 of its members invested in Dynamis.
This is Golden Angels’ sixth exit, including Dynamis co-founder and chief executive officer Andy Nunemaker’s previous Milwaukee-based startup EMSystems.
“Our portfolio has got a lot of good stuff in it. Many nice entrepreneurs. And we think that we’re repeating this,” Keane said.
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