Folsom-based One Inc., a provider of cloud software products for property and casualty insurers, said it has closed a $20 million round in investment funding.
The company said the money will help it develop its software as a service platform, add products and lines of business, and expand internationally.
One Inc. said the Series B funding was led by the international venture capital fund AXA Strategic Ventures, which has offices in San Francisco, New York, London and Paris.
The company said funding participation also included Boston-based MassMutual Ventures LLC and H&Q Asia Pacific, an international private equity firm with an office in Palo Alto.
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H&Q led a $16.7 million round of Series A investment funding for One Inc. in 2014.
One Inc.’s platform includes such services as policy administration, billing, rating, agency management, document management, payment processing and interactive voice response.
“The shift happening in the insurance industry is still in its early stages, and the opportunity to redefine how insurance companies approach technology and interact with their customers is tremendous,” One Inc. CEO and founder Christopher Ewing said in a statement.