Last updated on June 27th, 2019 at 12:05 pm
TechCanary, a fast-growing Milwaukee-based technology startup company, has been acquired by University Park, Illinois-based Applied Systems.
TechCanary, which was founded in 2013, is a developer of insurance agency automation software based on the Salesforce platform. Applied Systems sells agency management software for insurance agencies that provides insurance automation and data exchange among brokerages, insurers and clients.
Applied will continue to operate TechCanary’s current Milwaukee office, according to an announcement. Terms of the deal were not disclosed.
Under the acquisition, TechCanary’s insurance customer relationship management system will be integrated with Applied Epic, which will allow agencies, insurers and managing general agents to use the Salesforce platform to manage their sales and marketing activities to prospects and clients.
“As the demand for sales and marketing automation is increasing at a rapid pace, we recognized an opportunity with Applied for our customers to benefit from the broader, more global product portfolio as well as Applied’s technical resources and support services,” said Reid Holzworth, chief executive officer of TechCanary. “This acquisition provides our customers with access to new innovation and scale to further accelerate the growth of their businesses.”
Last year, TechCanary moved its company headquarters from Bayshore Town Center in Glendale to 1322 N. Eighth St., just north of Milwaukee’s Park East corridor. It had 60 employees as of mid-2018.
In late 2017, TechCanary acquired Atlanta-based Terminus Consulting Corp., a custom software development firm that specializes in small entrepreneurial projects and complex systems for major corporations.
TechCanary ranked No. 393 on last year’s Inc. 5000 list.
This is Applied Systems’ second recent acquisition of a Milwaukee area company. In October 2018, the company acquired Dynamis Software Corp., a West Allis-based company that makes employee benefits software.