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FirstBest Systems Gets First Round Of Financing

Wednesday, November 14, 2007 5:30:00 AM PDT | VentureDeal Staff

LEXINGTON, MA -- Software company FirstBest Systems, Inc. said that it has closed its first round of institutional venture capital financing, receiving $7 million.

FirstBest has created software that helps commercial insurance carriers make better underwriting decisions.  The company says that since its system does a more precise job of estimating losses, carriers can gauge risk better, increasing profitability.

Investors were lead by IDG Ventures Boston, and included Next Stage Capital and Brookstone Partners.

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