“Our platform’s performance, particularly during these recent months, has shown the industry that SaaS can deliver new levels of value,” Duck Creek Chief Executive Officer Michael Jackowski said in the statement, referring to “software as a service” in which software is licensed on a subscription basis. “We see growing opportunity for Duck Creek as more insurers accelerate their adoption of SaaS solutions for their core systems.”

https://www.bloomberg.com/news/articles/2020-06-10/software-firm-duck-creek-raises-230-million-ahead-of-ipo?srnd=deals