Extended warranty service SquareTrade announced today it has secured a $238 million growth equity investment lead by Bain Capital.
Terms of the private financial transaction were not revealed.
The company, which sells warranties for consumer electronics and appliances directly and via more than 30 retailers and marketplaces, said its sales tripled in 2011 compared with 2010. It also expects to record "triple-digit" revenue growth in 2012, although the privately held company did not provide specific financial details.
"SquareTrade has been profitable and growing rapidly for several years," CEO and co-founder Steve Abernethy said in a statement. &… Read more