The “significant investment” makes Genstar the majority investor in Likewize, while management and Brightstar Capital Partners will retain minority stakes.

Founded in 1997, Likewize partners with telecommunications companies, financial institutions, and retailers to offer comprehensive tech protection solutions to millions of customers worldwide. The company handles over 250 million device issues annually, including warranty claims, repairs, upgrades, and premium technical support.

With the increased investment from Genstar, Likewize will focus on expanding its offerings and accelerating the adoption of innovative solutions such as AI-driven claims handling and enhanced premium tech support.

Likewize currently works with major insurance providers like Zurich and AIG to offer device protection services.

Commenting on the news, Rod Millar, CEO of Likewiz, said: “Over the last five years, we’ve transformed into a global leader in tech protection and support. Genstar’s increased investment underscores their confidence in our vision and potential. With this deeper partnership, we can continue to push the boundaries of innovation and ensure our platform remains the industry leader. We are excited to expand our capabilities and feel well-positioned to capitalize on the vast market opportunities in the rapidly growing tech protection and support sectors.”

Ryan Clark, President and Managing Partner at Genstar, also said: “We are thrilled to expand our partnership with Rod and the entire Likewize team, as well as Brightstar, as we’ve witnessed firsthand the company’s exceptional growth over the first 19 months of Genstar’s investment.”

He added: “This enhanced commitment to Likewize comes at a pivotal moment, delivering the support and capital for Likewize to continue delivering exceptional customer value and achieve its full growth potential.”