Principal Financial Group

Principal Financial Group is a global investment management firm based in Des Moines, Iowa, founded in 1879. The company specializes in providing a wide array of financial products and services, including retirement savings, investment management, and insurance solutions tailored for businesses, individuals, and institutional clients. Principal Financial Group leverages local insights and global perspectives to identify investment opportunities and optimize results for its clients. As a registered investment adviser, the firm is committed to delivering comprehensive retirement services and asset management, supported by a skilled executive management team overseeing its operations.

Kara Hoogensen

TitleVice President - US Insurance Solutions: Group Benefits

11 past transactions

Ascensus - ESOP Business

Acquisition in 2024
Ascensus - ESOP Business is a qualified retirement plan with corporate finance and aligns employees’ retirement benefits with a plan sponsor’s business goals.

EvolutionIQ

Series B in 2023
EvolutionIQ is a company focused on transforming the insurance industry through its artificial intelligence-driven claims guidance platform. The platform is designed specifically for disability and general liability carriers, enhancing claims processing efficiency and productivity tracking. By reducing reserves and losses, cycle times, and adverse events, it helps lower operational expenses while boosting customer satisfaction. Additionally, EvolutionIQ's technology includes a fraud detection dashboard that identifies fraud trends, making the insurance process more fair, transparent, and affordable for clients. With its innovative approach, the company aims to significantly improve the overall claims management experience for insurance carriers.

Wells Fargo & Company - Institutional Retirement & Trust business

Acquisition in 2019
Wells Fargo & Company - Institutional Retirement & Trust business offer comprehensive services for 401(k) and other retirement plans that include a wide range of investment options, participant communication, and fiduciary support.

Limelight Health

Series C in 2019
Limelight Health, Inc. specializes in developing a cloud-based platform designed to streamline quoting, underwriting, and proposal processes within the employee benefits sector. The platform supports health insurance carriers, general agents, and brokers by automating manual workflows, enhancing sales efficiency, and facilitating plan distribution. It offers a suite of configurable microservices, including quoting, rating, proposal generation, renewals, and data analysis, which enable users to manage their operations more effectively. Additionally, the platform features an integrated API to ensure seamless connectivity with various industry systems, allowing for comprehensive integration across different functions. Founded in 2014 and headquartered in San Francisco, California, Limelight Health operates additional offices in Redding, California, and Des Moines, Iowa, and is a subsidiary of FINEOS Corporation Holdings plc.

RobustWealth

Acquisition in 2018
RobustWealth LLC, headquartered in Lambertville, New Jersey, is a rapidly growing financial technology company that operates as a subsidiary of Principal Innovations, Inc. The company provides a comprehensive digital wealth management platform designed to assist investment advisors and community banks in optimizing their practices. By integrating various modular features into a unified suite, RobustWealth enables advisors to efficiently manage client interactions and business automation needs. With additional offices in Denver, Colorado, and Woodside, California, RobustWealth is committed to delivering innovative investment services and technology solutions to enhance the operations of its clients.

Cuprum AFP

Acquisition in 2013
Cuprum AFP with more than 34 years in the pension system, where we are renowned for delivering service and consulting excellence.

Palisade Systems

Venture Round in 2009
Palisade Systems, Inc. specializes in enterprise content security and data protection solutions, offering a range of products designed to safeguard sensitive information and manage network traffic. Its key offerings include PacketSure, which protects private data; PacketGuard, which secures devices from unauthorized access; PacketDecoy, which intercepts and gathers intelligence on potential intruders; and ScreenDoor, which manages and restricts internet access. These solutions help protect intellectual property and client information, enforce access controls, and ensure compliance with privacy regulations. Palisade serves a diverse clientele, including healthcare, financial services, insurance sectors, and educational institutions across North America and Europe. Founded in 1996 in Ames, Iowa, the company is now headquartered in Des Moines, Iowa.

Palisade Systems

Series E in 2005
Palisade Systems, Inc. specializes in enterprise content security and data protection solutions, offering a range of products designed to safeguard sensitive information and manage network traffic. Its key offerings include PacketSure, which protects private data; PacketGuard, which secures devices from unauthorized access; PacketDecoy, which intercepts and gathers intelligence on potential intruders; and ScreenDoor, which manages and restricts internet access. These solutions help protect intellectual property and client information, enforce access controls, and ensure compliance with privacy regulations. Palisade serves a diverse clientele, including healthcare, financial services, insurance sectors, and educational institutions across North America and Europe. Founded in 1996 in Ames, Iowa, the company is now headquartered in Des Moines, Iowa.

LightEdge Solutions

Private Equity Round in 2004
LightEdge Solutions is a cloud computing and data center service provider based in Des Moines, Iowa. The company offers a comprehensive range of IT services, including premier colocation, private Infrastructure as a Service (IaaS), and cloud platforms. LightEdge specializes in disaster recovery and security services, designed to support complex hybrid IT deployments. Their solutions are backed by industry-leading global security and compliance standards, ensuring that clients receive the highest levels of security and flexibility for their mission-critical IT operations. The company's facilities are purpose-built and owned, showcasing integrated disaster recovery solutions and an array of premium cloud options that together form a robust Hybrid Cloud Solution Center model.

Duke Energy Renewables

Duke Energy Renewables generates electricity from renewable resources in the transition to cleaner energy.

Duke Energy Renewables

Duke Energy Renewables generates electricity from renewable resources in the transition to cleaner energy.
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