Likewize, the global leader in tech protection and support, has announced a major milestone in its growth journey, with investment firm Genstar Capital increasing its stake to become the majority shareholder. This significant development, which comes just 19 months after Genstar’s initial investment in March 2023, solidifies the company’s position as a dominant player in the tech protection industry and marks a key step towards its ambitious plans for further innovation and expansion.
Headquartered in Dallas, Texas, Likewize has rapidly evolved from a regional player into a global tech services giant, offering end-to-end solutions for handling over 250 million tech-related issues annually. These services span warranties, repairs, device upgrades, and premium technical support, making Likewize an indispensable partner for major telecommunications providers, retailers, and financial institutions worldwide. The company’s trusted platform and innovative approach have ensured its place at the forefront of the rapidly growing tech protection sector.
What the Investment Means for Likewize’s Future
The new agreement will see Genstar Capital, already a key investor in Likewize, assuming a majority position, with Brightstar Capital Partners and Likewize’s management retaining minority stakes. This shift highlights the growing confidence investors have in Likewize’s vision and potential to further revolutionise the tech protection industry.
Rod Millar, CEO of Likewize, expressed enthusiasm about the deal, stating: “This increased investment is a testament to the remarkable progress we’ve made and the significant potential that lies ahead. Genstar’s commitment will allow us to continue to innovate, pushing the boundaries of what’s possible in tech support, while expanding our market presence and offering new, cutting-edge solutions to our customers.”
He added, “We’ve already grown our core business by over 30% since Genstar’s initial investment, and this deeper partnership will empower us to accelerate our efforts, particularly in areas like AI-driven claims handling and premium tech support.”
Likewize’s Growth and Global Expansion
Since its last major investment round, Likewize has continued to build momentum, securing major partnerships with top telecommunications carriers, retailers, and financial institutions. In the last 12 months alone, the company has strengthened its footprint across Europe, enhancing both its operational capabilities and its competitive positioning in key global markets.
Likewize’s business model is based on solving some of the most common issues faced by tech users worldwide—whether it be a broken device, lost phone, or technical malfunction. By offering comprehensive protection plans and innovative support services, the company is trusted by major brands like Apple, Samsung, and Google to deliver exceptional customer experiences at scale.
One of Likewize’s key strengths lies in its ability to handle massive volumes of tech issues—reaching more than 250 million cases per year—while ensuring a high level of customer satisfaction. This impressive track record makes it a leader in the tech support industry, a position it intends to maintain with the help of Genstar’s new majority investment.
Genstar’s Growing Influence and Commitment to Likewize
Genstar Capital, a private equity firm with a portfolio of high-quality companies across financial services, software, industrials, and healthcare, has been a key driver of Likewize’s growth. With approximately $49 billion in assets under management, Genstar has a proven track record of transforming businesses into industry leaders. Their increased stake in Likewize signals a strong belief in the company’s future and its ability to deliver exceptional value in the tech protection space.
Ryan Clark, President and Managing Partner at Genstar, praised the company’s leadership and achievements to date: “The growth we’ve seen in just under two years has been nothing short of remarkable. With this enhanced investment, we are fully committed to helping Likewize continue its impressive trajectory. The company is at a pivotal moment in its evolution, and we believe the best is yet to come.”
Clark went on to highlight Likewize’s potential to capitalise on emerging trends in tech protection, particularly in areas like artificial intelligence and next-generation customer support platforms. “We’re excited to partner with Likewize as they drive innovation and expand their footprint globally,” he said.
Likewize’s Strategy for Continued Innovation
The expanded investment is set to power Likewize’s next phase of innovation, with a strong focus on enhancing its tech capabilities and customer support infrastructure. The company plans to further develop its AI-driven claims processing system, streamlining operations and improving efficiency. This move is expected to significantly enhance the customer experience, enabling quicker resolution times and more accurate service.
Additionally, Likewize is looking to strengthen its premium tech support services, offering tailored solutions to help users maximise the lifespan of their devices and troubleshoot more complex technical issues. These initiatives are in line with the company’s long-term goal of becoming the go-to solution for tech protection and support services worldwide.
Brightstar Capital Partners Remains Committed
While Genstar’s increased investment makes them the majority stakeholder, Brightstar Capital Partners, another private equity firm, continues to hold a minority stake in Likewize and will remain actively involved in guiding the company’s strategy. Andrew Weinberg, Founder and CEO of Brightstar, expressed pride in Likewize’s journey so far: “Under our ownership, Likewize has become a global leader in tech support. We are proud of the company’s growth and its ability to meet the evolving needs of today’s tech-savvy consumers.”
Weinberg added, “We look forward to working alongside Genstar and Likewize’s management team as they continue to innovate and expand their market leadership.”
A Bright Future for Tech Support
With this latest round of investment, Likewize is poised to strengthen its market position and extend its global reach. As tech devices continue to play an ever-increasing role in our daily lives, the demand for reliable tech protection and support services is only set to rise. Likewize’s proven ability to scale, coupled with its innovative approach, positions it to capitalise on this growing demand.
The company’s ongoing expansion across Europe and into new markets, as well as its focus on innovation, suggests that Likewize is well on its way to becoming a global leader not only in tech protection but also in the broader customer service and support industry. The future looks bright for this tech giant, as it continues to push the boundaries of innovation in an increasingly digital world.
