Insurify, a US-based insurance comparison platform, has raised $100 million in a Series B funding round headed by private equity company Motive Partners.
Insurify Mlbased 100M Series Partnersann Azevedotechcrunch
Current investors include MassMutual Ventures, Nationwide, Hearst Ventures, Moneta VC, and Viola FinTech in addition to Motive Partners.
Viola Growth and Fort Ross Ventures, two new investors, also took part.
Insurance is a $2 trillion sector in the United States, and Insurify is introducing cutting-edge digital distribution technologies to the market, according to James O’Neill, founding partner of Motive Partners.
“Insurify is already expanding at a breakneck pace, and the new funding will enable the company to accelerate its investment in enhancing their present services and expanding their reach to additional insurance products.”
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With this new Injection, the Company’s total Funding to date is now $128m.
With this new funding, Insurify can accelerate its expansion plans and further develop its product offering.
Plans are underway to increase its embedded insurance opportunities and direct quotation linkages across all insurance verticals, hence enhancing product functionality.
It hopes to Increase both brand Recognition and Recruitment Efforts.
They started their business in 2013 and have their headquarters in Cambridge. Insurify is an all-in-one insurance rate comparison service.
The platform provides users with real-time integrations and AI-based recommendations to help them compare insurance rates from both national and regional providers.
“Our objective is to improve the trust between the consumer and the agent by establishing the smartest, most dependable virtual insurance agent in the business,” stated Snejina Zacharia, CEO and co-founder of Insurify.
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“We aim to give our consumers the tools they need to save money and feel secure in their insurance choices,” the company’s founder said. To provide its consumers with more options, American insurance giant Nationwide teamed with Insurify in June of this year.
Insurify opened its first foreign office in May of this year, in Sofia, Bulgaria.
