Insurify is America’s leading virtual insurance agent and comparison platform. The insurtech issued a public statement today detailing the successful close of its Series B funding round.
The round was led by Motive Partners, a specialist private equity firm that prioritizes fintech investments.
Some of the other firms who participated in the effort include Hearst Ventures, MassMutual Ventures, Moneta VC, Nationwide, Viola FinTech – all existing backers. New investors include Fort Ross Ventures and investors Viola Growth.
Insurify has been described by analysis as experiencing a fast-paced growth with a CAGR of 151% over the last three years.
The firm’s total funding raised so far stands at US$128 million. It also increased its new and recurring revenue by 6x since completing its Series A funding in Q4 of 2019.
With the latest capital injection, Insurify will speed up growth by implementing various growth-oriented strategies. This includes product development, hiring more hands, exploring new and innovative solutions, improving functionality and refortifying brand awareness, and so on.
“We’re very excited to partner with our investors to continue building a trusted brand loved by millions of customers and achieve our growth targets. The industry is accelerating its shift towards digital insurance brokerage, and Insurify is leading the charge,” said Snejina Zacharia, founder, and CEO of Insurify.
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.