Insurance comparison site Insurify has closed $100 million in Series B funding led by Motive Partners, a specialist private equity firm focused on financial technology investments. The round included participation from existing investors Viola FinTech, MassMutual Ventures, Nationwide, Hearst Ventures, Moneta VC, as well as new investors Viola Growth and Fort Ross Ventures. To date, the company raised $128 million.
Founded in 2013, the Cambridge, MA-based company currently features auto, home, and life insurance on its site. Customers can instantly compare insurance quotes from both large and regional insurance companies through real-time integrations and AI-powered recommendations.
“Our mission is to strengthen the trust between the customer and the agent by building the smartest, most reliable virtual insurance agent in the industry. We want to empower our customers to make the best decisions about their insurance and be confident that they can get immediate savings through our product. 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.” – Snejina Zacharia, founder and CEO of Insurify.