What is Insurify?
Founded in 2013 and headquartered in Cambridge, Massachusetts, Insurify operates a sophisticated insurance comparison shopping website that simplifies the complex process of policy acquisition. The company distinguishes itself through its proprietary technology, including the Evia platform, which utilizes image recognition to allow users to search for car insurance by simply texting a photo of their license plate. This innovative approach to customer acquisition and policy comparison has positioned Insurify as a leader in the digital transformation of the insurance industry, effectively bridging the gap between traditional carriers and tech-savvy consumers seeking streamlined, transparent, and efficient insurance solutions.
How much funding has Insurify raised?
Insurify has raised a total of $131.7M across 5 funding rounds:
Private Equity
$2.1M
Other Financing Round
$2M
Private Equity
$4.6M
Series A
$23M
Series B
$100M
Private Equity (2015): $2.1M, investors not publicly disclosed
Other Financing Round (2016): $2M led by Rationalwave Capital Partners
Private Equity (2017): $4.6M supported by MassMutual Ventures
Series A (2020): $23M featuring MTECH Capital, MassMutual Ventures, Nationwide Ventures, and VIOLA FinTech
Series B (2021): $100M backed by Viola Fintech, MassMutual Ventures, and Motive Partners
Key Investors in Insurify
MassMutual Ventures
MassMutual Ventures is a venture capital investment firm. It primarily invests in cybersecurity, healthtech and enterprise SaaS. The company was established in 2014 and is based in Boston, Massachusetts.
Nationwide Ventures
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poors.
Motive Partners
Motive Partners is a private investment firm exclusively focused on financial technology and technology-enabled business services, investing across early-stage ventures, growth equity, and buyouts.
What's next for Insurify?
With the successful completion of this major enterprise-level funding round, Insurify is well-positioned to accelerate its market expansion and enhance its technological infrastructure. The strategic capital will likely be deployed to scale its product offerings, deepen its integration with major insurance carriers, and refine its AI-driven recommendation engines. As the insurtech market matures, Insurify's focus on user experience and data-driven policy matching will be pivotal in maintaining its competitive edge. The company is expected to leverage this financial momentum to solidify its footprint in the North American market, potentially exploring new insurance verticals and further optimizing its digital distribution channels to capture a larger share of the growing online insurance marketplace.
See full Insurify company page
