What is Insurify?
Founded in 2013 and headquartered in Cambridge, Massachusetts, Insurify operates as an innovative insurance comparison shopping website. Beyond its core comparison engine, Insurify also powers Evia, a service that enables users to search for car insurance by simply texting a photo of their license plate. This dual approach allows Insurify to cater to a broad spectrum of consumer needs within the insurance market, leveraging technology to simplify and expedite the insurance purchasing process.
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 MassMutual Ventures, MTECH Capital, VIOLA FinTech, and Nationwide Ventures
Series B (2021): $100M backed by MassMutual Ventures, Motive Partners, and Viola Fintech
Key Investors in Insurify
MassMutual Ventures
MassMutual Ventures is a venture capital investment firm that primarily invests in cybersecurity, healthtech, and enterprise SaaS. Established in 2014, it is based in Boston, Massachusetts, and focuses on strategic investments in innovative technology companies.
Nationwide Ventures
Nationwide Ventures is the investment arm of Nationwide, a Fortune 100 diversified insurance and financial services organization. It focuses on strategic investments within the insurance and financial technology sectors.
Motive Partners
Motive Partners is a private investment firm exclusively focused on financial technology and technology-enabled business services. They invest across early-stage ventures, growth equity, and buyouts in North America and Europe, with a strong emphasis on the insurance sector.
What's next for Insurify?
The substantial enterprise-level funding and recent strategic investment signal Insurify's readiness for accelerated growth. With a focus on enhancing its technology platform and expanding its service offerings, the company is poised to further disrupt the traditional insurance landscape. Future developments will likely involve deepening its market penetration, exploring new insurance verticals, and potentially integrating advanced AI capabilities to personalize insurance solutions for consumers. The backing from prominent investors suggests a strong confidence in Insurify's business model and its potential for significant returns.
See full Insurify company page
