The venture-backed insurance world is more than the Lemonades and MetroMiles of the world. There’s more room in the industry for startups to shake things up. One such company, Cambridge-based Insurify, is out today with a new venture round that greatly expands its capital base.
The startup, which had accepted just $6.6 million over two rounds before its latest investment, has raised $23 million in a Series A led by MTECH Capital and VIOLA FinTech. Prior investors MassMutual Ventures and Nationwide took part in the new investment.
TechCrunch hasn’t caught up with the company since our own Sarah Buhr covered its first $2 million deal back in early 2016. As you’d expect, a lot has changed in the last four years.
Zacharia, formerly of Gartner, came up with the idea for Insurify after she had an accident years ago. Following an unsatisfying experience working with the insurance industry after the fact, she discovered that consumers “have very, very little idea of how much coverage they need,” and that insurance providers …read more