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New Yorkbased Policygenius Series 225m
Policygenius, a New York-based insurtech startup, recently announced the completion of its Series 225m. This new round of funding is the largest venture capital round for a fintech or insurtech company to date. The new capital will be used to accelerate the company’s growth, including expanding its product suite and enhancing its customer experience.
New Yorkbased Policygenius Series 225m is an online marketplace that helps consumers shop for life, disability and long-term care insurance. Founded in 2014, the company has grown rapidly, now providing more than 18 million quotes to customers in all 50 states. Policygenius is focused on making insurance more transparent and accessible for consumers by providing a streamlined shopping experience and excellent customer service.
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The Series 225m round was led by venture capital firm Tiger Global Management, with participation from existing investors, including Founders Fund, NEA and MassMutual Ventures. The new funding brings the company’s total raised to over $350 million.
With the new funds, New Yorkbased Policygenius Series 225m plans to expand its product suite to include additional life, disability and long-term care insurance products. The company will also use the new capital to enhance its customer experience by providing more personalized advice and education to help consumers make informed decisions.
Policygenius CEO and co-founder Francois de Lame said, “We’re thrilled to have the support of Tiger Global Management and our other investors as we continue to build the world’s leading digital insurance marketplace. Our goal is to make insurance shopping easy and transparent, and this new capital will enable us to continue to invest in our products and customer experience.”
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The Series 225m round is the latest in a series of milestones for Policygenius. In 2018, the company launched its first mobile app, and in 2019, it became the first insurtech company to reach $1 billion in annualized premiums.
Conclusion
The successful completion of New Yorkbased Policygenius Series 225m round is a testament to the company’s success in making insurance more accessible and transparent for consumers. The new capital will be used to expand the company’s product suite and enhance its customer experience, helping them to continue their mission of making insurance easier to shop for.
FAQs
Q: What is Policygenius?
A: Policygenius is an online marketplace that helps consumers shop for life, disability and long-term care insurance. They provide more than 18 million quotes to customers in all 50 states.
Q: What will Policygenius use the Series 225m funds for?
A: Policygenius will use the new capital to expand its product suite, as well as to enhance its customer experience by providing more personalized advice and education.
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