Policygenius, a cutting-edge tech platform headquartered in New York, has successfully secured $125 million in Series E funding, propelling its total funding to an impressive $250 million milestone. This transformative round was led by KKR, Norwest Venture Partners, and Revolution Ventures, joined by a consortium of financial powerhouses, including Brighthouse Financial, Global Atlantic Financial Group, iA Financial Group, Lincoln Financial, Pacific Life, AXA Venture Partners, and MassMutual Ventures.
A Symphony of Support: Notable Participants in the Funding Round
The resounding success of this funding endeavor saw the active participation of industry titans such as Brighthouse Financial, Global Atlantic Financial Group, iA Financial Group, Lincoln Financial, Pacific Life, AXA Venture Partners, and MassMutual Ventures. Notably, ORIX Corporation USA’s Growth Capital group played a key role by providing a new credit facility, while Policygenius strategically refinanced its existing senior loan facility with JPMorgan Chase.
Financial Prowess Unleashed: Policygenius’ Strategic Utilization of Funds
Policygenius has outlined strategic plans for deploying the substantial capital from the Series E funding. The primary focus is on further investment in the growth of its core businesses, including life, disability, home, and auto insurance segments. This infusion of capital will enable the company to maintain its position as an industry trailblazer in providing comprehensive insurance solutions.
The Visionaries Behind Policygenius: A Commitment to Innovation
Founded by Jennifer Fitzgerald and Francois de Lame, Policygenius has redefined insurance distribution through its tech-enabled platform. The platform offers customers a seamless experience, allowing them to compare offerings from top insurance carriers, receive unbiased expert advice, purchase policies, and manage their insurance portfolio—all in one integrated interface.
A Tech Marvel: Policygenius’ Advanced Integration and Proprietary Technology
Since its inception in 2014, Policygenius has forged integrations with insurance carriers and developed proprietary technology for quoting, underwriting, and fulfillment. The culmination of these efforts is the recently launched Policygenius Pro offering, extending the company’s life insurance platform, including software, an expansive carrier shelf, and operational capabilities, to B2B distribution partners.
Navigating the Future: Policygenius’ Forward-Thinking Approach
As Policygenius continues to navigate the dynamic landscape of insurance, the Series E funding positions the company at the forefront of innovation. The infusion of capital not only strengthens its financial foundation but also reaffirms its commitment to revolutionizing the insurance industry. With a focus on technology, customer-centric solutions, and strategic growth, Policygenius remains a beacon of transformation in the ever-evolving world of insurance.