ProspX, Inc., an Austin, TX-based developer of an on-demand search and sales collaboration platform built for the commercial insurance industry to streamline communications, improve productivity, and increase revenue, has completed an $8m Series B funding round.
The round was led by existing investor Adams Capital Management, with participation from HPI Real Estate Services and Investments.
This brings the total amount raised by the company to $14.5m.
As stated by president and CEO Todd Young, ProspX intends to use the funds to continue developing its solutions.
The company provides a Software-as-a-Service (SaaS) platform that combines enterprise search, social networking, and sales collaboration technology that is designed to connect commercial insurance agents, brokers, and carriers at the initial point of a business opportunity, as well as throughout the sales cycle.
The ProspX network include 4,000 brokers and more than 16,000 carrier underwriter specialists.