iPipeline, an Exton, Pennsylvania-based provider of on-demand marketing, selling and processing solutions for insurance carriers, distributors and producers, has received a significant investment from Technology Crossover Ventures (TCV).
The investment is intended to help the company to invest in customer support, product development, and the expansion of its sales and marketing resources. iPipeline also plans to acquire companies in the US and abroad.
In conjunction with the financing, TCV General Partner Robert Trudeau will join the company’s Board of Directors.
Led by CEO Tim Wallace, iPipeline provides an on-demand suite of sales distribution software to the insurance and financial services markets. Its channel solutions, accessed by a customer network of 120 carriers, 1,200 distributors, and 400,000 financial professionals and advisors, are designed to automate activities for CRM, forms distribution and processing, quotes and illustrations, in Good Order e-Applications, agency management, data services, policy delivery and related services.
iPipeline, which is also backed by NewSpring Capital and Volition Capital, has offices in Atlanta, Charlotte, Milwaukee, Salt Lake City, and Vancouver.