EverQuote, Inc., a Cambridge, MA-based online insurance marketplace, raised an additional $13m in Series B funding.
SecondAlpha and Link Ventures joined Stratim Capital, Savano Capital Partners, Oceanic Partners, T Capital Partners, which participated in the first tranche of the round of $23M announced in October 2016. In conjunction with the funding, a big data and machine learning expert and a Senior Partner at Link Ventures, joined EverQuote’s Board of Directors.
The company intends to use the funds to accelerate the growth of its marketplace.
Founded in 2011 and led by CEO Seth Birnbaum, EverQuote operates an online data & technology insurance marketplace that connects drivers with agents and carriers. The platform applies a scientific, data-driven approach to allow consumers to find the best price and coverage for their individual insurance needs while driving down costs for insurance providers.
The company, which increased its workforce to over 200 employees since the close of the funding, opened a second office in Woburn, MA and plans to hire another eighty employees by 2018 and expand its presence in home and life insurance.