PolicyGenius, a NYC-based consumer insurance startup, closed a $30m Series C funding.
The round was led by Norwest Venture Partners with participation from existing investors Revolution Ventures, Karlin Ventures, Susa Ventures, AXA Strategic Ventures, Transamerica Ventures and MassMutual Ventures, and new investor Fika Ventures. In conjunction with the funding, Parker Barrile, Partner at Norwest Venture Partners will join the company’s board.
The company, which has secured $52m in venture capital funding since launching in 2014, plans to use the new capital to consolidate its position in insurance shopping and financial protection planning, to expand its individual product lines, hire across the organization and build out partnerships.
Led by Jennifer Fitzgerald, Co-Founder and CEO, PolicyGenius operates a financial protection platform with instant online quoting and smart digital advice tools. Its Insurance Checkup™ allows users to discover their coverage gaps and review solutions for their exact needs while the marketplace enables them to shop for health, life, long-term disability, renters and pet insurance.
In addition to the funding, the company is also announcing its partnership with LendingTree, an online lending exchange platform. LendingTree will be offering PolicyGenius’ life insurance platform to its clients.