iPipeline, a provider of an on-demand software that supports marketing, selling, and processing solutions for insurance carriers, distributors and producers, completed a $15m equity financing.
The round was led by NewSpring Capital and Fidelity Ventures.
The funds will be used to implement the company’s strategy to acquire businesses that further extend the iPipeline’s value.
On November 3rd, the company announced the acquisition of AgencyWorks, an Internet-based technology provider of agency management systems for agencies, carriers, and brokers in the life insurance industry.
iPipeline provides the process automation and integration needed to make a sale by aggregating over 125 carriers, 850 distributors, and 400,000 agents in its single web-based environment, the iPipeline Network.
The company is headquartered in Exton, PA with offices in Atlanta GA, Los Angeles CA, Charlotte NC, and Milwaukee WI.