Insurify Closes $4.6M Funding Round

insurifyInsurify, a Cambridge, MA-based virtual insurance agent for car insurance shopping, closed a $4.6m funding round.

The round wad led by MassMutual Ventures, Nationwide Ventures and its existing investors.

The company, which has raised a total funding of $6.6m, intends to use the funds to accelerate its growth.

Led by Snejina Zacharia, founder and CEO, Insurify provides a patent-pending virtual agent, powered by artificial intelligence and natural language processing, which enables drivers to compare insurance quotes by messaging. Since the company’s launch in January 2016, the agent has been used by more than 1.5 million consumers.

A MIT spin-off, Insurify has also launched a U.S. car insurance comparison service on Facebook Messenger that provides car insurance quotes, advice and recommendations through the social network. Facebook users may upload a picture of their license plates, answer a few questions that an insurance agent would ask, and compare multiple quotes in 2 minutes. Consumers may subscribe to rate alerts, which monitor insurance prices and notify them if there is a more competitive rate.



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