Gabi Personal Insurance Agency, Inc., a San Francisco, CA-based provider of a free, online personal insurance shopper, raised $9.5M in Series A funding.
The round was led by Canvas Ventures, with participation from Correlation Ventures, Northwestern Mutual Future Ventures, Securian Ventures and prior investors A.Capital Ventures and Project A. In conjunction with the funding, Rebecca Lynn, General Partner at Canvas Ventures, will join Gabi’s board of directors.
The company plans to use the funds to accelerate its nationwide expansion in 2018.
Founded by Hanno Fichtner, Krzysztof Kujawa, Vincenz Klemm and Pawel Olszewski, Gabi is automating insurance shopping for auto, home, renters, umbrella and life.
Gabi connects to the current auto or home insurance account of the customer, compares prices, discovers the best offers, and presents opportunities to switch. The customer then manages all insurance products using the app. Gabi offers customers a service agent to speak with if desired, or they can interact only with the app. If customers choose to switch at any time, they are not required to fill out insurance forms, and they are not spammed with unwanted calls or emails.
The company – licensed throughout the US and works with the nation’s largest insurance companies including Nationwide, Travelers, and Safeco and new entrants such as American Family Insurance-backed Clearcover – began offering auto and home insurance in California in 2017. Today, Gabi-sourced insurance is available in California, Ohio, Texas, North Carolina, Pennsylvania and Arizona.
The company also has a technical team in Lodz, Poland.