Spring Venture Group, a Kansas City, Missouri-based digital insurance platform in the senior healthcare market, received a strategic investment from Corsair Capital.
The amount of the deal was not disclosed. Founded in 1992 with offices in New York and London, Corsair is a private equity firm focused on the financial services industry. The company joins Five Elms Capital, a growth investor and Spring founding member, as a minority shareholder in the company.
The company will use the funds to accelerate expansion of its operations.
Led by Chris Giuliani, CEO, Spring is a digital direct-to-consumer sales and marketing company with product offerings focused on the senior market. Founded in 2010, the company specializes in distributing Medicare Supplement, Medicare Advantage, and related products via its digital presence and dedicated team of insurance advisors. Spring’s technology platform combines sophisticated marketing, lead generation, comparison shopping, sales execution, and post enrollment customer engagement.
The company employs over 600 professionals.
As part of the transaction, Corsair representatives will join Spring’s Board of Directors. The company’s existing management team will continue to manage day-to-day business operations.