Broker Buddha, a NYC-based insurtech startup that aims to simplify the commercial insurance application and renewal process, raised $4.5m in funding.
The round was led by Vertex Ventures.
The company intends to use the funds to expand its offering, grow the team and increase marketing efforts.
Led by CEO Jason Keck, Broker Buddha provides a platform that automates agency operations, turning paperwork into a digital process, benefitting both insurance agents and their clients. Through interactive smart forms, a web interface and an integrated eSignature capability, the platform creates an agency-branded, online experience for insurance clients.
The company’s online submission platform converts static PDF insurance applications into interactive online smart forms. New prospects can quickly complete applications online through the agency website, while returning clients can update forms pre-filled with the prior year’s info, and sign electronically online.
Broker Buddha is part of Interplay, a foundry and venture capital firm that builds, incubates, and invests in backed companies.