Gabi, a San Francisco-based home and auto insurance company, raised $27m in Series B funding.
The round was led by Mubadala Capital with participation from Canvas Ventures, Northwestern Mutual Future Ventures, Correlation Ventures, Securian Ventures, A.Capital Ventures, Project A, CMFG Ventures, Burst Capital, and AngelList.
The company intends to use the funds to continue to expand its business reach.
Co-founded in 2016 by Hanno Fichtner, Krzysztof Kujawa, Vincenz Klemm, and Pawel Olszewski, Gabi provides a proprietary quoting flow platform that allows people to connect existing auto or home insurance account or upload a PDF of policy. It then digitally compares existing policies and coverages to quotes from its network of over 40 top insurance companies to find the best prices and coverage, all promised in less than two minutes.
The company currently partners with over 40 home and auto insurance carriers throughout the U.S., including Travelers, Nationwide, Safeco, Kemper, Progressive, and Encompass, with plans to expand partnerships in 2020. In addition, Gabi has powered insurance-shopping experiences for partners in such verticals as auto sales, financial services, real estate, and employee benefits.
Its insurance brokers are licensed in all 50 states and D.C.