Insurify, a Cambridge, MA-based AI-powered insurance comparison platform, raised $23m in Series A funding.
The round was led by MTech Capital and Viola FinTech, with participation from Nationwide, Hearst Ventures, and MassMutual Ventures.
The company intends to use the funds to expand operations and its product offerings into home and life insurance.
Co-founded by Snejina and Giorgos Zacharia, and Tod Kiryazov, who leads product and growth and also led by newly hired CTO Gene Shkolnik, Insurify is a comparison platform for car, home, and life insurance, helping consumers save time and money on their insurance coverage. It allows people to go to Insurify.com, answer a few quick questions about themselves and their needs, and within two minutes, the platform will present their with actual, bindable insurance quotes from numerous top national and regional companies.
The company has partnered with insurance companies to offer exclusive prices not available through independent agent channels or direct on carrier’s sites. It has also aggregated 1,861 different types of insurance discounts to allow people to understand all possible discounts available on a specific policy, so they get the best possible deal.
The system is free to use, and officially licensed and operating in all 50 states while the platform has collected over 100,000 reviews from customers.