Policygenius, a New York City and Durham, North Carolina-based online marketplace for comparing and purchasing insurance, raised $100m in Series D funding.
The round was led by global investment firm KKR, with participation from existing investors Norwest Venture Partners, Revolution Ventures, Susa Ventures, AXA Venture Partners, MassMutual Ventures and Transamerica Ventures.
The company will use the funds for hiring and for broader consumer financial protection products it will unveil in 2020.
Co-founded in 2014 by Jennifer Fitzgerald and Francois de Lame, Policygenius provides a digital experience for consumers to navigate the entire buying process for several types of insurance, including life, home, auto, disability and renters. The company has built integrations with the most trusted insurance carriers and technology for quoting, underwriting and fulfillment. In 2019, Policygenius launched a new property and casualty insurance offering, which scaled to more than $10 million in revenue in less than 12 months.
KKR will be making its investment through its Next Generation Technology Fund II. Allan Jean-Baptiste and Jake Heller will represent KKR on Policygenius’ Board of Directors.