Socialeads, Inc., a Milwaukee, WI-based artificial-intelligence data science Insurtech company, raised $1.75m in funding.
Backers included existing investors Northwestern Mutual and Winnebago Seed Fund and new investors Cameron Ventures, Rock River Capital and Silicon Valley’s Plug & Play Ventures.
The company intends to use the funds to grow the sales and client success teams to meet the demand for its platform in field sales organizations in both domestic and international markets.
In addition to the new round of funding, Socialeads is proud to announce the onboarding of enterprise customers Northwestern Mutual and TruChoice Financial, allowing for deployment of Socialeads to their respective field advisors. Socialeads is a part of Plug & Play Ventures Insurtech program and has successfully launched pilots with several large insurance companies in the US and abroad.
Founded in 2018 by Larry Hitchcock, CEO, Socialeads is an innovative machine learning company utilizing AI technology to build a digital prospecting tool that generates high-quality leads for financial services companies and insurance enterprises and their advisors. The company uses advanced natural language processing, personality and emotionality detection and machine learning tools to source near to fully qualified leads in an advisor’s social networks who are achieving key life-events and financial milestones and identifies the mutual connections that can offer introductions and referrals to these leads.