DealerPolicy, a Burlington, Vt.-based insurance marketplace for automotive retail, raised $30m in Series B funding.
The round was led by 3L Capital and Hudson Structured Capital Management Ltd. – doing its re/insurance business as HSCM Bermuda Management Company.
The company will use the funding to accelerate the development of its insurance platform for the auto industry and to expand its team, including the appointment of two new executives, Wayne Pastore as President and Chief Operating Officer and Tara Kasica as Senior Vice President of Sales.
Led by Travis Fitzgerald, CEO, DealerPolicy is a digital insurance marketplace for automotive retailers and their valued customers. The company’s mobile technology enables car-buyers to view multiple insurance quotes and connect with licensed insurance agents to purchase insurance. DealerPolicy Insurance is a licensed insurance agency, with licenses to operate in the lower 48 states.
Today, the company’s wholly owned agency, DealerPolicy Insurance, and its network of over 800 dealers, has generated over $13 million dollars in annualized insurance savings and over $60 million in increased buying power for its customers.