Policygenius, a New York-based tech-enabled platform for insurance distribution, raised $125M in Series E funding.
The round, which brought total funding to more than $250m, was led by KKR, Norwest Venture Partners, and Revolution Ventures with participation from Brighthouse Financial, Global Atlantic Financial Group, iA Financial Group, Lincoln Financial, Pacific Life, AXA Venture Partners and MassMutual Ventures. As part of the round, ORIX Corporation USA’s Growth Capital group provided a new credit facility and Policygenius refinanced its existing senior loan facility with JPMorgan Chase.
The company intends to use the funds to continue to invest in the growth of its core businesses of life, disability, home, and auto insurance.
Co-founded by Jennifer Fitzgerald and Francois de Lame, Policygenius provides a platform where customers can compare options from top insurance carriers, get unbiased expert advice, buy policies, and manage their insurance portfolio, in one integrated experience.
Since its founding in 2014, the company has built integrations with insurance carriers and developed proprietary technology for quoting, underwriting, and fulfillment. Earlier this year, Policygenius launched its Policygenius Pro offering, which brings its life insurance platform — including software, expansive carrier shelf, and operations — to B2B distribution partners.