Semsee, a New York-based provider of a platform for selling commercial insurance, raised an undisclosed amount in Series B funding.
The round was led by Dick Costolo and Adam Bain’s 01 Advisors with participation from existing investor the D. E. Shaw group, through its venture studio DESCOvery. Former insurance executive Jonathan Crystal, Managing Partner, Crystal Venture Partners, is joining Semsee as an advisor.
The company intends to use the funds to accelerate expansion into new markets and the addition of new technology features that help insurance agents and carriers deliver more insurance policies to business owners.
Led by CEO Philip Charles-Pierre, Semsee simplifies and accelerates the small commercial quoting experience for independent agents, giving them more time to service their clients and grow revenue. It combines advances in technology, workflow efficiencies and data and analytics to give agents quotes from multiple appointed carriers through a single-form submission. Using Semsee, agents can submit one form and receive multiple insurance quotes in minutes. They can compare coverage and pricing information and talk to their clients about what they’re buying and what it covers. Insurance companies can simultaneously connect to agents, enabling the most efficient way to access the risks they want. Semsee works closely with its users, and based on their feedback, plans to add more features to make the platform even easier to use in the future.
Today, the platform connects 5,000 agents and is working with more than 40 insurance companies on its platform.
FinSMEs
01/03/2022