Gravie grabs $1m for new life insurance service

Minneapolis-based insurance technology company Gravie has received $1m in funding from Securian Financial Group to roll out a new life insurance service.

This is the first time Gravie branches out into a different insurance market segment.

The company started out as an online health insurance provider back in 2013 and has raised several rounds of financing to back its core products.

Last April, Gavie got $12.5m in a Series B rounde led by Split Rock Partners and three other investors. Its total funding to date amounts to $26.6m.

The company aims to provide customers with one place online where they can buy health coverage and manage all of their healthcare expenses.

The new partnership with Securian will enable Gravie to provide the same service for life insurance products.

Copyright © 2016 FINTECH GLOBAL

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