Tech provider for the insurance space Wellthie has raised $5m in a Series A round.
IA Capital Group led the round with participation from existing backers including Aflac Ventures and executives from around the insurance sector.
The New York-based startup aims to provide traditional insurance brokers and carriers with the tools to help them create personalised services to SMEs and compete in the rapidly digitalising insurance space.
Wellthie says it new serves brokers across 20 states with its platform having generated hundred of thousands of quotes.
Company CEO and founder Sally Poblete said: “IA Capital Group is a pioneer in investing in innovative technologies to transform the insurance industry.
“Their deep expertise and relationships across the insurance industry will be invaluable as we accelerate our growth and expansion.â€
IA Capital managing partner Andy Lerner commented: “Wellthie has a unique combination of entrepreneurs with deep insurance domain expertise, leadership in e-commerce technologies, and demonstrated outcomes within a gigantic industry ripe for change.
“Their core focus on intuitive customer experience and data analytics is exactly what the industry needs now,â€
Wellthie will use the capital to accelerate growth and further develop its product.
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