Broker Buddha, which transforms the buying and renewing process for commercial insurance, has netted $4.5m in funding.
Vertex Ventures, a US-based venture capital firm, led the investment round.
With the new proceeds, Broker Buddha will look to expand its offering, grow its team, and increase its marketing efforts.
The platform automates agency operations, transforming paperwork into a simplified digital process for insurance agents and clients. Its online submission platform converts static PDF insurance applications into user-friendly, interacting online smart forms.
Its smart forms enable previous clients to use pre-filled information, sign electronically, tooltips and in-app chat.
Vertex Ventures partner Sandeep Bhadra said, “Broker Buddha’s product provides a crisp, modern interface driving massive efficiency gains for the client, broker and underwriter,” “By relieving some of the tedium, they enable more of the white-glove, customized service business owners need and love. We’re excited to partner with a company driving such significant industry change.”
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