Threeflow, which provides software to insurance brokers selling employee benefits, has secured $45m from a Series B funding round.
The financing raise was led by Accel and also saw participation from Emergence Capital, Equal Ventures and First Trust Capital Partners.
Founded in 2015, ThreeFlow claims it is the first benefits placement system that enables brokers and carriers to manage the entire placement process in one shared system. The firm looks to make it easier for carriers to win business and brokers to empower employers with the details they need to make better benefits decisions.
According to Coverager, the Chicago-based firm serves around 7,600 employer clients and has over 40 carrier partners.
Accel partner Nate Niparko said, “The benefits market faces a ‘many-to-many problem,’ as brokers work with many employers on one side, and many insurance carriers on the other. ThreeFlow’s Benefits Placement System has become the central collaboration hub for this industry.”
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