New York based insurance discovery and purchase platform, PolicyGenius, secured $15m in Series B financing led by Revolution Ventures. Since launch, PolicyGenius has raised more than $21 million in venture capital funding and has experienced 20 percent month-over-month growth in sales. The team will use the new influx of Series B funding to expand the company’s product lines and accelerate its growth in the U.S. insurance market, which is the largest in the world with more than $1 trillion of net premiums written annually.
"The Internet has disrupted a number of industries, but most consumers still buy insurance the same way their grandparents did,” said Steve Case, Founder and Partner at Revolution Ventures. “PolicyGenius is using online tools and data to give people more choice, control, and convenience when making such an important life decision. It's precisely the kind of company we like to back at Revolution, and our team at Revolution Ventures is proud to be leading this investment round."