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New York based insurance marketplace PolicyGenius has raised $30m in Series C funding led by Norwest Venture Partners. PolicyGenius has built a marketplace for consumers who want to evaluate multiple insurance carriers and policies all in one place. People searching for a policy can answer a series of questions and find multiple options available to them.
By working with various insurance providers, PolicyGenius has built a quoting engine and allows consumers to compare policies they are eligible for side-by-side. The company also has an “insurance checkup” tool to help customers discover and close gaps in their insurance coverage. Starting with life insurance, PolicyGenius has gradually expanded its suite of options to include health insurance, renters’ insurance, long-term disability insurance and even pet insurance. Since announcing a $15 million round of financing in January 2016, the company has grown monthly revenues by 7x and doubled its employee base. With its new round, PolicyGenius hopes to expand its product lines to include property and casualty policies, and also to build out relationships with its partners.
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