Insurance comparison platform Insurify has raised $23m in the Series A funding round led by MTech Capital and Viola FinTech.

Nationwide, Hearst Ventures, and MassMutual Ventures also participated in the funding round.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The new proceeds will help the company to support its expansion into home, renters and life insurance comparison.

Based in Massachusetts, Insurify was co-founded by husband-and-wife Snejina and Giorgos Zacharia as an AI-driven virtual insurance agent.

It allows the users to compare insurance products across various categories as well as provide smaller insurers with access to new customers.

Since its launch, the company has closed around 125,000 policies valuing more than $10bn of insurance coverage.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Insurify co-founder and CEO Snejina Zacharia said: “Our mission is to make insurance shopping transparent, and to empower everyone to make insurance decisions on their own without the help of an agent, where incentives are rarely aligned.

“For the average American, saving a few hundred dollars a year is significant. We are changing people’s lives every day by helping them cut their monthly burden and also helping protect their families and loved ones.”

The platform is equipped with proprietary software RateRank that matches the user with the appropriate insurance companies based on their risk profiles.

Insurify allows consumers to compare insurances based on prices, benefits, customer service and reviews.

Furthermore, the consumers can track discounts available on a specific policy and buy certain policies directly from the site.