Boston-based insurance technology firm Wunderite has received $3m in a seed financing round led by Spark Capital.
Boston Seed joined the round too along with other insurance players and their executives.
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Among them are John Wepler from MarshBerry, Scott Addis from Beyond Insurance, and Brian Hetherington from The ABD Team. Ty Harris from Openly, Andrew Krantz from York International, Heffernan Insurance Brokers, Trustco Inc, and BrokerTech Ventures also participated.
Wunderite plans to use the new capital to speed up product development and increase distribution to agencies.
It also intends to use the funds to double its staff headcount in the next 12 months.
Spark Capital general partner Alex Finkelstein will now be a member of the Wunderite board.
Finkelstein stated: “Wunderite is allowing agents to be more valuable partners to their customers by offering a streamlined, data-driven product that helps them clearly understand what their options are.
“Wunderite allows them to deliver that in a smart and attractive way for promising ROI.”
Wunderite offers a customer-facing platform for independent insurance agencies. This helps independent agents better serve customers buying or renewing property & casualty insurance.
Wunderite founder and CEO Peter MacDonald said: “Wunderite shortens the application process, helping agents sell more deals. We are relentlessly focused on improving the customer experience.”
Earlier this month, Clearcover and Gradient AI – both US insurtechs – also received funding.
Clearcover raised $200m in a Series D funding round to strengthen its digital insurance offerings. Gradient AI raked in $20m in a Series B round led by American Family Ventures.
