Matic Insurance announced the close of a $24 million funding round led by IA Capital Group.
“With our B round secured, we will be able to further support customer and partnership demand across new channels. I am excited to have our new investors on board and for our existing investors to continue to support our mission of simplifying insurance. I am thrilled to have Andrew Lerner join our board of directors, bringing 25 years of financial services and insurance industry experience to our team of over 150.” – Matic CEO, Ben Madick.
“Matic has been synonymous with expertise in insurtech since their inception a few years ago. We chose to partner with Matic because of their unrivaled proprietary technology, differentiated distribution, and the customer-focused vision and values carried forth by their team. We look forward to seeing Matic’s growth continue as they expand their product offerings, partnerships, and internal talent.” – Managing Partner, IA Capital, Andrew Lerner.
Amid the COVID-19 pandemic, Matic’s customer-centric model continued to grow and navigate the changing home buying and refinancing landscape, seeing a 40% increase in customers leveraging the platform in Q2 compared to Q1. Throughout this time they maintained their industry-leading NPS of 88 and continued to save customers over 30% per year.
In addition to IA Capital, participating investors include Cultivation Capital, Clocktower Technology Ventures, MTech Capital, The K Fund, Protection America, Nationwide Ventures, Anthemis Group, ManchesterStory, Franklin Madison, and Fenway Summer.
Insurance Office of America Secures Strategic Investment from Madison Dearborn Partners and Navacord
Insurance Office of America, has announced a significant new investment partnership involving its producers and employees, alongside strategic investments from Madison Dearborn Partners (MDP), a leading private equity firm, and Navacord Corp., one of Canada’s largest and fastest-growing multi-line insurance brokerages and financial services firms.
Abacus Global Management Acquires AccuQuote to Expand Financial Services Platform
Abacus Global Management, Inc. has announced the acquisition of AccuQuote, a leading online life insurance brokerage company. The move strengthens Abacus’s financial services platform and broadens access to insurance solutions across the United States.
SiriusPoint to Sell 49% Stake in Arcadian Risk Capital for $139 Million
Global specialty insurer and reinsurer SiriusPoint has announced an agreement to sell its 49 percent equity stake in managing general agent Arcadian Risk Capital to Lee Equity Partners for a total consideration of 139 million dollars, including a pre-close dividend.
