The Cambridge start-up just announced the results from its latest Series B funding round
A screenshot of the Everquote website
Cambridge-based online insurance platform Everquote, has added an impressive $36 million to its coffers as a result of its latest Series B funding round. According to the start-up, investors included Stratim Capital, Savano Capital Partners, Oceanic Partners, T Capital Partners, SecondAlpha and Link Ventures.
Everquote says the funds will be quickly put to use in accelerating the company’s growth into the personal risk marketplace. More specifically, the funds will be used to increase the Everquote team to over 200 employees as the company plans to hire an additional 80 employees by 2018. The start-up also will use the funding to open a second satellite office this year in Woburn as well as to help it expand its presence into the homeowners and life insurance lines.
Coverager, an insurance email newsletter focusing on the global insurtech scene, graphed Everquote’s latest funding success vis-a-vis other high profile insurtech start-ups funding thus far. Coverager was kind enough to let us reprint it here, after we noticed that three out of the five companies are based in the Greater Boston Area. Another reason why we say that Boston is becoming a hub of insurtech.
Everquote made the announcement about its latest funding results in a press release which also welcomed Boston-based Mira Wilczek to its Board of Directors.
More about Everquotes’ newest Board member Mira Wilczek
Ms. Wilczek has joined Everquote’s Board of Directors. Photo courtesy of Cogo Labs, Inc.
Mira Wilczek, who was also named the new President and CEO of venture incubator Cogo Labs this week, joins Everquote as its new member of the Board of Directors. Cogo Labs is a start-up accelerator based in Kendall Square credited with jumpstarting at least 15 companies.
We are excited to welcome Mira Wilczek to our board and appreciate the invaluable insight she will bring to our rapidly growing marketplace,” said CEO Seth Birnbaum. “Mira comes to us from the same incubator EverQuote sprung from and understands how we operate and where we are headed as a company.”
A big data and machine learning expert, Ms. Wilczek is also a Senior Partner at Link Ventures, the parent company of Cogo Labs. Prior to Cogo Labs she was Founder and CEO at Red Panda Security, Principal Investigator under the Department of Defense Advanced Research Projects Agency Cyber Fast Track program (“DARPA CFT”), and Director of Business Development at Lyric Semiconductor, where she garnered industry recognition including TR50, Silicon 60, and an EE Times ACE Award and led the successful sale of the company to Analog Devices.
In addition to these accomplishments, Ms. Wilczek also holds patents both granted and pending in the fields of cyber security and sensor data fusion. A graduate of MIT, she holds an S.B. in Electrical Engineering and Computer Science and an MBA from MIT Sloan. Ms. Wilczek replaces Dr. Jonathan Shapiro on the Board of Directors, who has joined the EverQuote team as its new Chief Scientific Officer.
EverQuote is one of the fastest growing startups in Boston history with a culture that is famous for being productive and fun at the same time,” said Mira Wilczek. “It’s a great fit for my view of a well managed high tech startup and I’m grateful for the opportunity to help it accelerate further.”