• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Contact Us

Agency Checklists

Massachusetts Insurance News & Job Opportunities

You are here: Home / Insurance News | Massachusetts / Insurtech | Innovation / Insurtech | Exits & Partnerships / Insurify Secures $100 Million in Series B Financing

Insurify Secures $100 Million in Series B Financing

September 27, 2021 by AC Editor

The latest Series B funding round was led by Motive Partners


Another Boston-based insurtech has raised a $100 million. Cambridge-based insurtech Insurify announced earlier this month that it has secured $100 million in financing during its latest Series B funding round. Led by the specialist private equity firm Motive Partners, the funding round also included participation from existing investors Viola FinTech, MassMutual Ventures, Nationwide, Hearst Ventures, Moneta VC, as well as new investors Viola Growth and Fort Ross Ventures. To date, the company has raised a total of $128 million in funding.

“Our mission is to strengthen the trust between the customer and the agent by building the smartest, most reliable virtual insurance agent in the industry. We want to empower our customers to make the best decisions about their insurance and be confident that they can get immediate savings through our product,” said Snejina Zacharia, founder and CEO of Insurify. “We’re very excited to partner with our investors to continue building a trusted brand loved by millions of customers and achieve our growth targets. The industry is accelerating its shift towards digital insurance brokerage, and Insurify is leading the charge.”

Will continue to focus on accelerating growth initiatives

Insurify raised $28 million to expand into Home Life insurance in January 2020

With this latest infusion of cash, Insurify will continue to expand its operations and accelerate its various growth initiatives. Since its initial Series A funding in 2019, the company says it has added its home insurance marketplace, as well as announcing to major partnerships: one with Toyota Insurance Management Solutions and the other with Nationwide.

As for overall results, Insurify notes that the company has logged a “2.5x year-over-year revenue growth despite the effects of COVID-19”, and also has grown new and recurring revenue by six times since its initial Series A funding in Q4 of 2019. Lastly, the company has achieved a “CAGR” of 151% for the last three years.

James O’Neill, Founding Partner at Motive Partners commented, “Insurify is bringing cutting-edge digital distribution technology to the insurance market, a $2 trillion industry in the United States alone. Insurify is already growing rapidly and the new round of investment will allow the company to accelerate its investment in enriching their existing services and extending their reach to additional insurance products. We look forward to partnering closely with Snejina and the Insurify team, and leveraging Motive Partners’ resources in technology and innovation, to capitalize on this unique market opportunity.”

One of Agency Checklists’ first insurtech interviews

Insurify was founded in Cambridge in 2013 by CEO and founded Snejina Zacharia, formerly an executive at Gartner, who was finishing up an executive MBA from MIT’s Sloan School of Management. Frustrated by the lack of a true online comparison experience, Zacharia decided to build the solution—Insurify, a virtual insurance agent with real-time quotes and the ability to buy insurance the way customers want, over the phone or online.

Insurify also was actually the first “insurtech” that Agency Checklists profiled on our site, in March of 2016. For those interested in re-visiting that profile, it can be accessed here: A Q&A With Cambridge Start-Up Insurify- The Site Aiming To Be The Virtual Insurance Agent Of The Internet.

Primary Sidebar

New Episode

MA Insurance Lawyers

SPONSORED

MA DOI Advertisements

Career News

AAU Announces Hire of Roderiques in Boston, MA

AAU Announces Hire of Roderiques in Boston, MA

MIB Elects New Chair, Vice Chair, and Directors to its Board

Plymouth Rock Home Assurance Corporation Names Colleen Finn as Chief Marketing Officer 

Plymouth Rock Home Assurance Corporation Names Colleen Finn as Chief Marketing Officer 

McDonnell Named President of Vermont Mutual Insurance Group

Mark J. McDonnell Elected Chair of the Board of Directors of Vermont Mutual

View More Career News

In Memoriam

In Memoriam: Rita Julia Messier, 1936-2025

In Memoriam: Rita Julia Messier, 1936-2025

In Memoriam: John J. Doyle Jr., 1942-2025

In Memoriam: Joseph Lombard, 98, Founder of Corinthian Insurance In Medway

Company News

RMV, AAA Northeast Promote Safe Driving for Teens Ahead of Summer

Arbella Insurance Foundation Launches Annual “Let’s Drive Out Hunger” Program to Raise Funds for Hunger Relief Programs Across New England

Arbella Insurance Foundation Launches Annual “Let’s Drive Out Hunger” Program to Raise Funds for Hunger Relief Programs Across New England

Progressive Drives Small Business Forward with $1 Million in Commercial Vehicle Grants

Agency Checklists, MA Insurance News, Mass. Insurance News, MA Life Insurance Companies, Boston Mutual

Boston Mutual Life Insurance Company’s Making An Impact Program Celebrates Seven Years of Giving Back

Footer

Agency Checklists

Contact us

We offer a variety of ways to get help promote your company or product.

Announcements
Email Sponsorships
Partnerships
Custom Collaborations

*Affiliate Disclosure

Please note that any of Agency Checklists’ articles might contain one or more affiliate links. This means that any subsequent purchase resulting from these links may result in a commission for us, but at no additional cost to you. For example, as an Amazon Associate, Agency Checklists earns a commission from all qualifying purchases. By working with affiliates we can continue to keep Agency Checklists subscription free. Thank you for your support.

Explore Our Archives

Copyright © 2025 · Agency Checklists · All rights reserved.

 

Loading Comments...