On April 26, 2023, Cambridge-based Insurify filed a Form D with the Securities and Exchange Division notifying the SEC that it had raised an additional $22 million in funding. No official press release was issued announcing the funding nor were the investors listed on Form D.
This latest funding rounds builds on four previous rounds which saw the company raise $2M, $4.6M, $23M, and $100M. Now with the additional $22 million, the total amount for the online insurance agency easily surpasses $125 million. Previous investors in Insurify include Motive Partners, MTech Capital, Viola FinTech, MassMutual Ventures, Nationwide Ventures, and Rationalwave Capital Partners.
The Boston Business Journal, who was the first to notice the additional funding round filing, did reach out to Insurify CEO Snejina Zacharia to enquire about this latest infusion of cash and what it means for the platform.
While no further information with regards to what company made the investment, Ms. Zacharia did confirm the funding and stated that the company plans to use the funding to make more acquisitions, similar to its recent acquisition of Compare.com completed earlier this year, with the overall plan to expand and diversify the company’s product offerings.
