Policygenius, a New York-based financial technology company, recently announced it had closed Series 225m in funding. This brings the company’s total funding to $385 million and values it at over $2 billion. This round of funding was led by new investors such as Coatue, Altimeter Capital, and Fidelity International with participation from existing investors, including G Squared, Hercules, Susa Ventures, and CoVenture.
Policygenius Background
Policygenius is an online platform that offers insurance advice, comparison shopping, and digital document support. Founded in 2014, the company has grown to become the number one digital life insurance broker in the U.S. It has also become the fastest-growing life insurance broker in history by helping more than five million users to apply for more than $11.6 billion in coverage.
The.New Funding Round
Policygenius plans to use the new funding to accelerate its product development and to hire additional staff. The funds will also be used to grow its current offerings, such as its AI-driven product recommendations, proprietary underwriting engine, and its financial education platform.
CEO and co-founder Francois de Lame said in a press release, “We are proud of the eco-system of partners who have joined us as investors and look forward to continuing to work together to amplify our mission. This infusion of capital indicates that the insurance industry is poised for a seismic shift — from traditional, dull products to modern, personalized tools.”
Innovations
Policygenius has always been focused on innovation and has built products to provide a more personalized customer experience. Its proprietary underwriting engine, for example, offers instant analysis of customer data to determine the best life insurance rate for each customer. The AI-powered product recommendations also make it easier for customers to find the best coverage for their needs.
Its financial education platform offers helpful resources such as understanding universal life insurance, how to buy life insurance without a medical exam, and what to look for when comparing policies. This provides customers with the information they need to make informed decisions about their life insurance policies.
Policygenius’ Plans
Going forward, Policygenius is looking to further expand its offerings and continue to build innovative products. It currently provides services in over 40 states and is looking to continue to grow in existing and new markets. The company’s long-term goal is to become the world’s leading insurance comparison platform as well as the world’s most trusted financial education partner.
Conclusion
Policygenius has come a long way since it launched in 2014. The success of its Series 225m funding round is a testament to the potential and possibilities of the company. With the new funds, it plans to accelerate its product development and hire additional staff, allowing it to continue its growth and expansion into more states. Ultimately, it aims to become the world’s most trusted financial education partner and the leading insurance comparison platform in the world.
Related FAQs
Q: Who led the funding round?
A: The round of funding was led by new investors such as Coatue, Altimeter Capital, and Fidelity International with participation from existing investors, including G Squared, Hercules, Susa Ventures, and coVenture.
Q: How much money did Policygenius raise?
A: Policygenius raised $225 million in its Series 225m, bringing the total funding to $385 million and valuing the company at over $2 billion.
Q: What are Policygenius’ plans?
A: Policygenius plans to use the new funding to accelerate its product development, hire additional staff, and further expand its offerings. The company’s long-term goal is to become the world’s leading insurance comparison platform as well as the world’s most trusted financial education partner.
Q: What is new yorkbased 125m series 225m?
A: 125m Series 225m is the latest round of funding raised by Policygenius, a New York-based financial technology company. It brought the total funding to $385 million and valued the company at over $2 billion. The round of funding was led by new investors such as Coatue, Altimeter Capital, and Fidelity International with participation from existing investors, including G Squared, Hercules, Susa Ventures, and CoVenture.
Q: What is new yorkbased policygenius 125m series 225m?
A: Policygenius 125m Series 225m is the latest round of funding raised by Policygenius, a New York-based financial technology company. It brought the total funding to $385 million and valued the company at over $2 billion. The round of funding was led by new investors such as Coatue, Altimeter Capital, and Fidelity International with participation from existing investors, including G Squared, Hercules, Susa Ventures, and CoVenture.