The latest from Quotewell in the USA;
QuoteWell, a tech-driven wholesale insurance brokerage, has announced an additional $12 million in financing, bringing the company’s total capital raised to $32 million. The funding will be used to expand QuoteWell’s producer footprint and deepen investment in the company’s proprietary, AI-driven platform.
The funding was led by New Enterprise Associates, with new investors Brand Foundry Ventures and ClockTower Ventures joining the round. Other existing investors Goldcrest Capital and Floating Point also participated, along with a number of strategic angel investors.
“At Brand Foundry, we see insurance as a massive market that has yet to benefit from the same level of innovation and use of technology as other sectors,” said Brian Spaly, General Partner, Brand Foundry Ventures. “We take pride in backing the best founders in Austin, and we believe QuoteWell is one of our city’s standout startups.”
Headquartered in Austin, Texas, QuoteWell will leverage the new funding to accelerate its growth in key markets, specifically its producer footprint in the Southeast and on the West Coast. Additionally, the company will continue to invest in research and development, focusing on AI-driven automation within its proprietary platform to enhance QuoteWell’s “Human-first. Always Advanced.” approach.
“We’ve consistently focused on building a platform that empowers producers to be more efficient and effective, and this new funding will allow us to double down on that strategy,” said Joey Bouchard, Founder and CEO of QuoteWell. “Our ability to seamlessly fuse the best of technology and human expertise is what sets us apart. I don’t believe many players across the insurance ecosystem have managed to actually apply AI in meaningful ways to unlock real leverage with their talent pool—I believe we’ve cracked that.”
QuoteWell specializes in placing complex, commercial risks in the non-admitted insurance market, including construction, energy, real estate, manufacturing, and more. By combining real insurance expertise with tech-enabled workflows, the company provides a modern solution for a traditionally outdated industry, helping agency owners and producers place tough risks faster and grow their book of business.
“Clocktower has made many insurance investments and spent significant time evaluating digital and modern wholesale brokerages,” said Ned Daoro, Managing Director at ClockTower Ventures. “What sets QuoteWell apart is their focus on building and automating the internal brokerage experience, combined with a diverse and differentiated carrier panel. We believe they are the true challenger in the space.”
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