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Better Agency Raises $8 Million in Series A Financing

Better Agency Raises $8 Million in Series A Financing

Better Agency, the agency success platform for insurance agents, announced that they raised $8m in a Series A round, led by Teamworthy Ventures. There was additional participation from  ManchesterStory Group. Better Agency is an agency success platform that uses automation to help insurance agents sell more policies, retain more customers at renewal and handle the service and claims processes inside an agency.

Better Agency team
Better Agency team

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Better Agency’s latest capital raise brings its total funding to over $10 million. The new capital will allow them to develop a new industry category while tripling down on its growth, and expanding its platform capabilities to meet its vision as the first Agency Success Platform for insurance agents.

“We believe in the independent insurance agency model. No one will invest more time, capital, or resources into independent agents and agency success than us,” said Better Agency CEO Will Shaw.

Will added, “Agencies can’t grow on scattered tech stacks or legacy platforms, especially in a hybrid or remote world. Our dream of a single, unified platform allows independent agents to quote, bind, and issue insurance at scale. Allowing them to better communicate with their clients, and spend more time building relationships, not managing administrative tasks.”

Shaw later went on to say, “We are excited to partner with Teamworthy Ventures because they are leaders in vertical SAAS and have a lot of experience with helping companies bring full-scale solutions to the market. We chose to work with Manchester Story Group because they have deep expertise in insurance. They also have relationships with the top insurance carriers and independent brokerages in the country.”

Insurance agents are already using it to automate processes, sell more insurance policies and retain more customers at renewal.

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Stephen Schmalhofer, co-founder and partner at Teamworthy Ventures has been part of many successful companies and believes it is poised to transform the insurance industry.

“At Teamworthy Ventures, we have been fortunate to partner with several outstanding vertical SaaS teams, including Toast, Teamworks, OpenGov, Slice, Affinity, CampusLogic, and more. Now we are excited to partner with CEO Will Shaw, cofounders Jordan Hatch and Nicholas Ayers and the entire talented Better Agency team.

“Before Teamworthy, I was fortunate to get my career started in the insurance industry where I met some of the smartest professionals and hardest working business owners in America. After speaking with many happy customers, we discovered that Better Agency is the best all-in-one platform to help independent insurance agents grow their agency, serve their clients better and faster, and achieve maximum agency success.

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“With Better Agency, Teamworthy Ventures is also excited to lead our first investment in Phoenix, Arizona, and look forward to partnering with more Arizona entrepreneurs in the future.”

Gregg added, “Better Agency is yet another high-growth, category-defining SaaS company being built here in Arizona. Over the next decade, I believe Better Agency will put more time, energy, and capital toward helping independent insurance agencies succeed than any other organization.”

[To share your insights with us, please write to sghosh@martechseries.com]

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