Branch, a technology-driven home and auto insurance company, has closed a $24 million Series A funding round. The round was co-led by Greycroft and HSCM Bermuda, with participation from returning investors American Family Ventures and Revolution’s Rise of the Rest Seed Fund, as well as new investors SignalFire, SCOR Global P&C, Elefund, Foundation Capital, and individuals from Stone Point Capital.
Read More: Huobi Introduces Request for Quote for Electronic Trading and Voice Trading
Branch has revolutionized the experience of bundling home and auto insurance, streamlining the process to take only seconds by asking clients for just their name and address. Branch’s seamless data integrations eliminate the traditional insurance application and quote estimate, presenting clients with an instant, purchasable price instead of just an estimate.
Read More: Hummingbird Raises $8.2M To Automate Financial Compliance Technology
Over the last 12 months Branch has launched in Arizona, Illinois, Missouri, Ohio, and Texas. The Series A funding will spearhead a strategic nationwide expansion plan through 2021. Branch’s innovative technology can easily be integrated into home-financing and car-buying websites. Home and automobile sellers love adding Branch to their site because it equips customers with insurance without a big drop-off in conversion rates. Customers don’t need to dig up additional information to apply or wait for a quote, so they’re more likely to complete their purchase.
“Branch is on a mission to make home and car insurance less expensive for all, enabling more of us to be financially protected from life’s uncertainties,” said Cofounder and CEO Steve Lekas. “This investment further equips Branch to bring instant, financially strong, and less expensive insurance to so many more.”
