Indio Technologies raised $6 million in new venture financing, money that will help expand the capabilities and use of its digital commercial insurance platform for brokers.
The Series A financing included a number of investors, and 8VC led the round. Merus Capital, 500 Startups and Compound also participated Before this financing, Indio raised an additional $2 million in seed money.
“Leaders of commercial insurance agencies across the U.S. recognize their success depends on how well their client-facing executives engage with clients and prospects, and their ability to drive efficiencies across their operations,” Indio co-founder and CEO Mike Furlong said in prepared remarks. “Indio gives brokers and agents a platform to collect application and renewal data in a digitalized, efficient manner that improves customer experience and saves keystrokes.”
Indio said its automation platform and related tools helps to move paper-related processes online, and streamline workflows. By doing so, insurance agents and brokers can focus more on boosting client experiences and addressing risk management challenges rather than paperwork, Indo asserts.
Furlong, along with Adam Bratt and Matt Watson founded Indio in 2016. The company is based in San Francisco.