Cambridge, Mass.-based online insurance agency EverQuote Inc. has commenced an initial public offering it hopes will produce $43.2 million in net proceeds for the company.

EverQuote is offering 3,125,000 shares of its Class A common stock at an initial public offering price between $15.00 and $17.00 per share. The offering also includes shares of Class A common stock being offered by selling stockholders. The company will not receive any proceeds from the sale of shares by the selling stockholders.

EverQuote said it expects to grant underwriters a 30-day option to purchase additional shares of Class A common stock. If the underwriters fully exercise their option to purchase additional shares, this could result in additional net proceeds of as much as $53.7 million.

EverQuote said it intends to list its Class A common stock on the Nasdaq Global Market under the ticker symbol “EVER.”

The company reported $126 million in revenues in 2017, up from $123 million in 2016 and $97 million in 2015. Since 2013 it has had a 29 percent annual growth rate. The company has not yet turned a profit—it lost $5.1 million in 2017 and $900,000 in 2016.

The offering is being made only by means of a prospectus. J.P. Morgan and BofA Merrill Lynch will act as lead book-running managers for the offering. Canaccord Genuity, JMP Securities, Needham & Co., Oppenheimer & Co., Raymond James and William Blairwill are co-managers for the offering of its Class A common stock.

Founded in 2011, EverQuote utilizes proprietary technology and data to match insurance shoppers with carriers and agents, both online and offline. The software recommends carriers based on the consumer’s risk profile and information on which carriers consumers with similar profiles have chosen in the past.

EverQuote calls itself the “largest online insurance marketplace,” with 10 million consumer visits per month. More than 90 percent of its sales are of auto insurance; in 2016 it also began selling life and home insurance and launched a safe driving app, EverDrive, which was downloaded 500,000 times in 2017.

The company says it sees future growth ahead from expanding its current auto, home and life sales; entering the renters insurance and commercial insurance markets; and exploring international insurance markets similar to the U.S.

Its current network has more than 160 insurance carriers, including the 20 largest property/casualty carriers by premium volume, more than 100 regional carriers and startups, as well as more than 7,000 insurance agencies. Insurance carriers in its network include Allstate, Farmers, State Farm, Nationwide, Mercury, Liberty Mutual, Travelers, Hartford, American Family, Progressive and MetLife. EverQuote receives a fee when a consumer buys a policy.

In October 2016, EverQuote reported that it closed a $23 million Series B investment led by Maryland-based Savano Capital Partners, with participation from Stratim Capital, Oceanic Partners and T Capital Partners.

Also in 2016, EverQuote was named to the Inc. 5000 list of Fastest-Growing Private Companies for the third year in a row.

Deloitte recognized the firm for its four-year revenue growth of 169 percent, placing it No. 446 on the Deloitte Tech 500 list for 2017.