Agentero raised $13.5 million in new financing designed to boost and help expand its digital insurance network for agents.
The California-based InsurTech, launched in 2017, is designed to help insurance agents access modern carriers and boost their revenue. Reciprocally, Agentero said its platform also provides opportunities for carriers looking to integrate into a tech-enabled agent channel.
“Agents are the present and future of insurance distribution, and they must become more digital. Our technology strengthens their ability to use data analytics to write new policies with an end-to-end digital experience for their customers,” Luis Pino, CEO, at Agentero, said in prepared remarks.
[Read More: Legacy Carriers Can Join Agentero’s Digital Agent Network as They Improve Their Tech Stacks]
Alma Mundi Ventures led the Series A round, though existing institutional investors including Foundation Capital, Union Square Ventures, Financial Venture Studio, and Two Culture Capital also participated.
Agentero said it works with more than 800 independent agencies, and is on track for major growth. Through its panel of insurance carriers, it provides access to homeowners, auto, renters, umbrella, business owners policies (BOP), general and professional liability, workers compensation, flood, and life insurance.
The company noted it continues to add carriers and additional lines of insurance.
Founder and CEO Luis Pino has previous InsurTech experience; he was the first employee at CoverWallet.