Insurify Valuation, Funding & Investors
Insurify is valued at $96M as of January 2020.
Last Insurify valuation
$96M
Series A · Jan 2020
Last Insurify funding round
$100M
Series B · Sep 2021
Cumulative funding Insurify raised
$130M
across 4 funding rounds
Key investors in Insurify
MassMutual Ventures
Nationwide Ventures
Hearst Ventures
Viola FinTech
Motive Partners
Viola Growth
About Insurify
Insurify is a Cambridge-headquartered insurtech platform that enables drivers across all 50 U.S. states to compare and purchase auto insurance quotes online. The service integrates artificial intelligence and natural language processing within its chatbot-driven interface to analyze driving history, vehicle details, and coverage needs for personalized rate recommendations from over 120 insurers including Progressive and Geico. Available through web and mobile app, Insurify launched in 2013 and expanded to include home and life insurance comparisons.
Founded
2013
HQ
United StatesWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Valuation
$96M (Jan 2020)
Insurify Valuation
Insurify is currently valued at $96M, based on its Series A in January 2020.
The $23M round was led by MTech Capital and Viola FinTech, with participation from Nationwide Ventures, Hearst Ventures and MassMutual Ventures.
Insurify valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2020 | Series A | $96M |
Insurify Funding History
Insurify has raised a total of $130M across 4 funding rounds.
Insurify's first fundraising round was a $2M seed round in January 2016. The most recent completed round was a $100M Series B in September 2021.
Insurify funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2021 | Series B | Motive Partners (lead); Viola Growth; R136 Ventures; Nationwide Ventures; Hearst Ventures; MassMutual Ventures; Fort Ross Ventures; Moneta VC; Viola FinTech | $100M | - | Insurify is a Cambridge, Massachusetts-based virtual insurance agent and comparison platform founded in 2013 by CEO Snejina Zacharia. The company offers AI-powered recommendations to help customers compare and purchase auto, home, and life insurance quotes from more than 100 carriers, operating as a fully licensed insurance agent that handles policy fulfillment and servicing while earning commissions. In September 2021, Insurify closed a $100 million Series B funding round led by private equity firm Motive Partners, with participation from existing investors Viola FinTech, MassMutual Ventures, Nationwide, Hearst Ventures, and Moneta VC, as well as new investors Viola Growth and Fort Ross Ventures. By the time of this round, Insurify had raised a cumulative total of $128 million since inception. The company disclosed significant growth metrics: it grew its new and recurring revenue by 6x since its Series A in Q4 2019, achieved a three-year compound annual growth rate of 151%, and demonstrated consistent year-over-year revenue growth of 2.5x. Insurify had also amassed over four million satisfied customers and facilitated more than $170 billion in insurance coverage purchases since 2016. The company planned to use the new capital to expand operations and accelerate growth initiatives including scaling product offerings, deepening carrier integrations for instant purchase experiences, and establishing embedded insurance products through partnerships with companies like Toyota Insurance Management Solutions and Nationwide. Despite the company's strong growth trajectory and impressive metrics, the post-money valuation and specific revenue figures for this round were not publicly disclosed. |
| Jan 2020 | Series A | MTech Capital (lead); Viola FinTech (lead); Nationwide Ventures; Hearst Ventures; MassMutual Ventures | $23M | $96M | Insurify is a Cambridge, Massachusetts-based AI-powered insurance comparison platform founded in 2013 that enables users to compare and purchase auto insurance quotes from multiple providers using machine learning, with expansion into home, renters, and life insurance following this Series A round. The $23 million Series A funding on January 15, 2020, was co-led by MTech Capital and Viola FinTech, with participation from Hearst Ventures, MassMutual Ventures, and Nationwide Ventures, bringing total funding to nearly $30 million including prior $4.6 million and $2 million rounds. Funds were allocated to support product expansion into new insurance verticals and to enhance marketing efforts powered by AI algorithms that optimize customer acquisition like a hedge fund model. At the time of the round, Insurify reported doubling revenue year-over-year since 2016 launch, closing 125,000 policies, and over $10 billion in insurance coverage written, while operating in all 50 U.S. states with partnerships including top carriers like Liberty Mutual, Travelers, Nationwide, and MetLife for direct bindable quotes and exclusive pricing. The platform collected over 100,000 customer reviews and promised quotes in two minutes by asking minimal questions, also developing ancillary tools like a policy management wallet. Investor interest stemmed from Insurify's position at an inflection point in U.S. auto insurance distribution toward online purchasing, driving transparency and savings, with MTech Capital highlighting price comparison leadership potential and Viola FinTech bringing fintech expertise. The company had multiple term sheets but selected leads for their insurance and fintech domain knowledge. |
| Mar 2017 | Seed | MassMutual Ventures (lead); Nationwide Ventures (lead) | $5M | - | Insurify is an online car insurance comparison platform and virtual insurance agent based in Cambridge, Massachusetts. Founded as an MIT spinout, the company operates as a meta-agency connecting consumers with approximately 100 insurance carriers through its network of over 800 agents, available in all 50 states. In March 2017, Insurify announced a $4.6 million funding round led by MassMutual Ventures and Nationwide Ventures, along with participation from existing investors. The capital was raised to support the company's expansion efforts, including the launch of enhanced virtual agent services and a Facebook Messenger-based car insurance comparison tool. Since its launch in January 2016, the company demonstrated strong early traction with reported month-on-month average growth of 40%. |
| Jan 2016 | Seed | Rationalwave Capital Partners (lead) | $2M | - | - |
Who has invested in Insurify?
11 investors have backed Insurify across its funding rounds, including MassMutual Ventures, Nationwide Ventures, Hearst Ventures, Viola FinTech, Motive Partners and Viola Growth.
Lead investors include Motive Partners, MTech Capital, Viola FinTech, MassMutual Ventures, Nationwide Ventures and 1 other investor.
Insurify Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Columbus, OH | 3 | Lead | Mar 2017 | |
| United States | 3 | Lead | Mar 2017 | |
| New York City, NY | 2 | Participant | Jan 2020 | |
 Herzliya | 2 | Lead | Jan 2020 | |
| Herzliya | 1 | Participant | Sep 2021 | |
 George Town | 1 | Participant | Sep 2021 | |
| New York City, NY | 1 | Lead | Jan 2016 | |
| New York City, NY | 1 | Lead | Sep 2021 | |
| Los Angeles, CA | 1 | Lead | Jan 2020 | |
This data is available for Pro users. Sign up to see all 11 Insurify investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Insurify
Insurify has acquired 1 company to date.
Last acquisition by Insurify was on March 6th 2023. Insurify acquired Compare.com for undisclosed valuation.
Latest Acquisitions by Insurify
| Description | - |
| HQ Country | |
| HQ City | - |
| Deal Date | 6 Mar 2023 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Insurify acquisitions and their M&A valuation multiples. Start Free Trial | |
Insurify Competitors
Insurify competitors include listed companies like SelectQuote, AIX Inc., eHealth and Rasan, and private ones like CXA Group and Pitzi.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Publicly listed | $1.6B | $138M | $83M | 0.5x | |
 China | Publicly listed | $83M | ($342M) | $64M | - | |
| United States | Publicly listed | $554M | $83M | $27M | 1.0x | |
 Saudi Arabia | Publicly listed | $174M | $73M | $3B | 11.0x | |
 Singapore | Private | $14M | - | $100M | 7.1x | |
 Osasco | Private | - | - | $100M | - |
Insurify Public Comps
Insurify is still privately-owned, but its public comps include SelectQuote, Ateam Holdings, MNC Financial Services, Vocento, Monvia, Temairazu, Enechange, AIX Inc., Health In Tech and Zhibao Technology.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.6B | $138M | 0.5x | 0.5x | 5.5x | 7.1x | |||
| $154M | $15M | 0.6x | 0.6x | 6.3x | 13.0x | |||
| $210M | $91M | 0.6x | - | 1.3x | - | |||
| $385M | $28M | 0.6x | 0.6x | 7.9x | 10.8x | |||
| - | - | - | - | - | - | |||
| $14M | $10M | 6.0x | 5.4x | 8.1x | - | |||
| $43M | ($659K) | 1.0x | 1.0x | (64.8x) | 10.4x | |||
| $83M | ($342M) | 0.8x | - | (0.2x) | - | |||
This data is available for Pro users. Sign up to see all Insurify competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Insurify
| When was Insurify founded? | Insurify was founded in 2013. |
| Where is Insurify headquartered? | Insurify is headquartered in United States. |
| Is Insurify publicly listed? | No, Insurify is a private, VC-backed company. |
| What is Insurify's valuation? | Insurify was last valued at $96M in its Series A in January 2020. |
| How much funding has Insurify raised? | Insurify has raised $130M across 4 funding rounds. |
| What was Insurify's last funding round? | Insurify's last funding round was a $100M Series B in September 2021, led by Motive Partners. |
| Who are Insurify's investors? | Insurify's investors include Nationwide Ventures, MassMutual Ventures, Hearst Ventures, Viola FinTech, Viola Growth, R136 Ventures, Rationalwave Capital Partners, Motive Partners, MTech Capital, Fort Ross Ventures and 1 other. |
| Which companies are comparable to Insurify? | Companies comparable to Insurify include SelectQuote, AIX Inc., eHealth, Rasan, CXA Group and Pitzi. |
| How many companies has Insurify acquired? | Insurify has acquired 1 company, including Compare.com. |
See companies similar to Insurify
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.