Policygenius is a leading life insurance marketplace that allows consumers to easily compare policies online in one place. So just how much has Policygenius raised in funding? They have raised over $276 million so far in seven rounds of funding. We've got all the details below.
Due to the company's success, growth, and additional funding from investors, Policygenius offers much more than just life insurance today. Policygenius' offerings now include renters insurance, homeowners insurance, disability insurance, auto and more. They can even help customers looking to set up wills and trusts.
Policygenius Funding Rounds
Policygenius' initial seed round of funding took place in 2014 for a total of $750k from six investors. This was followed by a $5.3 million Series A funding round in 2015. In 2016, they raised $15 million in funding with a Series B round.
To expand its offerings and support more customers, the company raised a $30 million Series C. This funding round was led by Norwest Venture Partners back in 2017. This brought their funding total to over $51 million. At the tail end of 2019 and start of 2020, they secured a massive $110 Series D round of funding. This was led by KKR.
Then in March 2022, Policygenius raised an additional $125 million with 11 investors including Mass Mutual Ventures, Pacific Life, and Lincoln Financial Group. That brings the total funding for Policygenius over $276 million.
Policygenius has 27 investors, seven of which are key investors including Kohlberg Kravis Roberts, Norwest Venture Partners, and Orix Growth Capital. Some of the most recent investors include Mass Mutual and Revolution.
On April 25, 2023, Policygenius agreed to be acquired by fellow digital insurance platform Zinnia, to create a tech-focused platform covering the full insurance process, executives at the companies told Reuters. Unfortunately, the acquisition didn't seem like a highly profitable one for the founders. It seemed more like an acquihire.
Policygenius Quick Overview
By working with the nation's best insurance providers, Policygenius offers a quoting engine that allows consumers to compare policies side-by-side for free. The company also has an “insurance checkup” tool to help customers discover and close gaps in their insurance coverage.
They do all the legwork involved with making tough insurance decisions on behalf of their customers. But that's not all. Policygenius has licensed experts who help customers with the application and purchasing process for no extra cost. You can get clear explanations of policies and the entire process in plain English so you know what you’re getting.
- Over 1 million people shop for insurance each month on Policygenius
- 30 million customers trust Policygenius and have used their services to buy over $90 billion in insurance policies
- The company is also rated as one of the best places to work by Inc. Magazine
Sign-up link for free term life insurance quotes and more: Policygenius
Here's a quick look at the Policygenius management team that has helped rocket the company's success and secure so many rounds of funding.
I've personally met with both Jennifer Fitzgerald and Francois de Lame over dinner to learn more about their offerings. I have only good things to say about them and what they've built together. My wife and I have also both tried out the Policygenius platform extensively.
Funding Rounds Indicate A Bright Future For Policygenius
Since Policygenius has raised $276 million in funding with a solid group of investors, the company's future looks bright.
They have an experienced and diverse workforce who prioritize customer service from start to finish. And the company continues to expand its offerings without compromising affordability or reliability for consumers.
To learn more about Policygenius, please explore these additional resources we've published.
- Here's our extensive Policygenius Review.
- Get the latest news in this Policygenius Company Update.
- Learn how to compare life insurance policies.
See Why Policygenius Is Raising So Much Funding
If you want to see firsthand why Policygenius has raised so much in funding, try out their insurance marketplace for yourself. They really have revolutionized the shopping process for so many types of insurance. Even if you already have insurance, it's worth checking real-time quotes for free.
You never know just how much you could be overpaying if you don't. My wife discovered that she was vastly overpaying through the help of Policygenius. And thanks to their easy step-by-step process, she was able to compare quotes, apply, and get more life insurance for less money.
Getting life insurance is an act of kindness for those you love the most. It makes me happy knowing that if I die, my family will get an additional income boost beyond the assets I will already be leaving them. They can use the money to pay for any estate taxes, escape from the world until they feel mentally fit to return, or buy time to figure out what to do with the assets.
Related Post: How Much Life Insurance Do I Really Need?
About the Author: Sam began investing his own money ever since he opened an online brokerage account in 1995. Sam loved investing so much that he decided to make a career out of investing by spending the next 13 years after college working at two of the leading financial service firms in the world. During this time, Sam received his MBA from UC Berkeley with a focus on finance and real estate.
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