The funds will play a crucial role in further developing and expanding Agentsync’s platform, which serves as a central hub for insurance agents, carriers, and other stakeholders. By leveraging advanced technology, Agentsync facilitates seamless data exchange, enhances efficiency, and reduces friction in the insurance workflow.
AgentSync, a prominent player in modern insurance infrastructure, has successfully concluded a $50 million funding round, bringing the company’s total funding to date to $161 million. This funding round was co-led by existing investors Craft Ventures and Valor Ventures. Since its Series B funding in Q4 2022, AgentSync has achieved remarkable growth, boasting a threefold increase in Annual Recurring Revenue (ARR) and doubling its customer base.
AgentSync collaborates with over 200 insurance entities, spanning carriers, Managing General Agents (MGAs), and agencies, offering comprehensive coverage across all lines of insurance. The company is recognized for its flexible cloud-native solutions, adept problem-solving capabilities, and a robust track record of customer success.
This significant capital injection positions AgentSync to further enhance its product offerings, with a specific focus on serving the largest and most reputable carriers in the nation. The company’s commitment to delivering cutting-edge solutions in the realm of modern insurance infrastructure remains steadfast, solidifying its role as a key player in the industry.
“AgentSync has become core infrastructure for hundreds of insurance companies, helping them scale distribution and reduce costs,” said Brian Murray, Partner at Craft Ventures. “We are excited to deepen our partnership with the AgentSync team as they continue to upgrade the resilience and efficiency of the insurance industry.”
AgentSync’s infrastructure solves a vital problem in the insurance industry: effective and efficient distribution. By establishing flexible, scalable connections between insurance distributors and underwriters, AgentSync powers and streamlines the delivery of insurance products. The company continues to aggressively build and innovate with a focus on SaaS and API solutions that create data visibility and efficiencies for insurers, and exceptional experiences
for agents and brokers.
“Given the current headwinds sectors of the insurance industry are facing, investing in modern, scalable infrastructure to manage distribution has never been more important. With AgentSync, customers have the flexibility to quickly and intelligently ramp distribution channels up or down as needed. This drives massive distribution channel-related cost savings when efficiently executed through software,” said co-founder and CEO Niji Sabharwal.
“Helping our customers adapt quickly and manage risk and expenses during tough market conditions is extremely rewarding – especially knowing that they’re building bulletproof distribution infrastructure for when the markets improve.”
“AgentSync solves a critical, ubiquitous and long neglected problem in the insurance Industry. This infusion of capital ensures they have the platform and support needed to move up market to larger and more complex carrier requirements and continue to charge ahead solving the extremely complex problems plaguing the insurance industry today,” added Mike Rosenbaum, AgentSync board member and CEO of leading insurance software, Guidewire.
Author: Joanna England
