Deals

Insurify Raises $4.6M in Funding
Date: 
Thursday, March 16, 2017
Location: 
Cambridge
Categories: 
Consumer
eCommerce & Marketplaces
Deal Type: 
Funding

Insurify, the virtual insurance agent for car insurance shopping, announced today that it has closed a $4.6 million funding round, led by MassMutual Ventures, Nationwide Ventures and its existing investors, to fuel its rapid growth and transform the insurance shopping experience with artificial intelligence. The MIT spin-off also announced today the launch of the first U.S. car insurance comparison service on Facebook Messenger. Insurify’s patent-pending virtual agent, which is powered by artificial intelligence and natural language processing, helps drivers compare insurance quotes by messaging. Insurify’s bot also helps drivers with discounts and advises on the best coverage and companies for their needs.

“Our Facebook Messenger virtual agent experience is faster than any website or mobile app, and easier to use than any online form. It’s a powerful example of how our technology will work on all other messaging services,” said Snejina Zacharia, Insurify’s founder and CEO. “Our vision is to continue to enhance the artificial intelligence and data integrations behind our virtual agent and train the algorithms to pass the insurance licensing exam... READ MORE