AgentSync, a company building modern insurance infrastructure that connects carriers, agencies, MGAs, and producers, has raised an additional $50 million in funding to drive operational efficiencies for insurers and distributors.
The latest round, co-led by existing investors Craft Ventures and Valor Ventures, brings AgentSync’s total funding to date to $161 million.
Since raising the Series B in Q4 2022, the company has seen 3x ARR growth and more than 2x customer growth. AgentSync works with more than 200 insurance companies spanning carriers, MGAs, and agencies, covering all lines of insurance.
This round of capital allows AgentSync to double down on building the most modern and connected producer management and compliance solutions to provide flexibility in distribution channels for large carriers.
Brian Murray, Partner at Craft Ventures, noted: “AgentSync has become core infrastructure for hundreds of insurance companies, helping them scale distribution and reduce costs.
“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 aims to solve a vital problem in the insurance industry: effective and efficient distribution, the firm claims. It is able to power and streamline the delivery of insurance products by establishing flexible, scalable connections between insurance distributors and underwriters.
Co-founder and CEO, Niji Sabharwal commented: “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. 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.”
Mike Rosenbaum, AgentSync board member, said: “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.”
