Denver-based insurtech company Highwing has secured $4million in a seed funding round co-led by BrokerTech Ventures, a specialist platform provider for the broking market.
Highwing was founded to provide an open exchange ecosystem for the benefit of the insurance industry value-chain.
The company intends to use the $4 million to expand its product suite, allowing users to organise insurance applications and more, providing a valuable service to the industry.
Partners in co-leading this investment round, Baldwin Risk Partners and BrokerTech Ventures were joined by member firms, Holmes Murphy, The ABD Team, Conner Strong & Buckelew, and Heffernan Insurance Brokers.
Investment groups Cameron Ventures, Revolution’s Rise of the Rest Seed Fund, SkyKnight Capital, SpringTime Ventures, AmWINS Group, and Service Provider Capital aligned in capital support to complete the Highwing investment round.
“Our BrokerTech Ventures agencies could not be more thrilled to be co-leading the investment round in Highwing and their open exchange technology platform. Leaning into technology and innovation matters now more than ever,” said Dan Keough, Holmes Murphy chairman and CEO and BrokerTech Ventures co-founder.
“We believe that by marrying BrokerTech Ventures and our $1.6 billion in collective distribution with the Highwing technology, we hold a tremendous opportunity to change the insurance industry and impact the value chain for the benefit of all.”
“We’re tremendously grateful for the support BrokerTech Ventures has provided to co-lead our seed funding round, which enables us to add staff to our engineering team and expand our product,” said Highwing CEO Erik Mitisek.
“BrokerTech Ventures is uniquely positioned as a first mover in insurance innovation and their strong combination of amazing broker partners and insurance wisdom from the best in the industry will propel Highwing forward.”
“This is an exciting time for BrokerTech Ventures, our agency partners, for Highwing, and for our insurance industry at-large,” said Dan Keough.
“As the co-leading investment partner and by bringing together our collective BrokerTech Ventures agency and insurance company multibillion-dollar distribution platform, we hold an opportunity to bring greater value to the end customer in a more cost effective and efficient manner.”
