QuoteWell raises $12 million
Wholesale insurance brokerage QuoteWell <i class="fa fa-info-circle company-popover" data-content=" QuoteWell Founded: 2021 Headquarters: Austin, Texas, United States Total Funding: $15M See full company profile “> announced an additional $12 million in financing, bringing the company’s total capital raised to $32 million. The funding will be used to expand QuoteWell’s producer footprint and deepen investment in…
Wholesale insurance brokerage
QuoteWell <i class="fa fa-info-circle company-popover" data-content="
QuoteWell
| Founded: | 2021 |
|---|---|
| Headquarters: | Austin, Texas, United States |
| Total Funding: | $15M |
| See full company profile |
“>
announced an additional $12 million in financing, bringing the company’s total capital raised to $32 million. The funding will be used to expand QuoteWell’s producer footprint and deepen investment in the company’s “proprietary,” AI-driven platform.
The funding was led by New Enterprise Associates, with new investors Brand Foundry Ventures and ClockTower Ventures joining the round. Other existing investors Goldcrest Capital and Floating Point also participated, along with a number of strategic angel investors.
Founded in 2021 as Capacity Post, QuoteWell is based in Austin and claims to help agents close more business for hard-to-place risks such as construction, energy, real estate, and manufacturing.
“At Brand Foundry, we see insurance as a massive market that has yet to benefit from the same level of innovation and use of technology as other sectors. We take pride in backing the best founders in Austin, and we believe QuoteWell is one of our city’s standout startups.” – Brian Spaly, General Partner, Brand Foundry Ventures.
“We’ve consistently focused on building a platform that empowers producers to be more efficient and effective, and this new funding will allow us to double down on that strategy. Our ability to seamlessly fuse the best of technology and human expertise is what sets us apart. I don’t believe many players across the insurance ecosystem have managed to actually apply AI in meaningful ways to unlock real leverage with their talent pool—I believe we’ve cracked that.” – Joey Bouchard, Founder and CEO of QuoteWell.
“Clocktower has made many insurance investments and spent significant time evaluating digital and modern wholesale brokerages. What sets QuoteWell apart is their focus on building and automating the internal brokerage experience, combined with a diverse and differentiated carrier panel. We believe they are the true challenger in the space.” – Ned Daoro, Managing Director at ClockTower Ventures.
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