Insurtech AgentSync achieves unicorn status after raising $75 million
Summary
Denver-based insurtech firm AgentSync has attained unicorn status after raising $75 million in a Series B round, which pushed the companys value to $1.2 billion.The funding was led by Valor Equity Partners, with participation from Craft Ventures, Tiger Global, Atreides Management, Anthemis, and existing investors. The latest round brought the total financing raised by the company to $111.1 million.The firm provides insurance companies with a producer management platform.The overwhelming industry enthusiasm and customer traction for AgentSync make it clear that the future of insurance distribution will be powered by AgentSync, said Antonio Gracias, chief executive officer of Valor Equity Partners. [The company has] proven that there is a much larger market to serve that goes beyond licensing compliance. The products theyre building upstream and downstream of the core AgentSync producer management solution position the company as the clear leader.Since raising its first round of seed capital 17 months ago, AgentSyncs valuation has grown significantly, experiencing 3.5 times year-over-year annual recurring revenue (ARR) growth.
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