202114 Jan
Exclusive: Employee Benefits Company WatchTower Becomes ThreeFlow, Raises $8M Series A
Type
Funding Rounds
Funding
202114 Jan
$8MSeries A
Source
Crunchbase
Summary

“We aim to pull the employee benefits industry forward by enabling each to manage the entire placement process in one shared system.” In addition, ThreeFlow brought in $8 million Series A funding led by Emergence Capital1, with participation from Equal Ventures and First Trust Capital Partners. Joseph Floyd, general partner at Emergence, said in a written statement that the complexities involved in procurement of insurance benefits are now being addressed by ThreeFlow. It is very siloed and tied to manual processes.” Meanwhile, ThreeFlow serves the mid to large market, which he defines as more than 50 employees. Within that market, 2020 was a momentous year in terms of expansion, as well as the growth of the supply and demand sides of the business, Sachtjen said. Last year, ThreeFlow facilitated more than $200 million in transactions, a 10 times increase from 2019, and is now working with 28 enterprise contracts and more than 40 carrier relationships.

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