AgentSync raised an additional US$50 million, bringing total funding to US$161 million, the Denver company said on 26 October 2023.
The round was co-led by existing investors Craft Ventures and Valor Ventures. Since its Series B in the fourth quarter of 2022, AgentSync claimed threefold ARR growth and more than twofold customer growth, with a customer base then of more than 200 insurance companies spanning carriers, MGAs and agencies across all lines. Use of capital was framed as doubling down on products for the largest carriers and SaaS and API solutions for distribution data visibility and agent and broker experience.
Brian Murray, partner at Craft Ventures, said: "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." Co-founder and chief executive Niji Sabharwal said customers use the platform for flexible distribution-channel cost control in tough markets while building infrastructure for when conditions improve. ARR and customer-growth multiples are company claims and have not been independently verified by AI-360.