Jasper, a firm creating what it calls a “AI content” platform, has secured $125 million at a $1.5 billion valuation as interest in AI image and text generators surges.
Insurify Massachusetts-Based 100m Series B Motive Partners
Interestingly, the tranche is the company’s first and it occurs as Jasper is buying grammar and style checker and AI firm Outwrite, which has more than a million customers worldwide.
According to CEO Dave Rogenmoser, the money will be used to develop Jasper’s core products, enhance the user experience, and expand the use of Jasper’s technology in apps.
It will also support Jasper’s ongoing efforts to merge the Outwrite brand under its own, he said, and unify the two companies’ offerings in 2023.
Led by Insight Partners with participation from Bessemer Venture Partners, IVP, Foundation Capital.
Founders Circle Capital, Coatue, and HubSpot Ventures, it will be done so under the leadership of Insight Partners.
Insurify Secures $100M in Series B Financing Led by Motive Partners
Today, Motive Partners, a specialised private equity firm focused on financial technology investments, revealed that Insurify.
America’s top-rated virtual insurance agent and comparison site, had closed $100 million in Series B funding.
Existing investors Viola FinTech, MassMutual Ventures, Nationwide, Hearst Ventures, Moneta VC, and new investors Viola Growth and Fort Ross Ventures participated in the round.
The fast-growing firm has raised a total of $128M to far, increased its new and recurring revenue by 6x since its Series A fundraising in Q4 of 2019.
And has achieved a CAGR of 151% over the last three years. This is the most recent development for the business.
The investment’s proceeds will be used by Insurify to build its business and quicken its expansion plans.
This entails expanding its direct quoting integrations across all insurance verticals, pursuing more embedded insurance opportunities, increasing hiring efforts, strengthening brand awareness.
And expanding product functionality to deepen relationships with new and existing customers beyond the point of purchase.
Conclusion
In the round, MassMutual Ventures, Hearst Ventures, Moneta VC, Viola FinTech, and Fort Ross Ventures were also participants.
The business raised money recently for the first time since securing a $23 million Series A in January 2020.
Insurify, a digital platform launched in 2013, enables customers to identify and evaluate the best coverage for their need.
Customers must answer a few questions about themselves and their needs in order for Insurify to present them.
With bindable quotations from different national and regional insurers that are tailored to their needs.
