Digital Insurance Agency Matic Secures $24 Million Through Latest Investment Round Led By IA Capital

 

Matic, a U.S.-based digital insurance agency, recently announced it secured $24 million through its latest investment round, which was led by IA Capital with participation from Cultivation Capital, Clocktower Technology Ventures, MTech Capital, The K Fund, Protection America, Nationwide Ventures, Anthemis Group, ManchesterStory, Franklin Madison, and Fenway Summer.

Founded in 2014, Matic describes itself as a technology-driven insurance agency that is focused on helping lenders and loan officers better integrate homeowner’s insurance into the lending process.

By using loan application information and first-of-its-kind technology, Matic provides homebuyers multiple policy options within seconds, helping loan officers close their loans faster. Matic delivers the most trusted, affordable insurance policies available thanks to its partnerships with a diverse network of insurance carriers.”

Speaking about the investment, Matic CEO, Ben Madick, stated:

I am excited to have our new investors on board and for our existing investors to continue to support our mission of simplifying insurance. I am thrilled to have Andrew Lerner join our board of directors, bringing 25 years of financial services and insurance industry experience to our team of over 150.”

Matic added that the new funding will support the growth of Matic’s partnerships and integrations with insurance carriers and distribution partners across emerging channels and verticals.

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