GloveBox, a U.S.-based insurtech platform, has raised $3 million through its latest investment round, which was led by Mercato Partner’s Prelude Fund with participation from Heffernan Insurance Brokers.
Founded in 2019 and launched in 2020, GloveBox describes itself as a centralized mobile and web application allowing insurance policy holders to access their policy documents, pay a bill, initiate a claim and so much more regardless of which carrier their policies are written with.
“GloveBox enables customers to access all policy documents directly from their insurance carrier, pay a bill and initiate a claim through its easy-to-use mobile and web application. As the platform evolves, GloveBox will become the premier customer-interfacing solution for independent agents to leverage with all of their policyholders, at any stage in the insurance lifecycle.”
Speaking about the investment, Ryan Mathisen, Co-Founder and CEO of GloveBox, stated:
“As former insurance executives, we know the issues facing smaller, independent carriers, including the lack of technology at their disposal. With this funding, we will dramatically expand and accelerate our platform development reaching more agency partners faster and more efficiently. GloveBox is changing the way that policyholders interface with the independent channel and this is only the beginning for us.”
GloveBox went onto add that the investment round’s funds will be used to expand its features and enhance product functionality.
