Fenris, a U.S.-based insurtech platform, announced on Wednesday it secured $2.7 million in new investment round, which was led by IDEA Fund Partners with participation from Six-Thirty VC, CIT GAP Funds, and Rezon8 Capital.
Founded in 2016, Fenris states its APIs deliver real-time insights na data payloads that enable customer acquisition and full life-cycle optimization.
“Our Lead Segmentation and Scoring APIs identify your best customer and ease their way to improve completion and conversion rates.Our LEMA (life events monitoring and alerts) APIs inform you to changes so you can take next best action for cross sell and retention. And our Data Enrichment APIs are staples providing instant prefill payloads for auto, home, life, and small business leveraging our proprietary data on 255 million adults, 130 million households, 30 million small businesses, and 99% of all properties.”
Jennifer Linton, CEO of Fenris, spoke about the company’s progress and latest investment round:
“Fenris has demonstrated its impact on increasing conversion rates and reducing manual entry for what has historically been a large frustration point driving up costs of acquisition. We thank each of our investors, whose support is helping us help our clients reinvent the customer journey from lead to quote to renewal.”
Fenris went on to add that the investment round’s funds will use to meet the growing demand from clients for its API-delivered insights and data, with a strong focus on expanding its sales and marketing resources.