Matic Insurance Services, a top insurance tech platform, just raised $30 million from Vistara Growth. This investment firm specializes in flexible growth capital for software and technology companies. Matic provides an embedded insurance platform, helping mortgage servicers, banks, and financial institutions offer home, auto, and personal insurance products seamlessly to their customers.
The Matic platform allows its partners to present competitive insurance options to customers within seconds and complete purchases in minutes. Since launching in 2017, Matic has partnered with over 100 organizations, now covering 20% of the U.S. mortgage market. Their marketplace features more than 60 insurance carriers, providing choices nationwide.
The funding will help Matic expand its distribution partnerships, enhance its proprietary technology, and improve customer experiences. The management team, with extensive backgrounds in insurance and finance, has built a strong operational model that focuses on creating a superior shopping experience within their partner environments.
KEY QUOTES:
“Matic’s platform naturally supports partners looking to give their customers a clear and efficient experience while opening new revenue opportunities. With this investment, the company can grow its share in the personal insurance market through its unique technology and distribution approach.”
– Neil Kenley, Principal at Vistara Growth
“We’re excited to work with Vistara Growth, whose expertise in technology-driven companies is a great fit for Matic as we grow. Their investment will help us reach more people, improve our technology, and strengthen ties with financial institutions and insurance providers. We believe insurance should be easy, clear, and integrated into the customer journey. With Vistara’s support, we aim to lead in embedded insurance solutions and bring more value to our partners and their customers.”
– Stuart Rhodes, CFO at Matic
Source link
Matic
