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Wunderite Secures $3 Million Seed Funding to Modernize Software for Insurance AgentsWunderite, provider of an intuitive customer-facing platform for independent insurance agencies, today announced a $3 million seed funding round led by Spark Capital with participation from Boston Seed and leading insurance industry firms and their executives, including John Wepler from MarshBerry, Scott Addis from Beyond Insurance, Brian Hetherington from The ABD Team, Ty Harris from Openly, Andrew Krantz from York International, Heffernan Insurance Brokers, Trustco Inc, and BrokerTech Ventures. The new capital will fuel the company's rapid growth by accelerating product development and increasing distribution to agencies across the country. Wunderite also announced it has added Spark Capital's General Partner Alex Finkelstein to its Board of Directors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210428005263/en/ Wunderite Co-founders Peter MacDonald and Joe Schnare (Photo: Business Wire) Wunderite's annual subscription-based platform delivers an intuitive workflow for independent agents, enabling them to better serve customers purchasing or renewing Property & Casualty insurance. The software captures and centralizes customer data to streamline the process of filling out insurance applications. Wunderite is avaiable on mobile devices, enabling anywhere, anytime access. The solution was developed by an insurance industry veteran as a resource for brokers to reduce long application and approval cycles, improve the customer experience and address growing data security concerns. "Having worked at my family's insurance agency, I knew there was an enormous opportunity for agents to natively do business online. I leveraged my agency background and taught myself to code during business school to build a more delightful, efficient way for agents to connect with their customers," said Peter MacDonald, founder and CEO of Wunderite. "Wunderite shortens the application process, helping agents sell more deals. We are relentlessly focused on improving the customer experience."
Supporting Independent Agent Growth
"The days of selling insurance during a round of golf or over drinks are vanishing," said Alex Finkelstein, General Partner at Spark Capital. "Buyers want to be efficient with their time and only buy what they need. Wunderite is allowing agents to be more valuable partners to their customers by offering a streamlined, data-driven product that helps them clearly understand what their options are. Wunderite allows them to deliver that in a smart and attractive way for promising ROI."
First-Hand Knowledge of Industry Pain Points
Wunderite is headquartered in Boston, MA. With the new capital, the company anticipates it will double its team in the next 12 months, as it extends the platform's use to a broader network of insurance agencies.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210428005263/en/ |