AgencyMVP, an online platform that identifies prospects for property/casualty insurance agencies, has received $3.5 million in seed funding from Silverton Partners.
The firm has also added to its leadership team.
With this fundraising round, AgencyMVP said it will invest in technology, marketing and sales to bring its proprietary algorithms to agencies nationwide.
AgencyMVP joins the Silverton Partners insurance technology portfolio alongside such companies as The Zebra, Life By Spot, Sourceday and The Helper Bees.
AgencyMVP promises to help insurance agents “close the right leads at the right time.” The platform uses machine learning to enhance underwriting data that insurance agents gather from leads and prospects every day. The technology helps agencies predictive their Most Valuable Prospects and determine when their customers are ready to buy insurance from them.
The company has a new chief executive officer. He is Jason Luce, whose resume includes helping to take Rackspace public and selling the cybersecurity company he founded, ScaleFT, to Okta in 2018.
“AgencyMVP is determined to make this market more efficient with modern software. With AgencyMVP’s maniacal focus on customer success, and it’s tech-forward mindset, we’re creating a new paradigm — agencies that use our platform will see great returns. It’s inevitable, and it’s being proven everyday. Our customers are fanatical given our results to date. I’m excited to continue building this company into something that will be talked about for years,” said Luce.
Blake Mizerany has been hired as chief technology officer. He was the first engineer at Heroku, which was acquired by Salesforce in 2010. Before joining AgencyMVP, Mizerany was the chief architect at GRAX where he designed and architected the foundation GRAX uses to extract, store, restore, and transform Salesforce data for many of Salesforce’s largest customers.
AgencyMVP uses machine learning to rank households based on a variety of insurance-specific data points that determine a prospect’s value, identify when a consumer will purchase property/casualty insurance, and predict the right time to contact the prospect for a quote.
The founder of AgencyMVP, Todd McLain, began using this technology when he was a Farmers agent and says he became a nationally-ranked top agent in less than two years. Since then, the technology has helped captive and independent agents cut the number of calls needed to land a new client.
“As the founder of AgencyMVP it is wonderful to take the company to the next level, both from fundraising and leadership. I have seen the technology work wonders for so many agents, and by bringing together the right people we will forever change the way insurance is sold,” said McLain, who serves as president and chief product officer.
Source: Agency MVP
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