26 October 2019, India:
Insurtech startup Young Alfred has raised $10 million in Series A round of funding. The funding round was led by Gradient Ventures. Pear Ventures, ERA, and Newfund Capital also participated in the funding round.
The startup will use the fresh funds to hire engineering, sales and business development talent, and scale its marketing efforts to bring the best in class home insurance shopping experience to both homeowners and partners.
David Stasie co-founder, Young Alfred, said, “We have received a lot of inbound demand from fintechs and large players in the real estate industry looking for a seamless online home insurance shopping solution, which does not currently exist in the market.”
Jason Christiansen, co-founder, Young Alfred, said, “With new resources that Gradient brings to the table, Young Alfred is on track to release a Stripe-like API for partners looking to add P&C to their suite of consumer product offerings. We’re on a mission to unlock access to home insurance for everyone in America.”
Zach Bratun-Glennon, Partner at Gradient Ventures, who will be joining Young Alfred’s board, said, “Young Alfred matches consumers to the insurance best-suited to their personal needs in minutes. Utilizing data, integrations and machine learning, the company optimizes the customer experience and finds the best result.”
Zach Bratun-Glennon, added, “This fits with insurance carriers’ goals because each carrier has different priorities for the policies and risks that they want to underwrite.”
Young Alfred was founded by Jason Christiansen and David Stasie. It uses data to match consumers to the best coverage options and allows them to buy without having to pick up the phone.
(Source – Young Alfred)