Broker Buddha raises $4.5M

Broker Buddha , the NY-based startup on a mission to simplify the commercial insurance application and renewal process, has raised a $4.5 million funding round led by Vertex Ventures.

Broker Buddha’s platform automates agency operations, “turning tedious paperwork into an efficient digital process.” The startup’s online submission platform converts static PDF insurance applications into “interactive online smart forms.” New prospects can quickly complete applications online through the agency website, while returning clients can update forms pre-filled with the prior year’s info, and sign electronically online.

Since launching, Broker Buddha has gained “significant traction among top-tier commercial insurance agencies” like Brown & Brown and AssuredPartners. The new capital will help the company expand its offering, grow the team and increase marketing efforts.

“The product transforms an outdated way of doing business that has long been frustrating and slow-moving for brokers and their clients. It frees up valuable time so agents can focus on what they love doing – taking care of their clients.” – Broker Buddha CEO, Jason Keck.

“Broker Buddha’s product provides a crisp, modern interface driving massive efficiency gains for the client, broker and underwriter. By relieving some of the tedium, they enable more of the white-glove, customized service business owners need and love. We’re excited to partner with a company driving such significant industry change.” – Vertex Ventures Partner Sandeep Bhadra.