American Growth Insurance launches with $70 million
American Growth Insurance has launched with $70 million in committed equity funding from venture studio Atomic and private equity firm Rockbridge Growth Equity.
The new insurance brokerage plans to acquire independent agencies and provide them with internally developed technology and operational support. Its strategy is to build a national platform of regional brokerages while allowing partner agencies to retain their local identities and client relationships.
American Growth Insurance completed its first agency partnership in the Mid-Atlantic region in May. According to SiliconANGLE, the company expects to complete several more acquisitions in the coming months and is targeting $10 million in annual revenue by the end of 2026.
The company is led by CEO Brian Morgan, who previously held leadership roles at Keystone Agency Partners, Integro Insurance Brokers, The Plexus Groupe, Willis and Marsh. Kimba Pajares, formerly of Epic Insurance Brokers and The Plexus Groupe, serves as chief operating officer.