Gravie Picks Up $14M in Series C

Minneapolis-based Gravie announced it has raised $14.1M in a Series C round bringing its total funding to date to $40.7M. The startup, which was established in 2013 and has previously secured an investment from Securian Financial Group, is planning to put the fresh round of funding toward marketing and product development as it prepares for the upcoming open enrollment season. Also, the business generates revenue through broker commissions, but the Gravie employees who advise clients on plan options are paid a salary. Recall: in 2016, the company cut 25% of its staff citing bad market conditions, and announced its plans to enter the life insurance space – it isn’t clear if that actually happened.

Recall 2017 insurance-related investments here.