Insurify raises $23 million

Insurance comparison site Insurify has raised $23 million in a Series A round led by MTECH Capital and VIOLA FinTech, with participation from existing investors MassMutual Ventures and Nationwide. Previously, Insurify has raised $6.6 million over two rounds.

Founded in 2013 and led by Snejina Zacharia, the Cambridge, MA-based company currently features auto, home and life insurance on its site.

Insurify, a team of 23 according to LinkedIn, claims that it deploys “the latest in artificial intelligence” to match consumers with quotes from insurance companies that fit their budget, needs, and personal profile. But, as you can see, the AI can use a little more intelligence – note the two spots for Mercury and the ad for NationalFamily.com, aka Assurance.

In terms of traffic, the company attracted an average of ~200k monthly visitors between October and December, with 61% of the visits originating from organic sources such as Google. For example, Insurify appears in Google’s first page organic results when searching for The General.

Bottom Line: In the space of EverQuote, The Zebra, QuoteWizard, and many others.