Ladder Secures $30M Series B Led by RRE Ventures
CA-based life insurance MGA Ladder announced it has raised $30M in a Series B round led by RRE Ventures, with participation from Thomvest Ventures, as well as Ladder’s existing investors: Canaan Partners, Lightspeed Venture Partners and Nyca Partners . Ladder launched its fully-digital life insurance solution in California on January 10, 2017, and has since expanded to nearly every state across the country.
Also, the company recently announced it will make its digital life insurance offering available to partners via the Ladder API, with the following four functionalities:
1. Quote. Users can get quick quote to see a ballpark estimate of what life insurance will cost.
2. Calculator. Users can quickly and easily estimate their life insurance needs.
3. Application Connector. Users can access a smooth quote-to-application flow and will get an instant decision when they submit their application.
4. Account Manager. Users can view and manage their policy over time.
BTW, Ladder also offers a quote widget, a drop-in module that provides users with the ability to get a quick quote within a pre-designed user interface. The widget handles input validation and error handling as well.
“One year ago today, we set out to reinvent life insurance, and I could not be more proud of what our team has accomplished. That said, we’re just getting started. We will continue to lead innovation in life insurance so more people can get the coverage they want and need” – Jamie Hale, Ladder’s CEO and cofounder.
Bottom Line: $44M in total funding.
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“We’re proud to be extending our reinsurance relationships through a new partnership with PartnerRe. True innovation in life insurance must happen on all fronts — great risk, great pricing, great customer experience. We’re thrilled about the things we can achieve in working together.” -CEO of Ladder, Jaime Hale.