Talage raises $5 million
Talage , the “SaaS-based digital insurance platform,” announced that it has closed $5 million in Series A funding led by Merus Capital, with participation from Calibrate Ventures, WTI and Hallador Investment Advisors. All are existing investors, with the exception of Calibrate Ventures. The new funds will be used to scale the company’s engineering and business development teams, as “customer demand continues to grow.”
Founded in 2015 by Adam Kiefer, Matt Donovan and Zachary Draper, Talage’s platform allows small business owners to purchase commercial coverage from agents online. The SaaS-based software streamlines the manual task of selling coverage, enabling “significant cost and time savings” for insurance agents. The Talage platform is now live across the country, and over $1 million in insurance coverage to businesses in over 40 states has been sold.
“Our partnerships with top-rated insurance carriers and agents have enabled us to grow significantly within the last few years. We’re thrilled to partner with Merus and other top venture capital firms as we enter the next phase of the business, with further growth of our technical and business development teams. The new funding will enable us to bring our SaaS solution to even more customers, continuing to innovate the way small businesses buy insurance.” – Adam Kiefer, co-founder and CEO at Talage.
“Adam, Matt and Zachary recognized early on that players in the insurance value chain need to invest heavily in modern technology platforms in order to maximize the yield of their digital distribution channels, particularly when serving the small business segment. We’re excited to partner with Talage – an exceptional team going after a large market with a technology solution that will change the basis of competition in the insurance industry.” – Peter Hsing, co-founder and managing director at Merus Capital.