ThreeFlow raises $45 million

ThreeFlow, which provides software to insurance brokers selling employee benefits, has raised $45 million in Series B funding. The round was led by Accel, with participation from existing investors at Emergence Capital, Equal Ventures, and First Trust Capital Partners.

The Chicago-based company, formerly known as WatchTower, serves around 7,600 employer clients and has over 40 carrier partners.

“The benefits market faces a ‘many-to-many problem,’ as brokers work with many employers on one side, and many insurance carriers on the other. ThreeFlow’s Benefits Placement System has become the central collaboration hub for this industry.” – Nate Niparko, partner, Accel