Wunderite raises $3 million

Boston-based provider of data exchange for commercial insurance Wunderite announced a $3 million seed funding round led by Spark Capital with participation from Boston Seed, John Wepler from MarshBerry, Scott Addis from Beyond Insurance, Brian Hetherington from The ABD Team, Ty Harris from Openly, Andrew Krantz from York International, Heffernan Insurance Brokers, Trustco Inc, and BrokerTech Ventures.  Wunderite also announced it has added Spark Capital’s General Partner Alex Finkelstein to its Board of Directors.

Founded in 2015, Wunderite’s annual subscription-based platform delivers an ‘intuitive’ workflow for independent agents, enabling them to better serve customers purchasing or renewing Property & Casualty insurance. The software captures and centralizes customer data to streamline the process of filling out insurance applications. Wunderite is available on mobile devices, enabling anywhere, anytime access. The solution was developed by an insurance industry veteran as a resource for brokers to reduce long application and approval cycles, improve the customer experience and address growing data security concerns.

“Having worked at my family’s insurance agency, I knew there was an enormous opportunity for agents to natively do business online. I leveraged my agency background and taught myself to code during business school to build a more delightful, efficient way for agents to connect with their customers. Wunderite shortens the application process, helping agents sell more deals. We are relentlessly focused on improving the customer experience.” – Peter MacDonald, founder and CEO of Wunderite.

“The days of selling insurance during a round of golf or over drinks are vanishing. Buyers want to be efficient with their time and only buy what they need. Wunderite is allowing agents to be more valuable partners to their customers by offering a streamlined, data-driven product that helps them clearly understand what their options are. Wunderite allows them to deliver that in a smart and attractive way for promising ROI.” – Alex Finkelstein, General Partner at Spark Capital.