AXA Strategic Ventures Announces First US Investment
June 15 2015 - 12:58PM
Business Wire
– BROOKLYN-BASED COMPANY OFFERS AN ONLINE DESTINATION TO
RESEARCH, COMPARE AND BUY INSURANCE
AXA Strategic Ventures announced today its first investment in a
U.S. company – PolicyGenius. Founded in July 2014, PolicyGenius
offers an online platform for consumers to review coverage and
confidently research and compare quotes for term life, long-term
disability, renters and pet insurance.
“We launched AXA Strategic Ventures to invest in companies that
drive innovation in our industry, making it more digitally-enabled
and transparent,” said Manish Agarwal, General Partner of AXA
Strategic Ventures. “PolicyGenius perfectly reflects this
investment profile. The company’s tailored Insurance Checkup™ and
customer-friendly quote comparisons make shopping for and
purchasing insurance straightforward and accessible to a growing
client population.”
“We’re excited to work with AXA Strategic Ventures and our other
investors to capitalize on our growth and bring the insurance
industry into the 21st Century,” said Jennifer Fitzgerald, CEO of
PolicyGenius. “This financing will enable us to accelerate
PolicyGenius’ growth by strengthening its existing product lines,
refining individual insurance quoting engines and scaling its
marketing and production teams.”
About AXA Strategic Ventures
Launched in February 2015, AXA Strategic Ventures is a €200
million venture capital fund dedicated to emerging strategic
innovations in financial services. AXA Strategic Ventures invests
in start-ups via seed funding and also provides venture capital for
more established companies. The fund currently has
seven offices: San Francisco, New York, London, Paris, Zurich,
Berlin and Hong Kong.
Read more about AXA Strategic Ventures at
www.axastrategicventures.com. Find video interviews, biographies,
FAQs and media coverage in the AXA US Newsroom
on www.axa.com
About PolicyGenius
PolicyGenius, based in Brooklyn, NY, was founded in 2014 by two
former McKinsey consultants who saw a gap in the insurance industry
and dedicated themselves to shifting the industry online and into
the hands of the consumer. Through its highly tailored Insurance
Checkup™, users can discover their coverage gaps and review
solutions for their exact needs. The company provides the only
place online to shop for life, long-term disability, renters and
pet insurance through its highly accurate quoting engines that
offer side-by-side comparisons of tailored policies. For more
information visit www.policygenius.com
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version on businesswire.com: http://www.businesswire.com/news/home/20150615006171/en/
Media:AXA Strategic Ventures:Discretion Winter,
212-314-2968discretion.winter@axa.us.comorJosh Passman,
212-279-3115 x203jpassman@prosek.comorPolicyGenius:Andrea Collins,
415-309-4220andrea@policygenius.com
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