Gabi operates as a tech-enabled broker that lets consumers upload existing home and auto insurance policies and finds cheaper alternatives with similar coverage. The company earns commissions when customers buy new policies and again on renewals, creating recurring revenue tied to retention. Gabi says its unit economics are strong, reporting reasonable customer acquisition costs and high enough lifetime value based on retention, though it declined to share specific growth metrics. It partners with venture-backed insurers including Root Insurance and Lemonade and competes with startups like Insurify. Gabi plans to use the $27M Series B to rapidly expand its product, engineering, and marketing teams. The company has raised $39.1M in known capital to date. Gabi offers car and home owners a platform that tracks insurance policies, compares plans from a few dozen companies, and notifies users at renewal when cheaper equivalent coverage is available. The startup’s goal is to prevent consumers from overpaying as rates or personal circumstances change. Gabi says it finds average auto insurance savings of $460 for customers and estimates consumers overpay about $50 billion in insurance premiums per year. The company collects user behavior data to better target offers and build defensibility against competitors. Founder Hanno Fichtner said the team may eventually consider providing insurance itself using that data, though the immediate challenge is building integrations with insurance providers. The product competes with other policy-comparison startups such as PolicyGenius. Gabi is a licensed insurance-agent startup that scans users' existing car and home insurance policies via a mobile app to find cheaper or better coverage. Users enter login credentials so Gabi can review current policies and recommend comparable plans without requiring them to fill out lengthy forms. Unlike typical lead-gen comparison sites, Gabi aims to be a long-term partner and earns annual commissions on policies it helps underwrite. Founder and CEO Hanno Fichtner says building the technology was difficult due to the absence of a standardized insurance API similar to Plaid or Yodlee. The company has raised $2.6 million in seed funding and is currently active in California. Gabi will use the funding to expand availability into other markets.

Total raised

$39M

Funding rounds

3

Latest round

Series B

Latest activity

Jan 2020