Newfront offers a software-driven platform that modernizes insurance, retirement solutions, and employee benefits by replacing legacy paperwork and systems with an integrated system of action. The company partners with insurance professionals and leverages their client relationships—estimated to account for 98% of the market—to distribute its platform. Newfront automates workflows and processes to boost productivity for insurance and benefits professionals, which the company says has driven average book growth at roughly 2x the industry average. The platform also reduces the cost to serve and significantly lowers operating costs as a percentage of transacted revenue. Newfront positions its business model to grow as new insurance professionals join the platform, existing professionals increase sales productivity, and profitability improves with scale. The company has been recognized by the Fintech Breakthrough Awards (2022) and was listed on the Forbes Fintech 50 in 2021. Newfront is a San Francisco-based commercial insurance broker founded in 2017 that combines software and insurance experts to modernize the brokerage model. The company says it has rebuilt the brokerage workflow to deliver more transparency, efficiency, and data-driven risk management to clients. Newfront attributes rapid growth to a team blending insurance-industry experience from firms like Alliant, HUB, and Lockton with technology-industry experience from companies such as Uber, LinkedIn, and Intuit. Leadership additions include Garth Hamilton, former Chief Sales Officer at HUB International, who joined citing Newfront’s team and vision. The company reports it has built a strong and thriving business over the past three years and has invested in an internal platform to resolve operational challenges of a technology-driven brokerage. Management says it is looking toward significant and sustained growth over the next eight quarters; the company recently completed a financing that values it at $500 million.

Total raised

$108M

Funding rounds

2

Latest round

Series D

Latest activity

May 2022