Participated · Series B · Oct 2023

Veruna is an Austin, TX–based provider of an agency management system natively designed on Salesforce’s CRM platform. The platform offers predictive analytics, no-code configurability, and a Customer360 solution intended to elevate revenue, efficiency, and customer experience. Led by CEO Jennifer Carroll, Veruna targets both agent-assisted and straight-through digital processing workflows. The company plans to launch new predictive analytics features and expand its global footprint. With the Series B funding, Veruna intends to accelerate product development and growth across engineering, sales, marketing, and customer success. Veruna is a Hopkinton, MA-based developer of an agency management system (AMS) built on the Salesforce/Force.com platform. Founded in 2015 and led by CEO Jennifer Carroll, the company provides configurable AMS tools for insurance agencies and MGAs to capture unique value propositions and integrate with numerous solutions. Its product creates automated tasks and reminders for managing customer relationships, remarketing lost business, and expanding coverages. The platform supports workflows for quoting, binding, submissions, and accounting. Veruna raised $6M in new equity financing and plans to use the funds for ongoing product improvement efforts. Planned enhancements will focus on additional new-business workflows and capabilities for agents and brokers. Veruna offers a cloud-based agency management system built on Salesforce that targets independent insurance agents and replaces legacy management systems. The product includes a full suite of functionality and a refined, seamless onboarding path developed over the past 24 months. The company has focused recent efforts on building a best-of-breed system and preparing for faster growth. Veruna plans to use new funding to build brand awareness, drive new sales, and expand operations. Management anticipates doubling its client base over the next year as it scales. The company was founded in 2015 and is based in Hopkinton, Mass., described as Boston-based in the announcement.

Participated · Series A · Jun 2020

AgencyKPI builds an integrated business intelligence platform (Harmony) to address and manage insurance-industry data across agencies, carriers, brokers and networks. The core product harmonizes disparate data to drive transparency, efficiency and improved performance for insurance partners. The company plans to use its Series B funding to hire software developers, data scientists and other personnel to accelerate development of cloud-based software. AgencyKPI positions its platform to help independent agencies, carriers, brokers and networks better assess data and remain nimble and profitable. In the first quarter of 2022 the company added partnerships that increased written premium on its Harmony platform to more than $29 billion. AgencyKPI emerged from stealth in 2019 after raising $3 million in seed- and strategic-round funding from insurance networks, carriers, independent agencies and industry executives. AgencyKPI develops a business intelligence platform (Harmony) designed to harmonize data produced by multiple software programs and legacy systems across the insurance industry. The company launched Harmony in 2019 to address mass data fragmentation and unify sources so networks can monitor performance; the platform today handles $15.8 billion in written premium from more than 8,800 affiliated agencies. Founded in 2017 by Trent Richmond and Bobby Billman, AgencyKPI emerged from stealth in 2019 after raising $3 million in seed and strategic funding from insurance networks, carriers, independent agencies and industry executives. The company plans to use its new funding to hire additional software developers and data scientists and to accelerate development of additional business intelligence platforms. AgencyKPI positions its products to deepen collaboration and understanding between carriers, networks, independent agencies and wholesalers rather than pursue disruptive approaches.