Better Agency Raises $8 Million in Series A Financing
The Industry's First Agency Success Platform is set to transform legacy insurance technology.
PHOENIX, May 2, 2022 (Newswire.com) - Better Agency, the agency success platform for insurance agents, announced today that they raised $8m in a Series A round, led by Teamworthy Ventures. There was additional participation from ManchesterStory Group, PHX Venture Partners, and Crystal Venture Partners.
Better Agency's latest capital raise brings its total funding to over $10 million. The new capital will allow Better Agency to develop a new industry category, while tripling down on its growth, and expanding its platform capabilities to meet its vision as the first Agency Success Platform for insurance agents.
One recent online review said this: "Great software. It does wonders for my insurance agency. It's an all in one system that every insurance agency should use!!"
"We believe in the independent insurance agency model. No one will invest more time, capital, or resources into independent agents and agency success than us," said Better Agency CEO Will Shaw.
"Agencies can't grow on scattered tech stacks or legacy platforms, especially in a hybrid or remote world," Shaw said. "Our dream of a single, unified platform allows independent agents to quote, bind, and issue insurance at scale. Allowing them to better communicate with their clients, and spend more time building relationships, not managing administrative tasks."
Shaw later went on to say, "We are excited to partner with Teamworthy Ventures because they are leaders in vertical SAAS and have a lot of experience with helping companies bring full-scale solutions to the market. We chose to work with Manchester Story Group because they have deep expertise in insurance. They also have relationships with the top insurance carriers and independent brokerages in the country."
Insurance agents are already using Better Agency to automate processes, sell more insurance policies and retain more customers at renewal.
"We love this software!!! This group of individuals is definitely changing the game in how insurance is supposed to be done," said a recent Better Agency user here
Stephen Schmalhofer, co-founder and partner at Teamworthy Ventures has been part of many successful companies and believes Better Agency is poised to transform the insurance industry.
"At Teamworthy Ventures, we have been fortunate to partner with several outstanding vertical SaaS teams, including Toast, Teamworks, OpenGov, Slice, Affinity, CampusLogic, and more. Now we are excited to partner with CEO Will Shaw, cofounders Jordan Hatch and Nicholas Ayers and the entire talented Better Agency team.
"Before Teamworthy, I was fortunate to get my career started in the insurance industry where I met some of the smartest professionals and hardest working business owners in America. After speaking with many happy customers, we discovered that Better Agency is the best all-in-one platform to help independent insurance agents grow their agency, serve their clients better and faster, and achieve maximum agency success.
"With Better Agency, Teamworthy Ventures is also excited to lead our first investment in Phoenix, Arizona, and look forward to partnering with more Arizona entrepreneurs in the future."
"It's obvious that Better Agency is changing the industry," said Jonathan Crystal from Crystal Venture Partners. "Their dedication to helping independent insurance agents grow by giving them the tools they need to compete in a modern world is going to help agents sell more policies and earn more revenue."
Gregg Scoresby, of PHX Ventures, who led Better Agency's previous seed round, has seen, firsthand, the impact Better Agency is having on the insurance industry. "Better Agency is yet another high-growth, category-defining SaaS company being built here in Arizona. Over the next decade, I believe Better Agency will put more time, energy, and capital toward helping independent insurance agencies succeed than any other organization."
About Better Agency
Better Agency is an agency success platform that uses automation to help insurance agents sell more policies, retain more customers at renewal and handle the service and claims processes inside an agency. https://betteragency.io/ To contact Better Agency by email: Sales@betteragency.io
About Teamworthy Ventures
Teamworthy Ventures is a venture investment firm focused on partnering with outstanding entrepreneurial teams to build companies of enduring purpose, integrity, and value. Teamworthy invests in outstanding teams at the seed, early, and growth stages. Select Teamworthy portfolio companies include Toast, G2, Capsule, SeatGeek, Ibotta, Slice, Typeform, Teamworks, Lithic, OpenGov, and more. Teamworthy Ventures was co-founded by partners Thomas D. Lehrman, Evan Kaye, and Stephen Schmalhofer.
About ManchesterStory Group
ManchesterStory is a venture capital firm partnering with market-leading companies in the InsurTech, FinTech and Healthcare Sectors. Decades of experience with high-growth companies means ManchesterStory has significant expertise identifying exceptional management teams with the vision and capacity to identify major problems and effectively scale their business, and we regularly invest with teams that have achieved early revenue generation.
Source: Better Agency