Insurance Zebra raises $1.5M seed round from high profile investors Floodgate, Mark Cuban, and Silverton Partners
AUSTIN, Texas, Jan. 31, 2013 /PRNewswire/ -- Insurance Zebra, the online insurance comparison platform, has announced their initial seed round led by Silverton Partners. The investor syndicate also includes Mark Cuban, Mike Maples Jr., and Birchmere Labs among others.
"We are extremely pleased with the investment team we have assembled," says CEO and Founder Adam Lyons, "Insurance Zebra is a company built to de-mystify the insurance landscape. The participation from such successful investors is a testament to our unique approach to simplify the insurance shopping experience."
Syndicate members have invested in well-known companies such as Twitter, ShowClix, BazaarVoice, Weebly, and Digg.
Insurance Zebra caught investors' attention after their product presentation at AlphaLab, the Pittsburgh-based startup accelerator in Spring 2012. Since then, Insurance Zebra has been adding key industry partnerships and preparing to launch.
Insurance companies will spend nearly $6B in 2013 to win new business from their competitors. "The insurance industry is ripe for disruption, and Insurance Zebra has a great opportunity to lead the charge. I'm excited to be part of it," says Mark Cuban.
A recent study by J.D. Power indicates 52% percent of auto insurance shoppers start their shopping process online. "Adam and his team are solving a real problem everyone has experienced - the lack of transparency in insurance rates online. We are very excited to partner in building this valuable business by solving this pain for consumers," says Sean Ammirati, Partner at Birchmere Labs.
The company plans on using the capital to expand the team and launch the first version of their comparison engine.
About Insurance Zebra
Insurance Zebra is a comparison platform for the insurance industry. Founded in 2012, IZ aims to bring simplicity to the insurance shopping experience through superior comparison products, a breadth of carrier partnerships, and innovative filtering options. Insurance premiums are adjusted in real-time as users input their information, helping to clarify what and how factors affect their rate.
To learn more about Insurance Zebra, please contact:
SOURCE Insurance Zebra