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:
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