Veruna Secures $6M Series A Funding to Fuel Next Stage of Growth

The round, which included participation from two prominent insurers, will springboard from 24 months of building out its system and refining a seamless onboarding path for agencies.

(Image source: Veruna homepage.)

Veruna, a Boston-based InsurTech developer of the Salesforce-based agency management platform, has announced the completion of a $6M Series A funding round. The round included participation from two prominent insurance carriers that the company declined to mention by name.

Bob Scullin, CEO, Veruna.

Founded in 2015, Veruna offers a cloud-based agency management system built on Salesforce that targets independent agents. Product features include what the vendor describes as a full suite of functionality that replaces existing legacy management systems and guides agencies on to a more modern platform. The company reports that it has focused the past 24 months on building out its best-of-breed system and refining a seamless onboarding path for agencies in preparation for faster growth. Veruna says that the new funds raised by the Series A round will be used to fuel the next stage of expansion for the company.

Foundation for Next Phase

“We are excited for the next chapter for Veruna,” comments Bob Scullin, CEO, Veruna. “The work we have completed over the past year or so has set the foundation for our next phase, which includes building brand awareness to drive new sales and expanding operations as we anticipate doubling our client base over the next year.”

Bridging the gap between CIO and CFO

 

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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