(Image source: Better Agency.)
Better Agency (Phoenix), creator of a management platform for insurance agents, has announced Series A financing of $8 million led by Teamworthy Ventures (Greenwich, Conn.). ManchesterStory Group (Des Moines) also participated in the round. This capital raise brings Better Agency’s total funding to over $10 million. Better Agency says the new capital will allow it develop a new industry category, while focusing on growth,and expanding its platform capabilities to meet its vision as the first “Agency Success Platform” for insurance agents.
“We believe in the independent insurance agency model,” comments Will Shaw, CEO, Better Agency. “No one will invest more time, capital, or resources into independent agents and agency success than us. Agencies can’t grow on scattered tech stacks or legacy platforms, especially in a hybrid or remote world. 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.”
“At Teamworthy Ventures, we have been fortunate to partner with several outstanding vertical SaaS teams, including Toast, Teamworks, OpenGov, Slice, Affinity, CampusLogic, and more,” notes Stephen Schmalhofer, Partner, Teamworthy Ventures. “Now we are excited to partner with CEO Will Shaw, cofounders Jordan Hatch and Nicholas Ayers and the entire talented Better Agency team.”
Best All-in-One Platform
“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, Schmalhofer adds. “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.”
“Better Agency is yet another high-growth, category-defining SaaS company being built here in Arizona,” comments Greg Scoreseby, founder and management partner of PHX Ventures, which led Better Agency’s previous seed round. “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.”