Talage Secures $9M Venture Funding in Round led by Merus Capital

The financing will be used to broaden the commercial insurance distribution technology firm’s reach and help it become the go-to partner for carriers, agents, and wholesalers.

(Image source: Talage homepage.)

Talage, a Reno, Nev.-based provider of digital distribution software solutions for commercial insurance, has announced $9 million in new venture funding. The round was led by Merus Capital (Palo Alto, Calif.), with participation by Calibrate Ventures, Hallador Financial, Advantage Capital, and Reno Seed Fund. The financing will broaden the Talage reach, increase brand awareness and help it become the go-to partner for carriers, agents, and wholesalers that adopt its tools in the commercial insurance industry.

Salman Ullah, Partner, Merus Capital.

Talage describes its offering as a digital distribution platform for the commercial property/casualty insurance industry that automates traditionally manual processes, such as applications or submissions. The solution provides the ability to quickly and easily equip agencies, wholesale brokers and other carrier partners with the digital tools to support automation and growth in the small business segment, according to a vendor statement

Over the past 12 months, Talage says that demand has prompted the company to add the ability to quote additional lines of coverage such as professional liability and cyber insurance and deliver industry-first tools to simplify renewals, book rolls, and cross-sell opportunities. With access to more than 30 API-enabled products for insurance that dramatically reduce quote times, Talage says it has turned what was an arduous, weeks-long process for agents, into a near-instantaneous turnaround. Agents and brokers can now quickly generate quotes for customers while automating that process through digital platforms and extending their reach and book of business, according to the vendor.

“Talage is at the forefront of the digitization of the insurance industry and is becoming a critical part of the industry’s foundational technology stack,” comments Salman Ullah, Partner, Merus Capital. “The team has the experience and technical know-how to address a huge market opportunity. We’re excited to partner with them on this journey.”

Optimizing a Historically Costly, Manual Process

Adam Kiefer, CEO, Talage.

“The new funding underscores how much the industry believes in our mission, and that the Talage platform is the key to digitizing and optimizing what has been a very analog, manual, time-consuming, and costly process,” comments Adam Kiefer, CEO, and Co-founder, Talage. “We’re grateful to Merus Capital and our existing investors for their partnership and continued belief in our mission, and we’re excited to deploy these new resources into the areas of our business that will continue to bring value to the entire business insurance ecosystem.”

Founded in 2015, Talage reports that it has been on a fast growth path, and over the past two years, the company has seen a spike in demand for its technology. The small business insurance ecosystem has rushed to adopt innovations that enable carriers, agents, and wholesalers to generate more business with greater efficiency and profitability than traditionally relied-upon manual processes. Talage describes its platform as powering the online purchase of workers’ compensation, liability, and property insurance by small businesses in all 50 states through carrier partners, including Acuity, Coterie Insurance, Hiscox, Liberty Mutual, and Travelers.

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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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