GloveBox Receives $5.5 Million Series A Investment
Insurtech company to build out the next dimension of its client experience platform (CXP)
DENVER, CO – July 6, 2022 – GloveBox, the client experience platform for insurance agents and carriers, announced that it has raised $5.5 million in Series A funding led by Panoramic Ventures with follow-on participation from Heffernan Insurance Brokers and a top tier insurance carrier.
The Denver-based insurtech company will use the new funding to further build out GloveBox's technology which focuses on helping the independent insurance channel attract and retain customers more effectively and efficiently. The company's platform provides a branded self-service mobile and web app for policyholders, a reactive dashboard for agencies, and a robust system full of carrier and agency management system integrations. As the insurance industries only client experience platform, the digital experience is greatly enhanced between all three stakeholders: policyholder, agency, and carrier.
“We began this journey a few years ago with a clear goal of making the customer experience in the independent channel significantly better,” said Ryan Mathisen, CEO of GloveBox. “As former agency principals, our leadership team has lived firsthand the problems that are being solved by our platform. Seeing the impact GloveBox has already made for hundreds of agencies and hundreds of thousands of policyholders across the United States is what drives us to push the boundaries of our innovations. By developing technology with the policyholder top of mind, GloveBox has been able to shift the way the industry thinks about client experience. To us, it’s not just a buzzword but an absolute necessity to the channel’s future success. We will relentlessly pursue this initiative in partnership with our new and current investors.”
“GloveBox provides a centralized, agency-branded portal for paying bills, starting claims, accessing documents, making policy changes, and more—actions that typically have been time-consuming, confusing, and even frustrating for clients to navigate,” said Dan Drechsel, General Partner at Panoramic Ventures. “The technology makes the independent agent endlessly scalable, while also decreasing costs and increasing loyalty. We’re pleased to partner with GloveBox to help further develop its innovative customer-first technology and grow adoption within the insurtech space.”
Founded in 2019, Denver-based GloveBox simplifies insurance policy access for consumers by aggregating policy documents, regardless of carrier, in one centralized location. The founders are made up of former insurance professionals who helped build a smaller independent agency into one of the top producing agencies in the country. GloveBox is available at https://gloveboxapp.com
About Panoramic Ventures
Panoramic Ventures is a venture capital firm based in Atlanta that takes a "wider-view" approach to investing by targeting the Southeast and Midwest and placing a focus on diverse founders and university startups. Panoramic opens new doors for overlooked founders, giving more entrepreneurs access to capital to build leading tech companies. For more information, visit www.panoramic.vc or follow Panoramic Ventures on LinkedIn, Instagram, or Twitter @panoramicvc.