Ennabl, a Greenwich, CT-based Insurtech data analytics platform, raised $8 million in Series A funding to accelerate the company's growth and expand its market reach.
The round was led by Brewer Lane Ventures, with participation from Altai Ventures and private investors.
The funds will be allocated toward product development, expanding the company's sales and marketing initiatives, and bolstering its team.
"Ennabl's mission is to provide cutting-edge solutions for insurance brokers and agencies to help them grow their book of business and simplify their existing processes," said Kabir Syed, CEO of Ennabl."We're thrilled to have Brewer Lane Ventures and our other investors on board as we continue to grow our platform and help brokers achieve their goals."
Ennabl's SaaS platform helps insurance brokerages and agencies to harness data to drive top-line growth. The company’s machine learning algorithms provide actionable intelligence for brokers to increase their commissions, find new customers, grow their book of business, and manage carrier strategy by extracting, cleaning, and enriching data from all of the broker's systems and processes.
Company: Ennabl, Inc.
Raised: $8.0M
Round: Series A
Funding Month: July 2023
Lead Investors: Brewer Lane Ventures
Additional Investors: Altai Ventures
Company Website: https://www.ennabl.com/
Software Category: SaaS Insurance Platform
About the Company: Founded in 2021, Ennabl provides brokers with a SaaS insurance platform to solve data, insights, and workflow challenges. Serving as an insurance platform, Ennabl is used by numerous brokers and agents to unify and manage their data. By utilizing the platform, brokers can minimize the time spent on data maintenance and allocate more attention to enhancing their clients' experience and their bottom line. The company has already garnered a customer base that includes several of the world's largest insurance brokers. Furthermore, Ennabl has formed strategic partnerships with prominent technology and service providers, including Reagan Consulting, NeuralMetrics, HazardHub, and Fenris Digital.
Source: https://www.prnewswire.com/news-releases/ennabl-raises-8m-in-series-a-fundraising-round-301885522.html