GloveBox raises $5.5 million
GloveBox, the Denver-based insurance startup offering an app that simplifies insurance policy access for consumers, 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.
Founded in 2019, GloveBox is after independent agents with a branded self-service mobile and web app for their customers. The app aggregates policy documents regardless of carrier and it gives policyholders additional features such as requesting service and quotes.
GloveBox has documented its Series A journey.
“We began this journey a few years ago with a clear goal of making the customer experience in the independent channel significantly better. 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.” – Ryan Mathisen, CEO of GloveBox.
“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. 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.” – Dan Drechsel, general partner at Panoramic Ventures.