Veruna raises $6 million

Veruna , a Salesforce-based agency management platform, announced a $6 million equity round funding led by Keystone Insurer’s Group (Keystone) and EMC Insurance (EMC).

Founded in 2015, the team of ~26 offers a cloud-based agency management system built on Salesforce that targets independent agents. Product features include a full suite of functionality that replaces existing legacy management systems and guides agencies on to a more modern platform. This new funding will support Veruna’s ongoing product improvement efforts which will focus on additional new business workflows and capabilities for agents and brokers looking to sell more. Improvements are also planned around quoting, binding, and submissions, with expanded accounting improvements as well.

“Since our first investment in 2016, Keystone has viewed Veruna as the ‘future of the agency management system. Keystone is committed to financially back Veruna not only with this most recent round of capitalization, but into the future, ensuring Veruna’s business direction and velocity remain unaltered and that Veruna is never a victim of the ‘capture & kill’ philosophy that has taken so many competitors out of the AMS space over the years.” – David E. Boedker, president and CEO of Keystone.

“This additional investment by our long-time supporters is a tremendous vote of confidence in Veruna. The traction and customer success we have already gained in the marketplace, as well as the product milestones to date, differentiate Veruna from legacy competitors who are starting to feel the pressure our constant innovation creates. We are thankful to have so many dedicated champions throughout the industry.” – Jennifer Carroll, CEO of Veruna.

As part of the long-range planning behind the funding round, Phil Lucca, chief field officer of EMC, will be joining the Veruna board of directors.