Insurtech AgentSync reaches $220m valuation with new funding round

AgentSync, the insurtech dedicated to modernizing the tools and infrastructure around the insurance industry, has secured a $25 million Series A round of funding.

AgentSync will use the funds to accelerate product development as the company builds its producer management solution. The round was co-led by Elad Gil and David Sacks' Craft Ventures, with participation from Marc Benioff, Caffeinated Capital, Operator Collective, and Nine Four Ventures.

This brings the company's valuation to $220 million, ten times higher than when the company raised its seed funding in mid-2020.

AgentSync is tackling one of the biggest barriers to growth and innovation in the fragmented, complex insurance ecosystem – how brokers and insurers connect.

"I'm attracted to companies demonstrating the potential to transform back-office operations for massive industries, and AgentSync is doing exactly that," said Gil, investor, entrepreneur, and operating executive. "By tackling one of the most tedious, manual processes plaguing the insurance industry today, AgentSync is creating efficiencies for the entire market."

AgentSync Manage, the company's first product, uses automation and technology to make producer management and licensing compliance easier for clients.

"It's rare to see a product like AgentSync that so clearly impacts revenue and has no competition," said Sacks, co-founder and general partner of Craft Ventures. "Automating licensing and compliance is just the first step of AgentSync's ambitious road map. We see an opportunity for the company to expand vertically by adding certifications, recruiting, and territory management and to expand horizontally to serve any industry that requires certifications."

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