AXA Strategic Ventures announced its first investment in a US company – PolicyGenius.
Founded in July 2014, PolicyGenius offers an online platform for consumers to review coverage and confidently research and compare quotes for term life, long-term disability, renters and pet insurance.
"We launched AXA Strategic Ventures to invest in companies that drive innovation in our industry, making it more digitally-enabled and transparent," said Manish Agarwal, General Partner of AXA Strategic Ventures.
"PolicyGenius perfectly reflects this investment profile. The company’s tailored Insurance Checkup and customer-friendly quote comparisons make shopping for and purchasing insurance straightforward and accessible to a growing client population."
"We’re excited to work with AXA Strategic Ventures and our other investors to capitalize on our growth and bring the insurance industry into the 21st Century," said Jennifer Fitzgerald, CEO of PolicyGenius.
"This financing will enable us to accelerate PolicyGenius’ growth by strengthening its existing product lines, refining individual insurance quoting engines and scaling its marketing and production teams."
Launched in February 2015, AXA Strategic Ventures is a €200m venture capital fund dedicated to emerging strategic innovations in financial services.
AXA Strategic Ventures invests in start-ups via seed funding and also provides venture capital for more established companies. The fund currently has seven offices: San Francisco, New York, London, Paris, Zurich, Berlin and Hong Kong.