Young Alfred will use the new capital to grow its team
Young Alfred, a home insurance shopping platform, has secured a $10 million funding which it will use to scale its talent and marketing initiatives.
The company, which provides insurance data that highlights the fine print under each policy form, aims to help homeowners compare and purchase insurance coverage online. Young Alfred is licensed in all 50 states and has direct partnerships with over 30 insurance carriers.
“Young Alfred matches consumers to the insurance best-suited to their personal needs in minutes. Utilizing data, integrations and machine learning, the company optimizes the customer experience and finds the best results,” said Zach Bratun-Glennon, partner at Gradient Ventures. “This fits with insurance carriers’ goals because each carrier has different priorities for the policies and risks that they want to underwrite.”
With the new funding, Young Alfred said it would amp up its marketing efforts and recruit additional engineering, sales, and business development employees.
Google's AI-focused venture fund, Gradient Ventures, led the funding round. Other seed investors, including Pear Ventures, ERA, and NewFund Capital also participated in the round.
“With new resources that Gradient brings to the table, Young Alfred is on track to release a Stripe-like API for partners looking to add P&C to their suite of consumer product offerings. We’re on a mission to unlock access to home insurance for everyone in America,” Young Alfred co-founder Jason Christiansen said.
