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IPipeline Raises $15 Million

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An insurance technology company has poked a hole in the ice covering the credit markets and secured a new round of financing.

Internet Pipeline Inc., Exton, Pa., which does business as iPipeline, has received $15 million in funding from a group of investors led by NewSpring Capital, Radnor, Pa., and Fidelity Ventures, Boston.

IPipeline says it will use the money to buy small companies.

Earlier this money, iPipeline acquired AgencyWorks L.L.C., Salt Lake City, a company that develops insurance agency management systems.


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