A Goldman Sachs fund and other investors have provided $22 million in financing for an insurtech startup, Unqork Inc.
Unqork reported today that the investor group also includes Broadridge Financial Solutions, and all of the investors that participated in an earlier round of financing, in early 2018.
The 2018 round of financing brought in $5.2 million from 16 investors, according to a notice Unqork filed with the U.S. Securities and Exchange Commission in March 2018.
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Unqork is a New York-based company. It has developed a system that life insurers, health insurers, annuity issuers and other financial services organizations can use to create large-scale software applications without having to write anything in C++ or other programming language.
Companies can create applications with the system by choosing from a menu of pre-built forms, and adding product rules from product rule spreadsheets.
Unqork was founded in April 2017 and now has about 50 full-time employees.
The company runs its application development system on its own cloud-based servers. Customers pay fees as they go along.
Unqork says on its website that it’s not charging any setup, hosting, licensing or professional services fees.