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Breeze and InsureLife Attract Capital

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What You Need to Know

  • Breeze raised $10 million.
  • A Northwestern Mutual affiliate contributed to the Breeze round.
  • Nassau Financial contributed to the InsureLife round.

Two young insurance distribution companies have raised large amounts of cash from investors.

One is Breeze, an Omaha, Nebraska-based company that sells disability insurance and critical illness insurance online.

The other is InsureLife, a Raleigh, North Carolina-based insurance distribution system company.

Breeze

Breeze raised $10 million from a group that includes a Northwestern Mutual venture capital affiliate and Silicon Valley Bank.

The lead investor was Link Ventures of Boston.

Breeze says it will use the new funding to add new products, insurers and agents.

The company will also use the money to create staff jobs. It says it expects to hire employees for its software development, customer service, distribution and marketing operations.

InsureLife

InsureLife helps connect insurers with agents and consumers.

The company raised an amount of cash that was not disclosed from an investor group that included Nassau Financial Group. The company described the round as a “seed stage” round.

The company says that it has distribution agreements with Nassau Financial and a supplemental health insurer, and that it will use the cash it has raised to help those companies sell insurance through its distribution system.

(Image: Tomertu/Stock.adobe.com)