TruVise.ai Secures Funding, Gains Momentum Despite Difficult Fundraising Climate
The insurance technology company continues to strengthen fundraising efforts by welcoming new investors to join its early success.
With TruVise, financial institutions can profit from existing customer data by leveraging advanced technology to generate additional revenue.
DES MOINES, IOWA – November 2, 2022 – TruVise.ai is pleased to announce an initial closing of its pre-series A funding from Next Level Ventures, Kuvare US Holdings, Iowa Bankers Insurance and Services, Inc. (IBIS), Adam Claypool and other seasoned angels. TruVise provides a comprehensive, end-to-end platform that generates new revenue by capturing insurance cross-sell opportunities using its clients’ consumer data. The funding, which will continue through the end of the year, will support growth initiatives, including customer acquisition and further development of its proprietary analytics, artificial intelligence (AI), and machine learning (ML) engine. Funding will also expand TruVise’s digital marketing capabilities and insurance product offerings.
The company initially raised a seed round from strategic investors in banking and life insurance along with founder and CEO Adam Claypool, a former insurance agent turned software venture capitalist and M&A executive. The initial round of investment was received pre-product and pre-code. TruVise recently completed its MVP, signed up four new bank, insurance broker and life insurance company clients, and is poised to continue its new client momentum in banking and insurance distribution.
“This round of funding is substantial for the future of innovation at financial institutions. The current fundraising environment has become very challenging. However, TruVise continues to raise funds, attract new clients and focus on growth and expansion, which is proving to be a key differentiator,” said founder and CEO, Adam Claypool.
TruVise provides key insights to financial institutions such as insurance companies, community banks and insurance brokers as they become more attentive to consumers' needs for hybrid digital and human engagement. Using its proprietary advanced analytics, TruVise automates the process of segmenting customer data to deliver the right insurance product at the right time to the right consumer and allowing consumers to buy online or offline on their terms. The company is partnering with financial institutions across the country to open new revenue potential and increase consumer retention by offering life insurance and annuity products to their existing consumers.
TruVise will expand beyond life insurance to launch auto and home insurance by the end of 2022. While many insuretechs have life insurance or property and casualty products, TruVise has both, creating a more lucrative option for financial institutions.
Founded in 2020, TruVise.ai levels the playing field for financial institutions and insurance distributors by providing the same digital engagement edge previously only afforded by big insurance brands and carriers. TruVise has developed a way to bring advanced analytics, machine learning, artificial intelligence, and digital automation to consumers with a personal touch, delivered from the people they most trust. Learn more at TruVise.ai and follow us on Twitter (@TruViseAI) or LinkedIn.
Ryan Weldon, Director of Marketing, firstname.lastname@example.org