Agentero uses technology to connect agents to carriers. Credit: Jp Valery on Unsplash.

Digital insurance network Agentero has raised $13.5m in Series A funding round led by Alma Mundi Ventures.

The insurtech’s existing investors including Foundation Capital, Union Square Ventures, Financial Venture Studio, and Two Culture Capital also participated in the round.

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Founded in 2017, the digital insurance network connects independent insurance agents to modern carriers.

It leverages algorithms to combine agents’ existing data with third-party information sources to identify new business and cross-sell opportunities.

Agentero claims that currently it works with more than 800 independent agencies.

The funding will be used by Agentero to add new carriers and additional lines of insurance.

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It currently offers access to auto, general & professional liability, workers’ compensation, flood, and life insurance among others.

Agentero CEO Luis Pino said: “Agents are the present and future of insurance distribution, and they must become more digital. Our technology strengthens their ability to use data analytics to write new policies with an end-to-end digital experience for their customers.

“Independent agencies want access to modern carriers and there’s no better digital solution than Agentero to take advantage of today’s best insurance products and technology.”

Alma Mundi Ventures founder and managing partner Rajeev Singh-Molares said: “Agentero—with its focus on strengthening agents’ abilities to compete in today’s digital market using analytics and access to insurance products—is making a big impact on the insurance industry.”