The Zebra, an insurance comparison site based in Texas, has received an infusion of $38.5m through a Series C funding round led by venture capital firm Accel.

Accel was joined by family-owned private investment firm Weatherford Capital, as well as existing backers Silverton Partners, Daher Capital, Floodgate Fund, and Ballast Point Ventures.

The Zebra CEO Keith Melnick also participated in the latest financing round.

Elaborating its rationale for the investment, Weatherford Capital managing partner Will Weatherford said: “We focus on supporting quality teams, industry leaders, and healthy cultures — The Zebra is a great fit for our mandate.

“We look forward to working with The Zebra management team and our fellow investors to build additional value in the business and help further their mission of bringing transparency to the insurance industry.”

The Zebra enables users to compare over 100 insurance companies through its real-time quote comparison tool.

It claims to have more than 1.3 million website visitors on a monthly basis.

The Zebra generated revenues of around $37m in 2019, which is a 200% surge from the prior year.

The firm anticipates over 100% growth in revenue this year as well.

The Zebra’s annual run rate is more than $60m, of which over half is said to be from users coming organically to the site.