The company's platform is designed to address and manage the overabundance of data produced by incompatible software and legacy systems across the insurance industry.
Insurance networks are often comprised of hundreds or even thousands of independent insurance agencies that use disparate data or workflow systems. That makes it difficult to understand how they are performing.
AgencyKPI says its platform, called Harmony, allows insurance industry networks to achieve improved collaborative planning and greater operational efficiencies, and to carry out performance benchmarking.
The Harmony platform currently handles
The funding round was led by
The company previously raised
AgencyKPI was founded in 2017 by
"With this funding round, we have confirmation from the insurance industry that insurance carriers, networks and independent agencies want to better enable collaboration through a deeper understanding of their data," Billman said in a written statement.
AgencyKPI has 17 employees and plans to grow to at least 30 over the next year. It plans to use the funding to hire software developers, data scientists and customer care and product managers.
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