Clearsurance Raises $4 Million For Crowdsourced Insurance Platform

Business Wire

Led by Co-founder and David Capital Partners, insuretech startup to invest in talent, product development

NEWBURYPORT, Mass.--(BUSINESS WIRE)-- Clearsurance, the first-of-its-kind crowdsourced review, rating and educational platform exclusively for the insurance industry, raised $4 million in a Series A funding round to assist in the continued development and growth of its services. The website has curated over 50,000 reviews on more than 350 insurance carriers in the home, rental and auto markets.

The round was led by its co-founder, Michael Crowe, and includes Davis Capital Partners, a Sausalito, Calif.-based investment firm with extensive expertise in the insurance sector. Funds will be used for strategic new hires as well as product-build and marketing efforts.

“I’m leading our Series A round because I believe so strongly in our mission,” said Michael Crowe, CEO and co-founder of Clearsurance. “Consumers now have an unbiased place to turn for information about their insurance options. Our mission is to help people make smarter insurance decisions based on real reviews and ratings from actual policyholders, and our crowdsourced platform allows them to learn from the experiences of others.”

Crowe also noted that teaming-up with Davis Capital Partners was a natural step in expanding Clearsurance’s capacities. “We’re excited about the partnership,” said Crowe. “Davis Capital Partners’ experience and insights into this industry will be extremely valuable as we expand our capabilities.”

Clearsurance launched in 2016 with the goal of increasing transparency in the insurance industry and empowering consumers to make educated policy decisions. Designed to curate reviews from engaged consumers at every stage of their relationship with a carrier, Clearsurance’s crowdsourced data is comprehensive, authentic and actionable for insurers seeking to bolster customer relations and extend their brand reach.

“We’re proud to invest in Clearsurance. It’s bringing an important new perspective to consumers at a very exciting time in insuretech,” said Davis Capital’s Christopher Chouinard. “The platform is set to change how consumers learn about and buy insurance, and in turn, how insurers engage and communicate with them. We’re delighted to be a part of it.”

To learn more about Clearsurance or one of the many personal lines insurance companies currently reviewed on the site, please visit www.clearsurance.com.

About Clearsurance

Based in Newburyport, Mass. and founded in 2016 by Mike Crowe and Todd Kozikowski, Clearsurance is the first-of-its-kind crowdsourced review, rating and educational platform specifically for insurance. It's designed to bring transparency and insights to help consumers make smarter insurance decisions, and to engage insurance carriers to showcase their brand to acquire and retain customers by publishing crowdsourced reviews and ratings. For more information, visit www.clearsurance.com.