Austin, Texas-based The Zebra, the auto insurance comparison marketplace company has announced picking up $38.5 million as part of its Series C round financing. VC firm Accel is leading the round with participation from existing backers, Silverton Partners, Ballast Point Ventures, and the company’s CEO Keith Melnick. The round also saw participation from Floodgate and Weatherford Capital.
Before this round, Accel had led the $40 million Series B round too which the firm raised in 2017. The current infusion takes the total amount raised by the firm to $101.3 million. Daher Capital and Mark Cuban are the other noted backers of the firm.
The Zebra was founded by Adam Lyons and Joshua Dziabiak in 2012 as a platform that helps users compare dozens of car insurances before making a purchase. The firm has partnered with 9 of the top 10 insurance companies in the U.S.
Will Weatherford, Managing Partner, Weatherford Capital commenting on the deal said, “We are very pleased to join the latest funding round in The Zebra. 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.”
It will be interesting to see how the firm utilizes freshly raised funding to grow faster and reach heights.
Image courtesy : The Zebra