Jerry Valued At $450 Million After Large Round of Funding
Aug. 12, 2021—Jerry, an AI-based car insurance comparison service, has raised $75 million in a Series C round of investing that values the company at $450 million, TechCrunch reported.
The funding will be used to help launch the company’s “compare-and-buy” marketplaces in new verticals, including financing, repair, warranties, parking, maintenance and “additional money-saving services.”
Since Jerry launched the insurance service in January 2019, the startup has amassed nearly 1 million customers in the U.S. as a licensed insurance broker. Now it’s focus is to create a mobile-first car ownership “super app.”
“Today as a consumer, you have to go to multiple different places to deal with different things,” Agrawal said at the time of the company’s last raise. “Jerry is out to change that.”
Agrawal told TechCrunch that the company is on track to triple last year’s policy sales, and that its policy sales volume makes Jerry the number one broker for a few of the top 10 insurance carriers.
