All Web Leads, a leading online sales lead generation company supplying the US insurance industry, announced today that it had acquired InsuranceLeads.com, a leading online insurance leads provider. To facilitate the acquisition the company has partnered with Great Hill Partners, a Boston-based private equity firm, who have invested to take a controlling interest in the combined company. The combined company will continue to be operated and managed by the All Web Leads executive team. Morgan Keegan & Company served as an advisor to All Web Leads, Inc for the transaction. Financial terms of the transaction will not be disclosed.
“We are very excited to welcome the InsuranceLeads.com team to the All Web Leads family,” said Bill Daniel, CEO of All Web Leads, Inc. “This acquisition will create tremendous additional value for the insurance agents, brokers and carriers that purchase Internet leads by more closely matching their business needs and those of online consumers. The acquisition will further advance Austin’s perception as an important place to be for internet businesses: HomeAway, Facebook, and Google have all voted with significant presences. At the same time it means Austin will be adding a significant number of high paying tech jobs.”
“Great Hill Partners have historically focused on growth investments that provide core value to consumers and businesses,” said Michael Kumin, Partner at Great Hill Partners. “By partnering with Bill and the team at All Web Leads we become involved with an organization that is changing the way that individuals shop for insurance products, greatly simplifying the process of obtaining and comparing multiple quotes, and helping insurance agents better leverage the Internet as a source of business growth.”
The combination creates a technology and data-driven insurance leads powerhouse – the largest direct lead generator in the insurance industry and the second largest active customer base of insurance agents, brokers and carriers. Insurance represents a fast-growing online market, with consumers increasingly using the Internet to research policies and prices prior to contacting an agent. Insurance lead generation companies connect consumers searching for insurance online with agents, brokers and carriers who provide those products and simplify the process of obtaining multiple competitive quotes.
The combined company now operates the largest network of direct consumer marketing web properties devoted to helping consumers more easily obtain multiple insurance quotes. More than 10,000 insurance agents, as well as numerous brokerages and insurance carriers, subscribe to the company’s services. The combined company will operate as All Web Leads and will also continue to operate numerous sub-brands.