The Zebra, a real-time online auto insurance comparison platform, today announced that it has raised an additional $3 million to complete its seed financing round, bringing the company total to $4.5 million to fuel a nationwide expansion of its auto insurance comparison services. The platform will now be available to both low and high risk drivers across the country, helping them find the best insurance rates.
The Zebra’s digital platform compares more than 200 of the nation’s top auto insurance carriers to provide consumers, no matter their location, with real-time quotes that best fit drivers’ needs. Through exposing drivers to rates they wouldn’t have seen through more traditional routes of purchasing, The Zebra brings a new level of transparency to the otherwise opaque process, helping consumers easily find and understand the best policy for them.
“After spending years in the insurance industry, it was clear to me that consumers needed an alternative way to purchase auto insurance,” said Adam Lyons, CEO of The Zebra. “We believe that buying auto insurance doesn’t have to be an extremely confusing or difficult process. Our platform brings today’s drivers a unique user experience that removes the hassle and confusion of purchasing policies, transforming it into a black and white process.”
In less than 60 seconds, consumers can find an auto insurance policy that fits their individualized needs. In several easy steps they are prompted to answer a few questions that indicate their risk factor, which in turn affects their rates. The site then populates with the best deals for them.
According to the Consumer Federation of America’s 2013 review of auto insurance regulation in America, expenditures on auto insurance have increased by more than 50 percent for drivers in 32 states over the past 20 years. Through The Zebra’s platform, drivers in every state can access a wide-range of insurance quotes to ensure they’re adequately protected and saving as much as possible.
“People want a better way to buy auto insurance. We live online; so buying car insurance should be as simple as going to TheZebra.com” said investor Mark Cuban, star of ABC’s Shark Tank and an investor in The Zebra. “…The Zebra has worked with the leading insurance carriers to make sure that not only is buying auto insurance easy, but you also get the best in pricing and features. I highly recommend it.”
This new funding round included participation from Simon Nixon, one of the U.K.’s richest tech entrepreneurs and founder of the UK’s leading price comparison website Moneysupermarket.com. He joins Mark Cuban and Mike Maples, Jr. as investors in the company. Additional participation in the entire seed round included Floodgate, Silverton Partners, Birchmere Labs, and Swallow Point Ventures, bringing the company total to $4.5 million raised.