$4 million in funding secured from brokers and renowned insurtech Venture Capitalists
BrokerTech Ventures, founded in 2019 as the first broker-led platform for broker-centric innovation, ideation, investment, and communication, closed a co-leading funding effort to raise $4 million in capital for Highwing, a Denver-based insurtech company focused on an open exchange ecosystem for the benefit of the insurance industry value-chain.
Born from a brokerage, Highwing is focused on helping the insurance industry take control of their data — delivering better results faster to change both processing and management for brokers and carriers.
Partners in co-leading this investment round, Baldwin Risk Partners, an independent insurance distribution firm, and BrokerTech Ventures were joined by member firms, Conner Strong & Buckelew, Holmes Murphy, The ABD Team, and Heffernan Insurance Brokers. Investment groups Cameron Ventures, Revolution’s Rise of the Rest Seed Fund, SkyKnight Capital, SpringTime Ventures, and Service Provider Capital aligned in capital support to complete the Highwing investment round.
“Conner Strong & Buckelew is thrilled to be part of helping Highwing take their open exchange technology platform to the next level,” said Michael Tiagwad, Conner Strong & Buckelew CEO and founding member of BrokerTech Ventures. “Bending the innovation curve and ultimately changing the insurance experience for companies and clients is the goal, and it is companies like Highwind that will help us get there.”
Commercial insurance is expected to reach $900 billion by 2021 but has been restricted by manual methods. Utilizing their innovative insurtech platform, Highwing intends to use the $4 million in funding to expand their product suite, allowing users to organize insurance applications and more, providing a valuable service to the industry.
“We’re so grateful to Conner Strong & Buckelew and the other BrokerTech agency partners for their support in co-leading our seed funding round, which enables us to add staff and expand our product, said Erik Mitisek, CEO of Highwing. “We look forward to continued collaboration and support as we scale Highwing together.”
“This is an exciting time for BrokerTech Ventures, all the agency partners, for Highwing, our customers and the insurance industry,” said Terrence Tracy, Managing Director, Executive Vice President, Insurtech Practice Leader. “By investing in companies like Highwing, we move closer to creating a more efficient and creative platform that will help our industry and create a better engagement process for our clients.”
To learn more, visit www.brokertechventures.com.
About BrokerTech Ventures
Based in the insurance nucleus of Des Moines, Iowa, BrokerTech Ventures is the first broker-led convening platform and accelerator program focused on delivering innovation to the broader insurance ecosystem. Founded in 2019, BrokerTech Ventures provides a venue for the greatest thought-leaders in insurance and technology to collaborate and bring market leading-edge ideas and solutions. BrokerTech Ventures invests in the research, vetting and investing opportunities, for each of the selected startups, provides access to veteran industry mentors, and brings scale to the insurtech market through multi-billion dollar broker and insurance company distribution channels. Learn more at www.brokertechventures.com, or follow us on Twitter (@BrokerTechVen), LinkedIn, or Facebook.
Highwing provides open data solutions that help mid-market commercial insurance brokers and carriers move faster and go further for their clients. Highwing’s platform enables direct connectivity between brokers and carriers, powering efficient workflows, data-driven insights, and profitable growth.