Indio, a San Francisco, CA-based commercial insurance platform for brokers, secured $2m in seed financing.
Backers included New Enterprise Associates, Compound, Merus Capital, 500 Startups and insurance carrier Hiscox.
The company intends to use the funds to grow its user base and platform.
Founded by Paul Butler, Michael Furlong and Matthew Watson, Indio provides traditional brokers with a workflow management platform that automates the manual processes of retrieving quotes from different carriers and processing insurance applications from clients reducing the operational overhead required to run an insurance agency and focus on sales and relationship management.
First appeared at FinSMEs