Women-centric life insurance company JennyLife raises $3.5m in Series A round
JennyLife, a US life insurance company, focused on women and in particular moms, has bagged $3.5 million in a Series A funding round.
The no-health-exam-required life insurance provider has so far raised $5 million. The Series A round was led by CMFG Ventures, the venture arm of CUNA Mutual Group, alongside participation from undisclosed luminaries from within the insurance industry.
Brian Kaas – President of CMFG Ventures said: “JennyLife has made tremendous progress since its launch and is poised to become the most trusted source for helping families maintain financial stability should they endure life’s darkest moments. We are impressed with JennyLife’s talented team of industry veterans and their category-leading technology that makes them well positioned to take advantage of the considerable market opportunity in the insuretech space.”
JennyLife said that it will utilize the proceeds from the Series A round to fast track its ability to protect the 28.5 million families without mortality protection by focusing on developing technology and for growing its marketing to best attract and cater to the audience.
According to JennyLife, women and moms looking to protect their family’s financial stability, can apply for its life insurance easily from their smartphone or laptop using its native apps, web app, SMS or by giving a call to 855-88-JENNY. The life insurance company said that health exams and blood draws are not required for its life insurance solutions.
Chirag Pancholi – co-founder and CEO of JennyLife said: “JennyLife is transforming the way people think about life insurance.
“In the face of these tough economic times, this additional financing allows us to continue to grow JennyLife and advance our product and business around the nation. In this business climate, people are hungrier than ever for information about their financial security. We’re improving the breadth, depth, and quality of our offerings to support the growing interest we’re seeing from families.”