|[November 01, 2018]
Compare.com Raises $35 Million to Expand Online Car Insurance Comparison Services for U.S. Consumers - Bringing Total Investment to $185 Million
Compare.com, the leading online car insurance comparison site, announced
today that it has raised $35 Million to help fuel its expansion and
brand development. Compare.com partners with over 60 top U.S. auto
insurance companies to help drivers find accurate prices for the policy
that best fits their needs. Founded in 2013, the company has raised a
total of $185 Million to date making it one of the largest investments
in the rapidly growing Insuretech category.
Investors for this raise include former Admiral Group CEO, Henry
Engelhardt and his wife, whereby they will invest $25 Million into
Compare.com. As a result of this investment, Henry will join the
Compare.com Board of Directors.
Separately, Admiral Group, a foundinginvestor, has provided Compare.com
a $10 Million convertible loan instrument. Andrew Rose, CEO of
Compare.com, commented, "We are delighted to secure this investment and
we look forward to working closely with Henry, who has deep knowledge of
Compare.com and the U.S. market."
Rose said the new funds will allow Compare.com to continue to educate
consumers on the benefits of online car insurance comparison shopping,
build brand awareness and users, and expand the roster of top insurers
on the Compare.com platform.
Compare.com is a limited liability corporation headquartered in
Richmond, VA, majority owned by the Admiral Group, LLC, the UK's second
largest auto insurer and a member of the FTSE 100. Currently offering
car insurance comparison services for US consumers in 49 states,
Compare.com allows consumers to fill out a single form and get multiple
accurate quotes from trusted auto insurers. Through simple side-by-side
comparison, Compare.com makes finding the best available rates on car
View source version on businesswire.com: https://www.businesswire.com/news/home/20181101005253/en/
[ Back To Homepage ]