QuoteWell has raised an additional $12 million, led by New Enterprise Associates

QuoteWell, a tech-driven wholesale insurance brokerage, has announced an additional $12 million in financing, bringing the company’s total capital raised to $32 million. The funding was led by New Enterprise Associates, with new investors Brand Foundry Ventures and ClockTower Ventures joining the round, along with participation from existing investors Goldcrest Capital and Floating Point, plus strategic angel investors.

Headquartered in Austin, Texas, QuoteWell specializes in placing complex commercial risks in the non-admitted insurance market, including construction, energy, real estate, and manufacturing. The company combines real insurance expertise with tech-enabled workflows to provide a modern solution for a traditionally outdated industry, helping agency owners and producers place tough risks faster and grow their book of business through its “Human-first. Always Advanced.” approach.

“We’ve consistently focused on building a platform that empowers producers to be more efficient and effective, and this new funding will allow us to double down on that strategy,” said Joey Bouchard, Founder and CEO of QuoteWell. “Our ability to seamlessly fuse the best of technology and human expertise is what sets us apart. I don’t believe many players across the insurance ecosystem have managed to actually apply AI in meaningful ways to unlock real leverage with their talent pool—I believe we’ve cracked that.”

The new funding will accelerate QuoteWell’s growth in key markets, specifically expanding its producer footprint in the Southeast and West Coast, while continuing investment in research and development focused on AI-driven automation within its proprietary platform. Brian Spaly, General Partner at Brand Foundry Ventures, noted: “At Brand Foundry, we see insurance as a massive market that has yet to benefit from the same level of innovation and use of technology as other sectors. We take pride in backing the best founders in Austin, and we believe QuoteWell is one of our city’s standout startups.”

Ned Daoro, Managing Director at ClockTower Ventures, emphasized QuoteWell’s competitive positioning: “Clocktower has made many insurance investments and spent significant time evaluating digital and modern wholesale brokerages. What sets QuoteWell apart is their focus on building and automating the internal brokerage experience, combined with a diverse and differentiated carrier panel. We believe they are the true challenger in the space.”

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