About Propel Insurance
Propel Insurance is a company based in Seattle (United States) founded in 1923 was acquired by Flexpoint Ford in June 2018.. Propel Insurance has raised $155.36 million across 1 funding round from investors including Flexpoint Ford. Propel Insurance has completed 2 acquisitions, including Flexpoint Ford and Propel Insurance. Propel Insurance offers products and services including Commercial Insurance and Personal Insurance.
- Headquarter Seattle, United States
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Propel Insurance, Inc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$155.36 M (USD)
in 1 rounds
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Latest Funding Round
$155.36 M (USD), Private Equity Round
May 08, 2018
- Investors
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Employee Count
Employee Count
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Investments & Acquisitions
Flexpoint Ford
& 1 more
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Acquired by
Flexpoint Ford
(Jun 01, 2018)
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Products & Services of Propel Insurance
Propel Insurance offers a comprehensive portfolio of products and services, including Commercial Insurance and Personal Insurance. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Insurance programs are provided for businesses to protect against liability and property damage.
Coverage is offered for personal needs, including auto, home, and life insurance options.
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Funding Insights of Propel Insurance
Propel Insurance has successfully raised a total of $155.36M through 1 strategic funding round. The most recent funding activity was a Private Equity Round round of $155.36 million completed in May 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Private Equity Round — $155.4M
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First Round
First Round
(08 May 2018)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2018 | Amount | Private Equity Round - Propel Insurance | Valuation | Flexpoint Ford |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Propel Insurance
Propel Insurance has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Flexpoint Ford. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Private equity firm focused on financial services and healthcare companies
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Propel Insurance
Propel Insurance has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Flexpoint Ford and Propel Insurance. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Diversified insurance brokerage services are provided to clients nationwide.
|
2006 | ||||
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Private equity firm focused on financial services and healthcare companies
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2005 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Propel Insurance
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Propel Insurance Comparisons
Competitors of Propel Insurance
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Propel Insurance
When was Propel Insurance founded?
Propel Insurance was founded in 1923 and raised its 1st funding round 95 years after it was founded.
Where is Propel Insurance located?
Propel Insurance is headquartered in Seattle, United States. It is registered at Seattle, Washington, United States.
Is Propel Insurance a funded company?
Propel Insurance is a funded company, having raised a total of $155.36M across 1 funding round to date. The company's 1st funding round was a Private Equity Round of $155.36M, raised on May 08, 2018.
What does Propel Insurance do?
Propel Insurance was established in 1923 and operates as a diversified insurance broker in the financial services sector. Brokerage services are provided for multiple insurance types, including commercial and personal lines, from its base in Seattle, United States. Operations focus on risk management solutions tailored to business and individual needs across the region. The company maintains an online presence through propelinsurance.com to support client interactions and policy management.
What products or services does Propel Insurance offer?
Propel Insurance offers Commercial Insurance and Personal Insurance.
How many acquisitions has Propel Insurance made?
Propel Insurance has made 2 acquisitions, including Flexpoint Ford, and Propel Insurance.
Who are Propel Insurance's investors?
Propel Insurance has 1 investor. Key investors include Flexpoint Ford.
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