Consumer United in Boston raises $52.5 million in financing to expand
Consumer United, Inc., an online insurance agency started six years ago, has raised $52.5 million in financing to continue its expansion across the country.
The Boston company raised $22.5 million in venture capital in a round led by Boston venture capital firm Spark Capital and New York investment company Thayer Street Partners, plus another $30 million in other available credit from Thayer Street.
Consumer United has 250 workers and said it plans to hire “significantly” more in the next year.
As part of the financing, Thayer Street founder Josh Koplewicz and Spark general partner Mo Koyfman will join Consumer United’s Board.Todd Wallack can be reached at firstname.lastname@example.org. Follow him on Twitter @twallack.