Pathpoint, a Washington, DC-based digital insurance wholesaler, raised $12.5M in funding.
The round was led by Caffeinated Capital.
The company intends to use the funds to accelerate continued expansion after its posted record growth in 2022.
Led by CEO Alex Bargmann, Pathpoint is a digital wholesaler where insurance agents can get bindable small commercial E&S quotes in a few minutes. The company combines proprietary technology and service to give retail insurance agents fast access to quotes from multiple, A-rated carriers in the Contractors, Vacants, Lessor’s Risk, Monoline Property, Restaurants, and Cyber verticals.
Pathpoint is licensed in all 50 states and a coverholder at Lloyd’s of London. To further scale distribution, the company began working with some of the largest networks, aggregators, franchise operations, and digital platforms in the commercial insurance agency space. Pathpoint launched with 16 of the top 40 in 2022 and plans to use new funding to double this number in 2023.
FinSMEs