ISI Closes $100m Equity Investment From Gallatin Point
ISI Closes $100m Equity Investment From Gallatin Point
Gallatin Point Capital LLC (GPC) has invested $100 million in Insurance Supermarket International Inc. (ISI), a digital distribution platform for life insurance.
Since establishing its digital distribution and administration platform in 2015, this is ISI’s first institutional equity investment.
The funds managed by GPC will be used to help ISI expand its lucrative life insurance business across North America and to build its platform services and distribution channels based on technology.
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In a press release, GPC announced that its Co-Founder and Managing Partner, Matt Botein, will join ISI’s Board of Directors.
Botein commented: “We have been impressed by ISI’s vision and its values, which have fuelled the company’s tremendous growth while delivering valuable and essential financial security to its customers.
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ISI Closes $100m Equity Investment From Gallatin Point
“ISI combines entrepreneurial energy and creativity with institutional quality product design and service. We look forward to supporting the company’s growth into new products and markets.”
With over 150,000 families currently relying on ISI for financial security, the insurer highlighted that it has established itself as the leading digital life insurance player and one of the very few that has successfully scaled its business in multiple countries and languages.
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Alex Dudarev, Founder and CEO of ISI, said: “Gallatin Point’s knowledge of the sector and the alignment of our vision for the future of the insurance industry allows us to touch and improve more lives and to help the life insurance industry transition to the digital age.
“We are working hard to ensure that the number of underinsured families is decreasing and our partnership with Gallatin Point allows us to quickly and seamlessly make a meaningful difference in the industry.”
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