Red Ventures Announces Acquisition of HomeInsurance.com

The technology company plans to actively expand into the insurance category in 2012.

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Apr 03, 2012, 07:04 ET

CHARLOTTE, N.C., April 3, 2012 /PRNewswire/ -- Red Ventures announced today that it has acquired HomeInsurance.com, a leading online provider of home and auto insurance. The acquisition is part of a broader strategy for Red Ventures, which has expanded into several new industries over the past year. The addition of the Wilmington, N.C. based company will increase the size of Red Ventures' workforce by more than 10 percent, and adds a fourth location to its existing campuses in South Carolina, Texas and Florida.

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"This acquisition builds on our current success and will allow us to introduce our expertise into the insurance category," said Red Ventures CEO Ric Elias. "The industry is both complementary to our business model and aligns with our core competencies."

Red Ventures partners with some of the nation's largest brands to bring them high volumes of high-quality customers. Partners span across industries including: entertainment, data and internet, small business solutions, security, energy and software services. The company uses proprietary technology to market and sell services through a variety of online and offline channels. Red Ventures has experienced more than 50% growth every year for the past three years, and has tripled its employee base during the same window.

"The online marketing capabilities and technology-driven sales approach at Red Ventures is the perfect match for what we've built at HomeInsurance.com," said founder Carlos Lagomarsino. "This acquisition will give our business the tools it needs to fuel growth for years to come and we are proud to be joining one of the fastest-growing and best places to work."

About Red Ventures:

Red Ventures is a technology company that builds high-growth businesses. Through a combination of strategic marketing and sales, Red Ventures optimizes the customer lifecycle for large brands, from initial interest in the marketplace to the end transaction. Success is driven by advanced internet analytics, proprietary technology and the company's greatest competitive advantage – the people. Red Ventures has twice been ranked among the top 20 fastest-growing companies on the Inc. 500 list and has twice been named the Best Place to Work in Charlotte. Founded in 2000 by Ric Elias and Dan Feldstein, Red Ventures employs more than 1,400 people in four locations. Learn more at www.redventures.com.

SOURCE Red Ventures