SALT -- an InsurTech start-up based in Grapevine, Tx announced the completion of a $2MM Series A raise with lead investor Eagle Venture Fund

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May 10, 2022, 09:06 ET

GRAPEVINE, Texas, May 10, 2022 /PRNewswire/ -- SALT is an InsurTech start-up focused on meeting the demand for a modern way to buy home and auto insurance from independent agents (IAs). By enhancing the prospect data acquisition process, SALT speeds up the time it takes to move a prospect through the sales pipeline, while also equipping the IA with ways to connect with referral partners.

Thank you to each of our investors for taking a stake in advancing our vision to build modern technology solutions that solve real problems. Jonathan Simmons, SALT Co-Founder and CEO defines his ideology regarding technology in this way.

"I believe design should have a purpose, products should solve problems, and the greatest ideas are those born from necessity and collaboration."

SALT was built with this philosophy in mind.

Plans for the Funds: To build out sales and distribution by hiring 4-6 new team members, continue product development by listening to our agent customers about what their short- and long-term needs are, and to market SALT by attending industry conferences.

Recent Successes:

In Q1 2022, the SALT team grew the agent subscriber base by 40%.
Independent Insurance Agents of Texas (IIAT) announced its endorsement of SALT.
SALT integrated with two main comparative raters — PL Rating — a Vertafore product and EZLynx — an Applied Systems product.
SALT integrated with two big data partners making the data collection process seamless for the end user, the IA prospect — Fenris which gathers VIN #s as well as household drivers and Estated which gathers real estate property data.

As a result of the raise, SALT is thrilled to have welcomed two new board members: Robert Nitsche and Casey Nelson. They both bring real and practical industry knowledge, experience, and networks that we can immediately apply.

About Robert Nitsche
Robert is the immediate Past Chairman of the IIAT Board. Robert owns and operates a successful agency with over nine locations in Texas. We are so honored to have Robert's leadership and expertise on our Board.

About Casey Nelson
Casey is the owner of Stakwise, which helps IAs solve tech integration problems. He has been in the independent insurance industry for over a decade and has a real passion to help agents use automation to grow their bottom line.

Contact:
Casey Hege
[email protected]

SOURCE SALT