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Equal Parts

AI-powered agency acquisition platform for insurance

Overview

Equal Parts buys small independent insurance agencies and unifies them on a proprietary AI-powered platform. The system automates administrative tasks and supports agents with tools for quotes, risk management, onboarding, and claims, using natural language processing and predictive analytics. It differentiates itself by augmenting the agent–client relationship rather than replacing humans, applying a proven playbook from the energy services sector to scale through acquisition and consolidation. Its goal is to modernize the insurance distribution model to handle a coming wave of agent retirements and to maintain strong client service through technology-enabled workflows.

Significant Headcount Growth

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About Equal Parts

Simplify's Rating
Why Equal Parts is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Data & AnalyticsEnterprise SoftwareAI & Machine LearningFinancial Services

Company Size

11-50

Company Stage

Series A

Total Funding

$33M

Headquarters

Austin, Texas

Founded

2024

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Simplify's Take

What believers are saying

  • February 2026 Series A added $23 million and lifted acquisition capital to $50 million.
  • Equal Parts claims nearly 40% revenue growth and 50% bottom-line improvement across agencies.
  • September 2026 acquisitions in Texas and Florida deepen carrier relationships and freight expertise.

What critics are saying

  • Equal Parts must integrate acquisitions faster than rivals like NFP, Aon, and SterlingRisk.
  • Transportation concentration ties growth to freight-cycle volatility, underwriting losses, and regulatory shocks.
  • If lenders tighten, Equal Parts loses acquisition fuel and the rollup collapses.

What makes Equal Parts unique

  • Mike Witte scaled Workrise from two people to $3 billion, proving acquisition-led execution.
  • Equal Parts buys agencies, keeps local leadership, and centralizes operations onto proprietary AI workflows.
  • ProSource and Independence show specialized verticals, especially transportation, strengthen its platform density.

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Funding

Total Funding

$33M

Above

Industry Average

Funded Over

2 Rounds

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Above Average

Industry standards

$15M
$8.2M
$15M
$23M
$30M

Benefits

  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • Disability Insurance
  • Life Insurance

Growth & Insights and Company News

Headcount

6 month growth

15%

1 year growth

15%

2 year growth

4%
Beinsure
Sep 25th, 2026
AI platform Equal Parts acquires Florida transportation broker Independence.

AI platform Equal Parts acquires Florida transportation broker Independence. Sep 25, 2026 Equal Parts, an AI-native insurance platform for independent agencies, has acquired Independence Insurance Agency, a Miramar, Florida-based brokerage specialising in transportation insurance. The deal is Equal Parts' second transportation-focused acquisition announced in consecutive weeks. It follows the purchase of ProSource Insurance Agency, a Texas brokerage serving trucking companies, owner-operators and commercial fleets. Equal Parts announced the ProSource transaction on September 18. Independence provides commercial trucking insurance for owner-operators, new ventures, small fleets and established transportation companies. The agency was built around a specialised operating model combining transportation insurance expertise with technology and centralised business processes. The acquisition expands Equal Parts' presence in transportation insurance, a segment where underwriting and coverage requirements vary considerably by fleet size, operating history, cargo and other commercial exposures. Independence will continue operating under its existing leadership after joining Equal Parts. The agency gains access to the buyer's proprietary technology, centralised operations, broader carrier relationships, shared services and acquisition resources. Equal Parts said the combination is intended to connect transportation specialists across its agency network. Adding agencies operating in the same sector gives individual businesses access to a larger pool of carrier relationships, insurance markets and sector expertise. The Independence transaction follows a similar structure to the ProSource acquisition. The Texas brokerage retained its existing leadership while receiving access to Equal Parts' technology, operational support and carrier relationships. Transportation has become a more visible part of Equal Parts' acquisition strategy as the company builds a network of specialised independent insurance agencies. The platform also works with brokerages across commercial insurance, personal lines, employee benefits and financial services. Equal Parts combines its AI-based operating system with centralised services, expanded market access and acquisition capital. The company uses the platform to reduce administrative work for acquired agencies while allowing their teams to retain client relationships and sector specialisation. With Independence and ProSource joining the platform in consecutive announcements, Equal Parts is increasing its concentration in commercial transportation insurance and extending its capabilities for trucking businesses and fleet operators across multiple US markets.

Equal Parts
Sep 1st, 2026
Equal Parts welcomes ProSource Insurance Agency expanding transportation insurance platform.

Equal Parts welcomes ProSource Insurance Agency expanding transportation insurance platform. Equal Parts welcomes ProSource Insurance Agency, expanding its transportation insurance expertise for trucking companies, owner-operators, and commercial fleets The acquisition expands Equal Parts' transportation insurance capabilities while strengthening its presence in Texas and deepening its expertise serving trucking companies, owner-operators, and commercial fleets. AUSTIN, Texas - Equal Parts is proud to welcome ProSource Insurance Agency, based in Plano, Texas, to the Equal Parts platform. Following the successful completion of the acquisition during the first quarter of 2026, Equal Parts is excited to publicly share how this partnership strengthens its growing transportation insurance practice. Founded in 2003, ProSource has built an outstanding reputation serving trucking companies, owner-operators, commercial fleets, and transportation businesses throughout Texas and across the country. Under the leadership of President Paul Nhem, the agency has become known for combining deep transportation expertise with long-term client relationships. The addition further expands Equal Parts' capabilities in one of commercial insurance's most specialized industries while strengthening its growing presence across Texas. | built around transportation businesses. Trucking companies don't simply need insurance policies. They need advisors who understand how their businesses operate. A long-haul carrier has different exposures than a local delivery fleet. A new venture faces different challenges than an established operator. Businesses hauling refrigerated freight, hazardous materials, or oversized equipment require different solutions than companies transporting general cargo. ProSource has built its business around understanding those differences. Its expertise spans: * Commercial Auto Liability * Physical Damage * Motor Truck Cargo * General Liability * Non-Trucking Liability * Trailer Interchange * Reefer Breakdown * Occupational Accident * Fleet Insurance * DOT and FMCSA Filings That depth matters because transportation clients need more than access to insurance carriers. They need advisors who understand the realities of their operations and can structure coverage around them. | relationships built over decades. President Paul Nhem has worked in the insurance industry since 1990, beginning his career with State Farm before serving with The Hartford, Fireman's Fund, and CNA Insurance. He founded ProSource in 2003 with a simple philosophy: create an agency where insurance professionals could build meaningful careers while developing lasting relationships with their clients. More than two decades later, that philosophy continues to define the agency. Today, ProSource has become a trusted advisor for trucking companies, owner-operators, commercial fleets, and transportation businesses throughout Texas and across the country. "Paul has spent decades building an agency around trust, expertise, and long-term relationships," said Mike Meller, Co-Founder and Chief Operating Officer at Equal Parts. "That's exactly the type of business we want to partner with. Our platform allows agencies like ProSource to continue doing what they do best while gaining access to additional technology, operational support, and carrier relationships that help them scale." | why ProSource fits Equal Parts. Equal Parts is building a platform of exceptional insurance agencies. Every agency Equal Parts partner with brings specialized expertise, strong local relationships, and talented leadership. Equal Parts provides the technology, operational infrastructure, carrier access, and shared services that help those agencies continue growing while preserving what made them successful. For transportation insurance, that means combining: * Deep trucking expertise * Expanded carrier relationships * Modern operating technology * Centralized servicing and support * AI-powered workflows * A nationwide network of insurance specialists Technology isn't replacing expertise. It's allowing experts to spend more time applying it. | building a national transportation practice. Transportation remains one of the most complex segments of commercial insurance. Insurance markets continue to evolve. Repair costs continue to rise. Regulatory requirements become more demanding. Clients need advisors who understand those changes and can help them navigate them with confidence. By partnering with experienced leaders like Paul Nhem, Equal Parts continues building one of the country's strongest transportation insurance platforms. ProSource will continue serving clients under Paul's leadership while benefiting from shared technology, operational resources, expanded market access, and collaborative expertise available across the Equal Parts platform. "ProSource represents exactly what we're looking for in a partner: exceptional leadership, deep specialization, and an unwavering commitment to clients," said Mike Witte, Co-Founder and Chief Executive Officer at Equal Parts. "Our role is to provide the platform that allows great agencies to grow faster while preserving the relationships and culture that made them successful." | The road ahead. With ProSource joining the Equal Parts platform, Equal Parts is continuing to build a national network of specialized insurance agencies connected through shared technology, centralized operations, and exceptional local leadership. Transportation insurance is one example of its long-term strategy: partner with outstanding agencies that have earned the trust of their clients, then provide the operating platform that helps those agencies grow even faster. Equal Parts is proud to welcome Paul and the entire ProSource team to Equal Parts. Equal Parts is excited for what's ahead.

Insurance Journal
Feb 11th, 2026
Texas' Equal Parts Raises $23M to Support Acquisition Strategy

Texas' Equal Parts raises $23M to support acquisition strategy. February 11, 2026 Equal Parts, an Austin, Texas-based insurance agency startup, announced it has raised $23M in Series A funding led by Inspired Capital. The investment will accelerate the company's acquisition strategy and further develop AI tools that extend the reach and impact of independent agencies. The company plans to acquire 25 agencies this year and reach $1B in premiums within 24 months. The Series A round, with participation from Equal Ventures, Max Ventures, Genius Ventures and lending partners, brings Equal Parts' total acquisition capital to $50M. Recent acquisitions include Strategic Insurance in New Mexico and Austin-based Assurely and Lumen Insurance. Was this article valuable? Interested in funding? Get automatic alerts for this topic.

Business Wire
Feb 11th, 2026
Equal Parts Secures $23M in Funding to Transform Independent Insurance With Blend of AI Tools and Human Relationships

Equal Parts, an insurance platform focused on transforming independent agencies, today announced it has raised $23M in Series A funding led by Inspired Capit...

Axios
Feb 10th, 2026
Equal Parts raises $23M to consolidate insurance agencies

Equal Parts, a company acquiring insurance agencies and migrating them to a proprietary operating system, has raised $23 million in Series A funding, CEO Mike Witte tells Axios. The fundraising comes as the insurance agency sector faces significant consolidation, with half of agency principals expecting major ownership changes within the next decade, according to Liberty Mutual research. The startup's rollup strategy targets the fragmented insurance agency market by centralising operations through its in-house technology platform.

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