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Overview
Spark Advisors provides a SaaS platform for insurance brokers, with a focus on health plan markets. It offers contracting, licensing, data solutions, and productivity tools to help brokers recruit, enroll, and scale their agencies more efficiently. The platform automates routine workflows and centralizes workflows related to contracting, licensing, and recruiting, enabling brokers to operate with fewer manual tasks. Its differentiated approach comes from long-standing strategic partnerships with brokers (since 2021) that have led to higher enrollments per agent and more contracted agents, implying revenue from subscriptions and partner-based services. The company's goal is to help insurance brokers grow their business by increasing productivity, speeding up recruiting, and scaling operations in a cost-effective way.
About Spark Advisors
Industries
Data & Analytics
Enterprise Software
Financial Services
Company Size
201-500
Company Stage
Series B
Total Funding
$53.6M
Headquarters
New York City, New York
Founded
2020
Simplify's Take
What believers are saying
- Medicare policy shifts drive broker demand for compliance and enrollment tools.
- 84% client retention enables upsell of premium analytics and marketing features.
- Mid-market agencies adopt Spark to replace legacy contracting and commission systems.
What critics are saying
- eHealth's 20-year platform and scale advantage captures larger broker networks.
- CMS 2027 interoperability mandate forces costly API overhauls, eroding efficiency gains.
- GoHealth's zero-fee contracting and cash incentives poach Spark's 6,000+ broker partners.
What makes Spark Advisors unique
- Unified platform serving brokers, principals, and call centers with integrated workflows.
- Partnership model credits agents for service work, enabling growth without acquisition.
- Automation saves brokers 600,000+ hours annually through contracting and licensing.
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Funding
Total Funding
$53.6M
Meets
Industry Average
Funded Over
4 Rounds
Industry standards
Benefits
401(k) Retirement Plan
401(k) Company Match
Paid Time Off
Monthly Remote Work Stipend
Paid Parental Leave
Up to 14 weeks for birthing parents
Up to 8 weeks for non-birth parents
11 paid holidays
2 week sabbatical at 5 years of employment
Wellbeing Perks through SpringHealth, OneMedical, PerkSpot, and SoFi
Health care, including dental and vision through our PEO Sequoia
Flexible work location; co-working available
Equity compensation
Health Insurance
Dental Insurance
Vision Insurance
Flexibility to work locations
Company News
Hermann Sons Life is partnered with Spark Advisors as its Medicare FMO.
New York-based brokerage. Spark Advisors <i class="fa fa-info-circle company-popover" data-content="h3Spark Advisors/h3. div
American Family Ventures led the round.
The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 3/3/2021 featuring funding details for Spark Advisors, Fillogic, and much more.
Spark Advisors launches with $3.6M : Spark Advisors, a technology-enabled brokerage that works with licensed independent agents to manage Medicare enrollment and retirement benefits, launched nationwide Tuesday with $3.6 million in funding led by Primary Ventures.
Spark Advisors is Hiring for 5 Jobs on Simplify!
Find jobs on Simplify and start your career today
About Spark Advisors
Industries
Data & Analytics
Enterprise Software
Financial Services
Company Size
201-500
Company Stage
Series B
Total Funding
$53.6M
Headquarters
New York City, New York
Founded
2020
Spark Advisors is Hiring for 5 Jobs on Simplify!
Find jobs on Simplify and start your career today