Veruna

Veruna

Cloud-based agency management system for insurance

About Veruna

Simplify's Rating
Why Veruna is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Data & Analytics

Enterprise Software

Fintech

Company Size

11-50

Company Stage

Series B

Total Funding

$21.4M

Headquarters

Hopkinton, Iowa

Founded

2015

Overview

Veruna provides a cloud-based Agency Management System (AMS) specifically designed for independent insurance agencies. Built on the Salesforce platform, Veruna's system allows users to manage their operations from any device, offering features like real-time data insights, customizable dashboards, and reports. This enables agencies to make informed decisions quickly and stay ahead of industry trends. Unlike many competitors, Veruna operates on a Software-as-a-Service (SaaS) model, where clients subscribe to access the software, ensuring they receive continuous updates and support. The goal of Veruna is to empower insurance agencies by enhancing their operational efficiency and customer engagement through modern digital solutions.

📈
Significant Headcount Growth
Simplify Jobs

Simplify's Take

What believers are saying

  • Veruna's integration with Bold Penguin enhances quoting and submission efficiency for agents.
  • The Series B funding of $10M supports Veruna's growth and innovation in insurtech.
  • Joining Guidewire's Insurtech Vanguards program boosts Veruna's industry recognition and partnerships.

What critics are saying

  • Increased competition from Salesforce-based AMS providers may erode Veruna's market share.
  • Economic downturns could impact Veruna's subscription-based revenue model.
  • Reliance on Salesforce's platform poses risks if there are service disruptions.

What makes Veruna unique

  • Veruna offers a Salesforce-based AMS, providing seamless integration with CRM capabilities.
  • The platform supports real-time data insights, enhancing decision-making for insurance agencies.
  • Veruna's Quote Hero solution revolutionizes quoting for independent insurance brokers and agents.

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Funding

Total Funding

$21.4M

Below

Industry Average

Funded Over

3 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Below Average

Industry standards

$35M
$30M
Patreon
$45M
Linktree
$65M
Substack
$100M
ClickUp

Growth & Insights and Company News

Headcount

6 month growth

17%

1 year growth

21%

2 year growth

14%
Newswire
Feb 8th, 2024
Veruna Launches Quote Hero: A Revolutionary Two-Way Quoting Solution for Independent Insurance Brokers and Agents

Veruna launches Quote Hero: A revolutionary two-way quoting solution for independent insurance brokers and agents.

FF News
Nov 30th, 2023
Bold Penguin And Veruna Announce Industry-Leading Integration To Return Quotes From Bold Penguin To Veruna - Fintech Finance

A few weeks after announcing their partnership, small commercial insurance technology provider, Bold Penguin, and Veruna, a leading insurance Agency Management System (AMS) platform, have extended their industry leading integration. Agents launching a commercial insurance application from Veruna now have the option to retrieve application data and returned quotes directly in their AMS platform, resulting in a truly embedded experience.Typically, integrations between an AMS and rating solutions simply bridge application data to start the quoting process, leaving valuable customer insights to reside outside the agent’s AMS platform. This innovative integration delivers an optimized submission, quoting, and renewal experience, providing agents the data they need, where they need it, to maximize efficiency and close rate in both their quoting platform and AMS.“Agencies are continually looking for ways to increase efficiency in order to fortify their relationships and grow their business. Veruna and Bold Penguin have a shared vision to empower insurance agents, so the partnership is a natural extension to bring that vision to life,” said Chris Kessler, Vice President of Corporate Development for Bold Penguin. “Small business owners can continue to lean on expert guidance from agents using the Terminal quote and bind platform, with Veruna’s agency management system to protect their investments seamlessly and efficiently.”Leaders in the fieldFounded by insurance agents for insurance agents, Bold Penguin is dedicated to simplifying small commercial insurance. Since 2016, Bold Penguin has powered over 6M quote applications and $5B+ in premium.Veruna empowers thousands of U.S

Newswire
Oct 18th, 2023
Veruna Raises ~$10M Million Series B to Propel Insurance Tech Innovation

Leading all-in-one-CRM-AMS built on Salesforce for Independent Agents SaaS Provider Secures Series B Fundraising

Newswire
Sep 21st, 2022
Veruna Joins Guidewire Insurtech Vanguards Program

Veruna, developer of the insurance industry's leading technology solution for independent agents, announced that the company has joined Guidewire's Insurtech Vanguards program, an initiative led by property and casualty (P&C) cloud platform provider Guidewire (NYSE: GWRE). The program helps insurers learn about the newest insurtechs and how best to leverage them to improve operating results. "Our vision is to empower independent insurance businesses and drive transformative change in the industry," said Jennifer Carroll, CEO, Veruna. "The Guidewire Insurtech Vanguards program is advancing this same vision by connecting promising businesses with today's most innovative solution providers, so we're excited to be recognized for inclusion in this elite group of insurtech leaders."

Newswire
Aug 23rd, 2022
Veruna, Inc. Announces Launch Of New Website

Veruna.com now features an updated design, new interactive functionality to better reflect the company's innovative approach to technology. Veruna, developer of the insurance industry's leading technology solution for independent agents, is pleased to announce the launch of a new company website. The site, which has been wholly redesigned and enhanced with new functionality and content, is accessible now at www.veruna.com

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