Digital insurer Ranger said it just closed a $5.25 million seed round to further its development of a digital platform that promises to modernize the role of insurance agents, evolving their role into a home protection advisor.
The round was led by Lerer Hippeau with participation from former Major League Baseball player Alex Rodriguez, along with FirstMinute Capital, Slow Ventures, Global Founders Capital, Raven1 Ventures and Montauk Ventures.
Ranger CEO Greg Garrison said his firm will use the seed funds to build out Ranger’s digital agent platform, develop its product suite and begin recruiting top agents in its initial operating states of Arizona, Indiana and Ohio. The company said its platform will be available this fall.
With Ranger’s technology, agents are able to replace manual transaction workflow with an all-digital platform gain instant access to underwriting support, and digitally store all policies and forms. The platform also includes marketing and support tools.
Garrison, a 15-year insurance veteran who spent almost a decade at global insurer AIG, says he saw “firsthand how much better insurance and protection policies worked in other countries, where the agent model was properly supported and encouraged.”
New York-based Ranger was incubated out of Montauk Ventures’ Studio Program, the venture capital firm led by Casper co-founder and former CEO Phillip Krim.
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