JennyLife, a life insurance provider for women and mothers, announced Thursday that it closed on a $3.5 million Series A round, bringing its total funding raised to $5 million.
The Seattle-based startup was founded in 2017 by insurance industry veterans Chirag Pancholi and Lief Larson with the goal of helping women and mothers find affordable life insurance fast, without having to endure any health exams and extensive paperwork. Users simply call or text JennyLife for a free, personalized quote and apply on the app. They should receive same-day decision and coverage details in a matter of hours, according to the company.
“JennyLife is transforming the way people think about life insurance,” Pancholi said in a statement. “In this business climate, people are hungrier than ever for information about their financial security. We’re improving the breadth, depth and quality of our offerings to support the growing interest we’re seeing from families.”
According to GeekWire, JennyLife has experienced an 800 percent increase in customer engagement since the novel coronavirus began spreading in the United States. The company says it will use this new funding to help fuel its growth to support this recent spike in demand.
