Goldman Sachs AM Leads Series C in DealerPolicy
Posted on 08/30/2021
Colchester, Vermont-based DealerPolicy is an insurance marketplace for automotive retail. The capital raise was disclosed on August 26, 2021. DealerPolicy raised US$ 110 million in Series C funding. Goldman Sachs Asset Management led the round. Goldman Sachs invested through its Growth Equity business within Goldman Sachs Asset Management with participation from existing investors including 3L Capital and Hudson Structured Capital Management Ltd. (doing its re/insurance business as HSCM Bermuda). The new investment will be used to accelerate the growth of the company’s next-generation finance and insurance offerings for both dealers and car buyers, enabling automotive insurance to be seamlessly integrated online and at the point-of-sale. Goldman Sachs’ Paul Pate will join the company’s board of directors. DealerPolicy Insurance is a licensed insurance agency, with licenses to operate in the lower 48 states.