Company adds Joshua Dziabiak, Co-founder of The Zebra, to its Board of Directors.
San Diego, CA – September 28 2022
XILO, a workflow automation platform for insurance agencies, today announced that it has secured $6M in seed funding. The round was led by ValueStream Ventures and includes participation by New Stack Ventures and BrokerTech Ventures.
Billions of dollars and thousands of startup entrants have flooded the insurance category in recent years, and yet insurance agents are still left with antiquated solutions that often fail to meet the demands made by today’s modern consumer. “Most of the funding and innovation has been centered around the insurance carriers, or direct-to-consumer,” says Jon Corrin, Co-founder and CEO of XILO, “the agent sector has been seemingly overlooked, despite its continued growth and the rise of digital insurance products.” XILO’s platform seeks to change this pattern by equipping agents with a modern technology stack that automates back-office agency tasks, reduces data entry, and creates a more seamless connection between online and offline experiences. “Agents have differentiators that technology can’t solve for - like their personalized expertise, locality, and the relationship factor – all of which play a critical role for a product that’s typically difficult to navigate for consumers. We want to automate the time-draining stuff that keeps agents from doing what they do best: building relationships.”
The insurance industry in the US is governed by 50 different bodies - one per state. This fragmentation, along with the state-by-state nuances that come with it, have created significant barriers for insurance carriers to scale with a one-size-fits-all approach. Agents have been stuck in the middle, often forced to either repeat laborious cycles or stitch pieces together across multiple systems. XILO, which launched in 2020, has seen early traction with its no-code workflow automation platform. “We give agents the power to put their business on auto-pilot”, says Eli Zaragoza, Co-founder of XILO. “From lead generation to policy sales and lifecycle management, we’re building a centralized hub that brings people, data, and systems together.”
XILO has grown over 500% and rolled-out 20 platform integrations for both personal and commercial agencies in the past 18 months. Current product features include customizable quoting flows, cross-channel marketing analytics, and single-click platform connectors. The additional capital will be used to support the company’s growth objectives and to expand its product offering further up-market.
In addition to the new funding, XILO has also announced that Joshua Dziabiak, serial entrepreneur and Co-founder of The Zebra, has joined the company’s Board of Directors. Joshua launched The Zebra in 2012 and played a key role in shaping The Zebra brand into one of the largest insurance marketplaces in the US. "XILO has a vision to solve legacy industry problems that I've experienced firsthand," Dziabiak said. "The team has taken a unique approach to workflow automation, one of which has already demonstrated meaningful value creation for agents across the country. I'm thrilled to join in their journey and to provide support as they expand the platform moving forward."
XILO is an automation platform designed specifically for the insurance industry. With its no-code approach to automation, XILO equips insurance agencies with cutting-edge tools for serving today’s modern consumer. The platform seamlessly connects legacy insurance systems, automates repetitive workflows, and creates a more streamlined customer journey. Founded in 2018, XILO has onboarded hundreds of agencies and deployed platform integrations with over 30 insurance-based systems across all major lines of insurance.