Sales distribution software maker
iPipeline Inc. has landed a hefty $18 million Series A round of funding from NewSpring Capital and Fidelity Ventures on the strength of a hosted business model for selling to insurance companies, banks, broker/dealers and other financial services customers.
Initial institutional funding for the 12-year-old company came alongside additional investment from founders and management, including Cary Toner, the company's majority owner and former president of The
Toner Organization, the nation's second-largest independent insurance
brokerage organization. iPipeline delivers a suite of sales distribution software as a service, and built its initial success in insurance, expanding to broader markets over time.
iPipeline's products include forms and content for marketing, sales and faster processing of transactions, and the new money will allow it to continue to expand product offerings and vertical markets.
-- Clifford Carlsen
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