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ProspX, an Austin, Texas-based startup that develops collaboration and automation application for insurance industry, has raised $6.5 million in first round of funding from Adams Capital Management. The funding will be used to expand the development and marketing of the solutions.
ProspX has developed a collaborative online service that lets insurance agents, brokers and carriers accelerate the selling process.
“Our goal is to improve many of the inefficiencies that exist in today’s commercial insurance industry,” said Todd Young, CEO of ProspX. “With the support of Adams Capital Management and our talented team, we can execute on our vision of enabling insurance entities to grow and profit from the opportunities automation can provide to this expanding market.”
