InsurTech startup iLife said to close seed round on $4m

Life insurance sales automation platform iLife has reportedly collected $4m in its seed round.

Foundation Capital acted as the lead investor, with commitments also coming from AME Cloud Ventures and Cherubic Ventures, according to a report from Crunchbase News.

With the equity burst, the company is hoping to expand the size of its team.

The company is a life insurance sales platform designed to help insurance producers increase their online revenue, improve digital experiences and bolster sales cycles. Through the platform, a customer will answer onboarding questions, compare plans, submit applications and health records, and communicate with sellers.

Clients can offer their customers 170,000 policy options and multi-carrier applications.

Foundation Capital has invested into a number of FinTech companies this year. The investment firm recently contributed to the $13m funding round of gig worker tax platform Keeper Tax.

Another recent investment was into API developer Weav, which raised a total of $4.3m.

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