EverQuote is an online car insurance shopping service founded in 2011 and headquartered in Cambridge, Massachusetts.
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Description
EverQuote compares rates from more than 20 insurance carriers and offers quotes, based on similar driving profiles from existing clients.
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History
EverQuote was founded in 2011 by Seth Birnbaum and Tomas Revesz, who met at MIT. Originally named AdHarmonics, the company was founded in Cambridge, Massachusetts.
EverQuote was a part of the Cogo Labs incubator program run by the Massachusetts based venture capital firm Link Ventures. In 2013, the company moved to its own office space.
In May 2015, MicroStrategy founder Sanju Bansal and Vestmark CEO John Lunny became members of the board of directors. In October 2016, EverQuote received $23 million in Series B funding via Savano Capital Partners, Stratim Capital LLC and Oceanic Partners, and T Capital Partners.
In 2017, Everquote added $13 million to its previous $23M funding. At the same time, they added Mira Wilczek, CEO of Cogo Labs, to their board of directors, where she replaced Jonathan Shapiro.
Advertising
In 2016, EverQuote began an Internet advertising campaign featuring images of two young employees (not always the same two employees,) with text such as "How 2 math grads are disrupting the insurance industry." This juxtaposition suggested to many that the young people in the photo were founders of Everquote.
In response to controversy over the ads, co-founders Birnbaum and Revesz said that the photos were meant to showcase a "young, diverse" team at EverQuote. As of March 2018, the ads were suspended from circulation.
EverDrive app
In 2016, EverQuote launched a new smartphone app called "EverDrive" to help drivers measure their driving safety, based on five criteria: phone use, speeding, accelerating, cornering and braking. Between 1/4 and 1/3 of drivers using this app upgraded their safety skills, over a period of four months, to earn better scores from the app.
See also
- Online marketplace
References
External links
- EverQuote website
- Cogo Labs website
- Link Ventures website
Source of article : Wikipedia
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