Gabi Raises $9.5 Million in Series A Financing

Gabi, which provides a free, online “personal insurance shopper,” has raised $9.5 million in Series A funding led by Canvas Ventures. Also joining the round were Correlation Ventures, Northwestern Mutual Future Ventures, Securian Ventures and prior investors A.Capital Ventures and Project A.

Gabi, based in San Francisco, automates insurance shopping. The company began offering auto and home insurance in California in 2017. Today Gabi-sourced insurance is available in California, Ohio, Texas, North Carolina, Pennsylvania and Arizona. Gabi connects to the current auto or home insurance account of the customer, compares prices, identifies the best offers, and presents opportunities to switch. The customer then manages all insurance products using Gabi’s app.

Unlike existing auto comparison shopping sites, Gabi offers customers a service agent to speak with if desired, or they can interact solely with the app. If customers choose to switch at any time, they are not required repeatedly to fill out long insurance forms, and they are not spammed with unwanted calls or emails.