Digital Insurance Broker Mylo Announces $28 Million in Funding
Mylo, an insurance digital broker, raised $28 million in a Series A funding round led by Guggenheim Partners. Waller Helms Advisors acted as exclusive financial advisor to Mylo and Lockton Companies in the transaction.
Mylo was launched by Lockton Companies in 2015 to provide a quick, convenient way for small businesses and individuals to get customized advice, compare and purchase insurance products online, and consult with licensed agents. According to the company, Mylo leverages its 50 years of experience to get to know their clients’ needs, make coverage recommendations, and match those with carrier appetite at the best value, allowing individuals and small businesses to have confidence in their coverage.
Using AI, design thinking, and customer insights, Mylo strives to offer a broad set of insurance products and continue to evolve the shopping experience.