Matic Secures $30M from Vistara Growth to Accelerate Embedded Insurtech Expansion

(COLUMBUS, Ohio), January 7, 2025 — Matic Insurance Services Inc. (“Matic”), a leading insurtech platform, has secured $30 million from Vistara Growth, a provider of flexible growth capital to software and technology enabled services companies. 

Matic provides an embedded insurance platform to mortgage servicers, originators, banks and other financial institutions to seamlessly offer home, auto, and other personal lines products to their customers. Matic’s platform enables their partners to offer competitive insurance policy options for their customers in seconds and purchase selected policies in minutes. Since Matic’s go-to-market launch in 2017, the company has partnered with over 100 organizations, which represent 20% of the U.S. mortgage market. Matic’s marketplace is powered by over 60 (and growing) insurance carriers offering competitive options nationally. 

“Matic’s technology platform is a natural extension for its distribution partners who are looking to provide customers with a more transparent and streamlined value-oriented experience while creating additional revenue streams. With additional capital, the company is positioned to capture additional share of the personal lines’ insurance market through a combination of its leading technology capabilities and unique embedded distribution model.” said Neil Kenley, Principal at Vistara Growth. 

Proceeds from the financing will be invested to increase the breadth of distribution partnerships, continued development of Matic’s end-to-end proprietary technology platform, and further differentiation of its best-in-class customer experience. Matic’s tenured management team has deep insurance and financial services industry expertise and has carefully developed their operational model, whether its purpose-built in-house tech stack or go-to-market approach, which enables a superior shopping experience delivered within its distribution partners environment. 

“We’re thrilled to partner with Vistara Growth, whose deep expertise in supporting technology-driven companies makes them the ideal partner for Matic as we continue to scale,” said Stuart Rhodes, CFO at Matic. “Their flexible capital will help us expand our reach, enhance our in-house technology, and strengthen our partnerships with financial institutions and insurance carriers. Matic was founded on the belief that buying insurance should be simple, transparent, and elegantly integrated into the customer journey. With Vistara’s support, we’re confident in our ability to lead the transformation of embedded insurance solutions and deliver even greater value to our partners and their customers.” 

 

About Matic 

Since its founding, Matic has changed the landscape of the insurtech industry by integrating insurance within the home and auto ownership experience. Today, Matic’s digital insurance marketplace has over 60 home and auto carriers, as well as distribution partners in industries ranging from mortgage origination and servicing to banking, real estate, personal finance, and more. With a single-minded focus on advocating for policyholders, Matic has created an easy and transparent shopping process, saving customers hours of work and over 30% in premiums each year. For more information, visit matic.com. 

About Vistara Growth 

Vistara Growth provides highly flexible growth debt and equity solutions to leading technology companies across North America. Founded, managed, and funded by seasoned technology finance and operating executives, “Vistara” (Sanskrit for “expansion”) is focused on enabling growth for the ambitious entrepreneurs we invest in, our investors, our people, and the communities we operate in. For more information, visit vistaragrowth.com.