# Afficiency

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/afficiency

- Industry: Insurance
- Headquarters: New York, US
- Website: www.afficiency.com
- Total disclosed funding: $7M
- Latest round: Series A (Apr 5, 2022)
- Investors on record: 4

## About

Based in New York, US, and founded in 2018 by Mark Scafaro and Ravi Arasan, Afficiency operates as an Insurtech platform that helps with the end-to-end life insurance buying process. In April 2022, Afficiency raised USD 7 million in a Series A investment round led by IA Capital Group with participation from Impression Ventures, The Savings Bank Mutual Life Insurance Company of Massachusetts (SBLI), and Western & Southern Financial Group. As of 2022, the company is being led by its CEO and Co-Founder Mark Scafaro. 

Afficiency offers life insurance products through its digital platform all via proprietary API. The products include term, whole life, disability, and universal life insurance - underwriting and policy quoting, and product design as well as reinsurance partnerships.   

Since its inception and until 2022, the company has generated a 1000% YOY revenue growth.

## Funding rounds

- Series A, Apr 5, 2022, $7M — IA Capital Group, Western & Southern Life Insurance, Saving Bank Life Insurance, Impression Ventures

## Investors

- IA Capital Group (https://capitalatlas.ai/funds/ia-capital-group) — Series A
- Western & Southern Life Insurance — Series A
- Saving Bank Life Insurance — Series A
- Impression Ventures (https://capitalatlas.ai/funds/impression-ventures) — Series A