Lightyear Capital LLC has made an investment in Datalot Inc, a provider of mobile and web marketing tech solutions for the insurance sector. No financial terms were disclosed. Josh Reznick, a founder and CEO of Datalot and other members of management, will remain “significant” shareholders in the company.
New York, NY – October 3, 2017 – Lightyear Capital LLC (“Lightyear”), a New York-based private equity firm focused on financial services investing, announced that an investment fund affiliated with Lightyear has invested in Datalot Inc. (“Datalot”), a leading provider of mobile and web marketing technology solutions for the insurance industry. Josh Reznick, Founder and Chief Executive Officer of Datalot, together with other management, remain significant shareholders in the business. The transaction terms were not disclosed.
Founded in 2009, Datalot connects consumers with insurance carriers and agents. The Company has built a marketplace for insurance shoppers by leveraging its technology platform and integrated contact center operations to qualify and efficiently route consumer inquiries for primarily auto, home, health and life insurance products. Datalot’s strategic vision is founded upon the growth in mobile marketing and consultative phone sales, which are capitalizing on voice being an increasingly native channel for a mobile-first world. The Company delivers qualified consumer inquiries as “warm” calls to insurance carriers and agents with the goal of improving sales conversion rates and lowering customer acquisition costs. Datalot’s current clients include several Fortune 100 insurance carriers. The Company is headquartered in Brooklyn, New York with additional offices in Florida and Colorado.
Mark F. Vassallo, Managing Partner of Lightyear commented, “Datalot operates a highly scalable platform that we believe is engineered for future growth, and we are pleased to have become an investor in the company. We look forward to working with the Datalot management team as they carry out their growth strategy.”
Josh Reznick, Founder and Chief Executive Officer of Datalot stated, “Insurance carriers and brokers are increasingly relying on direct and digital channels to drive customer acquisition and we will continue to capitalize on those trends. We are excited to enter our next phase of growth, and we are very pleased to have the support of Lightyear as we continue to expand the business.”
Datalot was founded with the goal of addressing systemic inefficiencies in digital advertising where a consultative sale is required. The company has built a new telephony platform specialized for converting mobile and web traffic into qualified, live phone interactions. Focused on serving the insurance industry, Datalot offers a self-serve solution for insurance carriers and agents to access transaction-ready consumers via live qualified calls and achieve complete customer attribution and visibility throughout the sales cycle.
About Lightyear Capital LLC:
Lightyear Capital is a financial services-focused private equity firm based in New York. Lightyear, through its affiliated private equity funds, makes primarily control investments in North America-based, middle-market financial services companies. Lightyear targets investments across the financial services spectrum, including asset management, banks, brokerage, financial technology, insurance, and specialty finance. The firm brings unique strengths and discipline to its investment process, as well as operating, transaction, and strategic management experience, along with significant contacts and resources beyond capital. For more information, please visit http://www.lycap.com.