Resurgens Technology Partners has made an investment in AgencyBloc Inc, an agency management system provider for independent insurance agencies. No financial terms were disclosed.
Atlanta, GA and Cedar Falls, IA (October 7, 2021) – Resurgens Technology Partners, a software-focused private equity firm, is pleased to announce a strategic investment in AgencyBloc, Inc., a leading agency management system provider for independent insurance agencies.
The company’s core solutions include a purpose-built CRM, a unique commissions processing module and an integrated marketing automation and sales pipeline tool. Deployed as a cloud-based SaaS solution, the feature-rich, multi-tenant platform is deeply embedded into its users’ workflows through a broad variety of APIs and integrations.
With more than 270 product releases since 2015, AgencyBloc is committed to partnering with its customer base to identify opportunities to innovate and expand product functionality. With a diverse customer base of nearly 3,000 insurance agencies in the U.S., the company’s solutions are purpose-built and help agents drive efficiencies in their business. AgencyBloc’s intuitive and user-friendly platform makes them the #1 agency recommended management system with a customer satisfaction rating of 98%.
“Our clients are at the forefront of every decision at AgencyBloc, and we continuously improve our platform to better serve their interests. We are very excited to partner with Resurgens in support of our mission,” commented AgencyBloc Co-Founder and CEO Adam Lewis. “This partnership will allow AgencyBloc to further invest in the business, develop additional solutions that will improve our clients’ performance and enhance the way we serve our clients.”
The partnership between AgencyBloc and Resurgens will aim to solidify the company’s leadership in the market by launching additional products and features, improving go-to-market strategies and expanding the team.
“Partnering with Resurgens will help bring about the next phase of growth and innovation for AgencyBloc,” said Co-Founder and CTO Cory Schmidt. “We knew from the get-go—and it has been repeatedly confirmed—that Resurgens has the same ethos and vision and will be a great partner for the future of the company.”
“Adam and Cory—along with the entire AgencyBloc team—have built a great company and have become a significant player in the fast-growing market for insurance software,” commented Resurgens Managing Director Fred Sturgis. “We expect to see agencies continue to leverage technology to improve efficiencies, which represents a remarkable opportunity for AgencyBloc. We are excited to partner with the team to continue to build on the company’s leadership position.”
This investment marks Resurgens’ seventh platform investment and thirteenth acquisition, continuing to expand on the firm’s mission and momentum of partnering with lower middle-market application and IT/infrastructure software businesses.
Terms of the transaction were not disclosed. Morgan Partners acted as exclusive financial advisor to AgencyBloc.
About AgencyBloc, Inc.
AgencyBloc is the #1 agency recommended management system, helping insurance agencies secure and grow their business with an industry-specific CRM, a unique commissions processing module and an integrated marketing automation and sales pipeline tool. Headquartered in Cedar Falls, IA, AgencyBloc was founded in 2008.