GloveBox Startup Story: The Journey Behind Raising Capital

Portfolio

There are many talented entrepreneurs that are often overlooked for capital opportunities, either because of where they are building their company or come from a unique background. We look where others don't and support opportunities others can't.    

Whether it's through cold outreach or meeting for a coffee chat, we believe you don't need a warm intro to raise your first round of capital. We're excited to share this story of GloveBox, a BIP Ventures portfolio company, and how our initial conversation stemmed from cold outreach.    

GloveBox is a centralized mobile and web application allowing insurance policyholders to access their policy documents, pay a bill, initiate a claim and so much more, regardless of which carrier their policies are written with. Ryan Mathisen, CEO and Co-Founder of GloveBox, cold-called BIP General Partner Dan Drechsel through Crunchbase, and after due diligence and discussion, GloveBox joined our portfolio.    

"We are excited to be working in InsurTech with a phenomenal team at GloveBox. Having invested in and experienced in great teams making significant innovations within capital markets, payments, banking tech, and other areas of fintech, we think insurtech is an area where we will see significant innovation over the next several years. We also believe GloveBox will be one of the key leaders in this space," said Dan Drechsel.

GloveBox was made by insurance agents, for insurance agents.    

The goal of the startup is to enhance the insurance customer experience while reducing serving costs at the same time. Ryan, along with his co-founders Sean Mulhern and Andy Mathisen (his brother), has over 30 years of experience within insurance, and Ryan and Andy come from a family-owned insurance agency background. Their passion and experience allow them to create tech-based products valuable for insurance agents and their customers.    

GloveBox is currently doing a docuseries on their fundraising process that outlines their journey through fundraising and their relationship with our team at BIP Ventures. We encourage you to watch and learn the real process behind funding and the grit needed to succeed. We are extremely proud to be part of the GloveBox journey and excited to build with the team.

Watch the docuseries here.    

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