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KKR-Led Funding Round Gives $100 Million to Startup Policygenius

Online insurance startup Policygenius raised $100 million from investors including KKR & Co. and venture capital operations backed by Axa SA, Massachusetts Mutual Life Insurance Co. and Transamerica.

The company has annual revenue of $60 million, which is 10 times higher than in 2017, when it last completed a round of fundraising, Policygenius said in a statement Thursday announcing its Series D funding. Policygenius, an online marketplace for insurance, said it plans to use the money for hiring and adding products.