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Insurance Broker Newfront Hits $2.2 Billion Valuation in Latest Funding Round

  • Investors in latest round include Goldman Sachs and B Capital
  • Startup plans to build out tech platform, geographic footprint

Newfront, the brokerage that merged with ABD Insurance and Financial Services, notched a $2.2 billion valuation in its latest funding round from investors including Goldman Sachs Group Inc.’s asset manager. 

The company raised $200 million from investors including the growth equity business within Goldman Sachs Asset Management and B Capital, Newfront said Tuesday in a statement. The San Francisco-based company expects the money to help build its technology platform and expand geographically.