Consumer United in Boston raises $52.5 million in financing to expand

Consumer United, Inc., an online insurance agency started six years ago, has raised $52.5 million in financing to continue its expansion across the country.

The Boston company raised $22.5 million in venture capital in a round led by Boston venture capital firm Spark Capital and New York investment company Thayer Street Partners, plus another $30 million in other available credit from Thayer Street.

Consumer United has 250 workers and said it plans to hire “significantly” more in the next year.

Advertisement - Continue Reading Below

As part of the financing, Thayer Street founder Josh Koplewicz and Spark general partner Mo Koyfman will join Consumer United’s Board.