Plum Life: Raises $5.3M in Seed Funding

Plum Life Raises $5.3M in Seed Funding

• Plum Life, Inc., a Berkeley Heights, N.J.-based digital life insurance sales platform, closed a $5.3M seed funding round
• The round was led by ManchesterStory with additional participation from MTech Capital, Sonostar Ventures and other investors
• The company intends to use the funds to attract new insurance agents to its platform, make several key hires, continue to enhance the platform and drive sales through targeted advisor outreach
• PlumLife offers agents a fully digital selling experience enabling an efficient life insurance sale
• The platform is designed to be a one-stop-shop for agents to manage the entire sales process: from application submission to case management and commission reconciliation
• Founded in 2020, the company leverages its proprietary technology platform fueled by Machine Learning, behavioral science, AI and Swiss Re’s Magnum