Radar · Insurance Distribution in Minnesota
Best Insurance Distribution Companies in Minnesota, United States
The 52 best Insurance Distribution companies in Minnesota, United States in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Devoted Health.
By Rohit KhannaTrends & Stories
52companies tracked
$4.4Bdisclosed funding
2unicorns
3have raised
FLIAR INTELLIGENCE · INSURANCE DISTRIBUTION × MINNESOTA
Our analysis of 50 Insurance Distribution companies
$16.7b in tracked funding; 79% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2024.
50companies analysed
79%cloud-native stacks
2024funding peak (by rounds)
3unicorns
2009median founding year
82kcombined LinkedIn audience
90%of audience held by top 3
4companies hiring publicly (12 mo)
Ranked: Best Insurance Distribution companies in Minnesota
| # | Company | Disclosed funding | Last round | Stage | Founder | Founded | Tech stack | Patents & IP focus | Recent signals |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Devoted Health 🦄 Provider of healthcare insurance plans for individuals 87Funding top 10%Tech top 20%Moat top 20%Market top 25% All 11 signals ▾Fundingtop 10% Techtop 20% Moattop 20% Markettop 25% Producttop 27% Talenttop 28% Growthtop 32% Innovationtop 33% Customersbottom 45% Globalbottom 39% Newsbottom 18% Funding: Raised $2.3B across 9 rounds · 9 rounds over 9 yrs (1.0/yr) Tech: 37 technologies across 7/8 capability areas · Cloud: Amazon Cloudfront, Amazon S3 rank vs industry peers · Fliar Intelligence Index 87/100 | $2.3B | 5 mo ago | Series F | Todd Park Co-Founder | 2017 | PrismicApple iCloud MailYouTube+22 | — | — |
| 2 | Bright HealthCare 🦄 Online health insurance platform for individuals and businesses 45Moat top 10%Funding top 26%Market bottom 49%Talent bottom 49% All 5 signals ▾Moattop 10% Fundingtop 26% Marketbottom 49% Talentbottom 49% Globalbottom 37% Moat: Editorial + unicorn rating 10/10 · Unicorn Funding: Raised $1.6B across 5 rounds · 5 rounds over 10 yrs (0.5/yr) rank vs industry peers · Fliar Intelligence Index 45/100 | $1.6B | 70 mo ago | Series E | Mike Mikan CEO | 2015 | — | — | — |
| 3 | Constellation Provider of insurance brokerage services 22Funding top 32%Patents top 47%Moat bottom 49%Global bottom 43% All 7 signals ▾Fundingtop 32% Patentstop 47% Moatbottom 49% Globalbottom 43% Marketbottom 38% Innovationbottom 37% Techbottom 21% Funding: Raised $500M across 1 rounds · 1 rounds over 7 yrs (0.1/yr) Patents: 12 patents matched (strict assignee match) · Latest publication 2015 rank vs industry peers · Fliar Intelligence Index 22/100 | $500M | 81 mo ago | Series D | — | 2015 | — | 12 patents Network reliability and security: hardware failure handling, frame switching, routing exchange, and bridging. | — |
| 4 | AdvisorNet Financial Provider of independent financial advisory services | $34M | 63 mo ago | Series A | — | 1959 | WordPressMySQLPHP+19 | — | — |
| 5 | CSDZ P&C insurance broker | $2M | 113 mo ago | Series A | Scott Egginton CEO | 1919 | — | — | — |
| 6 | Trean Corporation Provider of insurance management, consulting, and underwriting services | — | 131 mo ago | Late Stage | Andrew Brien President and CEO | 1996 | Apple iCloud MailMicrosoft 365Salesforce+10 | — | — |
| 7 | Christensen Group Life insurance brokerage firm | — | 211 mo ago | Funding Raised | Bruce Christensen President CEO | 1952 | WebflowAmazon Web ServicesGSAP+23 | — | — |
| 8 | 121 benefits 121 Benefits is an employee benefits company. | — | — | Acquired | — | 2016 | — | — | — |
Top 7 Insurance Distribution companies in Minnesota
#1
Series F · Eagan, Minnesota · founded 2017 · 1841 employees$2.3Braised▾
Series F · Eagan, Minnesota · founded 2017 · 1841 employees
Provider of healthcare insurance plans for individuals. It offers medicare plans and insurance benefits for various healthcare services with benefits and savings, including dental and over-the-counter benefits. It also offers plans for doctor visit, dental and vision protection, hospitals treatment coverage, and more. Also offers insurance comparison guide devoted to health.
Fliar Intelligence Index™ 87how this company ranks against its industry peers
Funding
top 10%Tech
top 20%Moat
top 20%Market
top 25%Product
top 27%Talent
top 28%Funding: Raised $2.3B across 9 rounds · 9 rounds over 9 yrs (1.0/yr) · Last round Series F (Jan 2026)
Tech: 37 technologies across 7/8 capability areas · Cloud: Amazon Cloudfront, Amazon S3 · Devops: Nginx
Moat: Editorial + unicorn rating 10/10 · Decacorn · 9 curated direct competitors tracked
Audience (LinkedIn): 64k LinkedIn followers — 78.4% of this cohort's audience
Hiring (LinkedIn): 3 hiring posts in 12 mo (public) · hiring: Preventative Primary Care APP, NPs/PAs
Activity (LinkedIn): 3 awards announced in 12 mo
Funding rounds
- Jan 2026Series F$317M
- Nov 2025Series F$48M
- Aug 2024Series E$112M
- Dec 2023Series E$175M
Founders & team
Investors
Andreessen Horowitz, Uprising Capital, F-Prime Capital, Venrock, Obvious Ventures, Cox Enterprises
Tech stack
Amazon CloudfrontAmazon S3Amazon Web ServicesAnt DesignApolloApple Icloud Mail
#2
Series E · Minneapolis, Minnesota · founded 2015 · 47 employees$1.6Braised▾
Series E · Minneapolis, Minnesota · founded 2015 · 47 employees
Online health insurance platform for individuals and businesses. It offers solutions for dental & vision coverage, prescription-based medicine, mental health coverage, and more. It also provides a network of doctors, clinics and hospitals for a better healthcare experience for individuals.
Fliar Intelligence Index™ 45how this company ranks against its industry peers
Moat
top 10%Funding
top 26%Market
bottom 49%Talent
bottom 49%Global
bottom 37%Moat: Editorial + unicorn rating 10/10 · Unicorn
Funding: Raised $1.6B across 5 rounds · 5 rounds over 10 yrs (0.5/yr) · Last round Series E (Sep 2020)
Market: 47 employees · Unicorn (valued $10.6B)
Funding rounds
- Sep 2020Series E$500M
- Dec 2019Series D$635M
- Nov 2018Series C$200M
- May 2017Series B$160M
Founders & team
Investors
Bessemer Venture Partners, New Enterprise Associates, Flare Capital Partners, Waterline Ventures, Greenspring Associates, Greycroft
#3
Series D · Minneapolis, Minnesota · founded 2015 · 189 employees$500Mraised▾
Series D · Minneapolis, Minnesota · founded 2015 · 189 employees
Provider of insurance brokerage services
Fliar Intelligence Index™ 22how this company ranks against its industry peers
Funding
top 32%Patents
top 47%Moat
bottom 49%Global
bottom 43%Market
bottom 38%Innovation
bottom 37%Funding: Raised $500M across 1 rounds · 1 rounds over 7 yrs (0.1/yr) · Last round Series D (Oct 2019)
Patents: 12 patents matched (strict assignee match) · Latest publication 2015 · 6 distinct CPC technology classes
Moat: Editorial + unicorn rating 1/10 · IP moat: 12 patents
Funding rounds
- Oct 2019Series D$500M
Investors
CDPQ, Ontario Teachers' Pension Plan
Tech stack
Amazon ElbAmazon Web ServicesAws Certificate Manager
#4
Series A · Minneapolis, Minnesota · founded 1959 · 61 employees$34.3Mraised▾
Series A · Minneapolis, Minnesota · founded 1959 · 61 employees
Provider of independent financial advisory services
LinkedIn Pulse recent public activity · Jul 2026
Audience: 6k LinkedIn followers — 7.3% of this cohort's audience
Tech stack
Apache Http ServerBootstrapContact Form 7Core-JsFacebook PixelFont Awesome
#5
Series A · Minneapolis, Minnesota · founded 1919 · 100 employees$2.1Mraised▾
Series A · Minneapolis, Minnesota · founded 1919 · 100 employees
Operator of an insurance and surety agency intended to offer customized insurance, surety and risk management services. The company offers insurance products, surety bonds, claims management services and safety risk control enabling hospitality and leisure, manufacturing, real estate, design, construction services, transportation and oil and gas industries to manage risk effectively.
Founders & team
Tech stack
WordpressMysqlPhpWp EngineHstsCloudflare
#6
Late Stage · Wayzata, Minnesota · founded 1996—raised▾
Late Stage · Wayzata, Minnesota · founded 1996
Provider of insurance management, consulting, and underwriting services. It offers services to carriers and captives, encompassing program administration and support. The company acts as a fully outsourced management team or provides supplemental expertise to organizations needing management assistance. Its focus is on delivering innovative solutions and exceptional customer service to facilitate business growth.
LinkedIn Pulse recent public activity · Jul 2026
Audience: 3k LinkedIn followers — 3.8% of this cohort's audience
Founders & team
Investors
Altaris
Tech stack
Apache Http ServerApple Icloud MailGodaddyGoogle AnalyticsGoogle Font ApiJava
#7
Funding Raised · Eden Prairie, Minnesota · founded 1952—raised▾
Funding Raised · Eden Prairie, Minnesota · founded 1952
Life insurance brokerage firm
Founders & team
Investors
HHS
Tech stack
Amazon S3Amazon Web ServicesCallrailCloudflareCloudflare Bot ManagementCloudflare Turnstile
Funding & investor landscape
$4.4Btotal disclosed funding
5companies funded
15disclosed rounds
0rounds last 90 days
Most active investors
Bessemer Venture Partners1 rounds
Notable founders
Todd Park
Co-Founder · Devoted Health
Ed Park
Co-Founder & Co-CEO · Devoted Health
Mike Mikan
CEO · Bright HealthCare
Scott Egginton
CEO · CSDZ
Andrew Brien
President and CEO · Trean Corporation
Bruce Christensen
President CEO · Christensen Group
Prism market signals · United States · country-scoped Prism corpus, 624,631 docs
Market landscape — 10 sub-themes by coverage
Share of Insurance Distribution coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
RESEARCH SIGNALS · United States
How research on Insurtech is moving in the United States
A read on the academic research around Insurtech — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 22 United States-affiliated papers.
top research entities
- New York Life Insurance Company2
- Film Independent2
- University of Management and Technology2
- AAA Foundation for Traffic Safety1
- Temple University1
leading researchers
Maryam Saeed · Jeffrey P. Ebert · Catherine C. McDonald · Ruiying Xiong · Dina Abdel-Rahman · Neda Khan · Xin Che · Andre P. Liebenberg
▲
Breakthroughs3 · 14%
0%→0% share
0 median citations100% since 2021mostly methods-led
Breakthroughs are cooling (0%→0% of field), led by Conceptual model.
rising sub-themes (early→recent)
- Conceptual model1
- Conceptual framework1
- Marketing1
- Knowledge management1
- Originality1
Landmark Transforming life insurance buying: conceptual model for the adoption of Life InsurTech services in India · 1 cites
◆
Advancements8 · 36%
0%→0% share
2 median citations88% since 2021mostly empirical
Advancements are cooling (0%→0% of field), led by Actuarial science.
rising sub-themes (early→recent)
- Actuarial science2
- Telematics1
- Incentive1
- Poison control1
- Baseline (sea)1
Landmark Usage-Based Insurance—Impact on Insurers and Potential Implications for InsurTech · 35 cites
▼
Concerns3 · 14%
0%→0% share
0 median citations100% since 2021mostly reviews
Concerns are cooling (0%→0% of field), led by Position (finance).
rising sub-themes (early→recent)
- Position (finance)1
- Geopolitics1
- Insurance law1
- European union1
- Index (typography)1
PATENT SIGNAL · United States
Who's filing insurtech patents in the United States
United States insurtech patent filing is steady — 15 filings from 7 assignees (2018–2025), led by State FARM Mutual Automobile Ins, Grunfeld ERIC, Allstate Insurance; annual filings 1→1.
15 filings7 assigneespeak 5/yr2018–2025
filing momentum (YoY 2018–2025)
top patent filers
- State FARM Mutual Automobile Ins6
- Grunfeld ERIC5
- Allstate Insurance4
- Clover Health3
- Fiete Stephen2
- Cripe Frederick F2
- American Family Mutual Insurance1
Common questions
How many Insurance Distribution companies are there in Minnesota, United States?
Radar tracks 52 indexable Insurance Distribution companies headquartered in Minnesota, United States that meet our profile-completeness bar.
What is the total funding raised by Insurance Distribution companies in Minnesota, United States?
The Insurance Distribution companies in Minnesota, United States on this list have raised a combined $4.4B in disclosed equity funding across 5 funded companies.
Which is the highest-funded Insurance Distribution company in Minnesota, United States?
Devoted Health is the highest-funded Insurance Distribution company in Minnesota, United States, with $2.3B in disclosed equity funding.
How many Insurance Distribution companies in Minnesota, United States are funded?
5 of the 52 Insurance Distribution companies in Minnesota, United States on this list have disclosed at least one equity funding round.
How many Insurance Distribution unicorns are there in Minnesota, United States?
2 Insurance Distribution companies in Minnesota, United States on this list are valued at $1B or more.
Who are the top investors in Minnesota, United States Insurance Distribution companies?
The most active investors in Minnesota, United States Insurance Distribution companies on this list include Altaris, 7GC, ARTFO Holdings, Andreessen Horowitz, Ardan Equity Partners.
Rohit KhannaTrends & Stories
Rohit lives in the feed. He covers what's moving right now — the funding rounds, launches and shifts breaking across the trade press — and ties them back to where the sector is heading.