Live Oak Ventures Participates in Series B Funding from AgencyKPI | Your money

WILMINGTON, NC, June 08, 2022 (GLOBE NEWSWIRE) — Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc., announced an investment in AgencyKPI, developer of the first business intelligence platform designed to process and manage data in the insurance industry.

Live Oak participated in Series B round of funding that will support the software company’s growth and add resources to continue developing cloud-based software that strengthens the ability of independent insurance agencies to assess data for stay agile and profitable.

“As a bank that lends to independent insurance agencies across the country, we see the extraordinary value that AgencyKPI brings,” said Stephanie Mann, executive vice president of corporate development and strategy at Live. Oak. “Their business intelligence platform drives transparency, efficiency and better overall performance for our clients. Live Oak is excited to invest in companies like AgencyKPI that leverage next-generation technology to support business growth.

The insurance industry operates on fragmented legacy systems, and AgencyKPI set out to help solve the problem with an intelligent platform that seamlessly connects data used across networks, brokers, agencies, carriers and wholesalers so that independent insurance agents can gain operational efficiency.

“We are thrilled to have such a strong innovator as Live Oak Ventures participate in our Series B. Live Oak understands the insurance industry and clearly agrees with us that insurance companies, networks and independent agencies will all benefit from a deeper understanding of their data. They believe in our vision and support our direction and we couldn’t be more delighted to have them among our investors,” said Bobby Billman, co-founder of AgencyKPI. .

About Live Oak Ventures Live Oak Ventures, a wholly owned subsidiary of Live Oak Bancshares (NASDAQ: LOB), is a fintech-focused investor focused on bringing innovation and performance excellence to the forefront of the banking sector. By investing in companies that are accelerating the delivery of open digital solutions to market, Live Oak Ventures aims to change the landscape of financial services and small business banking.

About AgencyKPI AgencyKPI develops the first integrated business intelligence platform for insurance networks, independent agencies and insurers to address and manage the glut of data produced in the insurance industry. AgencyKPI has the fundamental belief that insurance agencies, networks, carriers, brokers and wholesalers want to deepen their relationships through mutual understanding, as well as harmonizing and balancing their collective efforts. At a time when most Insurtech companies say disruption is the way of the future, AgencyKPI develops software platforms that support harmony, understanding and balance among all industry partners and vendors. insurance. AgencyKPI was co-founded by Trent Richmond and Bobby Billman. The company is based in Austin, Texas, and also has remote offices located in Iowa, Kansas, Florida, and Oklahoma. To learn more about AgencyKPI, Inc., visit www.agencekpi.com.

Contact: Claire Parker Live Oak Bank, Senior Vice President of Corporate Communications 910.597.1592 [email protected]

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