US-based insurtech Equal Parts has raised $23 mn in a Series A round to expand its acquisition strategy and scale its technology platform across the independent agency market.
The round was led by Inspired Capital, with participation from Equal Ventures, Max Ventures, Genius Ventures and a group of lending partners. Including this raise, the company reports $50 mn in total acquisition capital.
Founded in March 2025, Equal Parts acquires independent insurance agencies and integrates them into a shared operating system designed to standardise workflows and automate back-office functions.
The company presents itself as both capital partner and operational infrastructure for owners managing succession or growth constraints.
The proprietary platform is built to absorb acquisitions, align processes and deploy AI tools across servicing, administration and reporting.
The model combines relationship-driven agency practices with automation, aiming to free owners to focus on client retention and revenue expansion.
Proceeds from the round will fund additional agency acquisitions and further development of AI-driven functionality.
The company said it intends to extend the geographic reach of acquired agencies while improving operational efficiency and financial performance.
Since launch, Equal Parts reports revenue growth of nearly 40% across acquired agencies and bottom-line improvement approaching 50%.
The firm plans to acquire 25 agencies this year and has stated an ambition to reach $1 bn in premiums within 24 months.
The company was founded by Mike Witte, Mike Meller and Graham Yennie, who have backgrounds in scaling service businesses through acquisition and building AI-enabled operating platforms.
Recent acquisitions include Strategic Insurance in New Mexico, along with Austin-based Assurely and Lumen Insurance.
Chief executive Mike Witte said demographic shifts within the agency sector are accelerating ownership transitions.
This funding allows us to expand our reach as the operating platform independent agency owners need and the acquisition partner they deserve. Half the industry is retiring in the next decade.
Mike Witte, Equal Parts CEO
“We allow owners to exit without sacrificing their agency’s culture, autonomy or client-focused values. Instead, we carry their legacies forward in a new way, with equal parts technology and tradition,” Mike Witte said.
Inspired Capital general partner Mark Batsiyan said the firm views smaller agencies as undercapitalised despite strong client relationships, positioning Equal Parts as a consolidator built around technology-enabled operations rather than traditional private equity integration.
