Newfront, the tech-driven insurance brokerage firm based in San Francisco, is proud to be named a Forbes Best Startup Employer for 2023.

To be considered for this award, companies must be headquartered in the U.S., founded between the years 2013 and 2020, and employ a minimum of 50 people. Since 2017, Newfront has grown tremendously with nearly 1,000 team members. The company is also a top 40 broker based on revenue.

“This honor serves as further validation for Newfront’s mission and culture,” said Newfront CEO Spike Lipkin. “We are building the modern insurance platform for clients, colleagues, and trading partners by combining world-class insurance and technology talent in a collaborative culture.”

This is the second consecutive year Newfront has made the prestigious list. Winners of the award, presented by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider, were selected based on an extensive judging process. The evaluation of companies was based on three different criteria, including:

Employee Satisfaction: Measured through employee retention and reviews on the employer's brand.

Employer Reputation: Company-specific algorithm-based text analysis categorized as positive, neutral, or negative was extracted from social media channels such as news sites, micro-blogs, blogs, and social networks.

Company Growth: Comprehensive evaluations of website traffic, headcount growth rates, and job openings.

The final list recognizes the top 500 companies based on the analysis of more than seven million data points with more than 11,000 companies in consideration. To view the full list of winners, visit Forbes’ America’s Best Startup Employers.

Learn more about careers at Newfront and read about how DE&I is part of the company’s DNA.

About Newfront 
Newfront is transforming the delivery of risk management, employee experience, insurance, and retirement solutions by building the modern insurance platform. Transparent data delivered real-time translates into a lower total cost of risk and greater insights. Newfront makes insurance work for you. Headquartered in San Francisco, Newfront has offices throughout the country and is home to more than 850 employees who serve clients across the United States and globally.

MEDIA:
Traci Johnson
Newfront
press@newfront.com

Natasha Koleas
PAN Communications
949-397-7582
nkoleas@pancomm.com

Newfront is proud to be named a Forbes Best Startup Employer for 2023.

Newfront Named a Best Employer by Forbes for Second Consecutive Year

Four were named winners as Newfront, a top 40 broker based on revenue, continues to demonstrate its world-class risk management capabilities

Newfront, the tech-driven insurance brokerage firm based in San Francisco, is proud to announce that eight team members have been named to the prestigious Power Broker list by Risk & Insurance. Of the honorees, four are winners and four are finalists, including:

Construction Winner: Shantelle Cabir, Principal, Senior Vice President

Finance/Fintech Winner: Cameron Lock, Associate Vice President, Account Executive

Finance/Fintech Winner: John McCall, Senior Vice President, Financial Institutions & Fintech Practice Leader

Technology Winner: Erik Stenson, Senior Vice President 

Finance/Fintech Finalist: Gay Chung, Senior Vice President, Team Leader Commercial Lines

Specialty Finalist: Shari Cornaggia, Senior Vice President

Construction Finalist: Adam Gabler, Principal, Senior Vice President

Real Estate Finalist: Jonathan Naranjo, Senior Vice President National Real Estate Practice Leader 

Through the combination of talented risk management experts like these and its revolutionary technology, Newfront is modernizing the industry and the way people and businesses understand, select, and interact with insurance.

“The Power Broker designation is considered one of the highest distinctions within our industry,” said Newfront CEO Spike Lipkin. “This recognition confirms what we already know at Newfront - that Shantelle, Cameron, John, Erik, Gay, Shari, Adam, and Jonathan are all leaders at our company and within their industries. This also serves as further validation of our mission and value proposition to top insurance professionals.”

Additional information and full stories of each finalist and winner can be found here.

The Risk & Insurance® Power Broker® Awards are an annual selection of the most effective and influential commercial insurance brokers. The Power Broker® designation is based on nominations provided by brokers and risk managers and is judged based on the quality of the application and on references by risk managers in each industry sector. Hundreds of risk managers and risk executives are interviewed in the process of identifying and soliciting, evaluating, and judging the nominees. Brokers are judged primarily on their creativity in solving risk-related problems during the previous year, their demonstrated industry knowledge, and their high level of client service.

Newfront is transforming the delivery of risk management, employee experience, insurance, and retirement solutions by building the modern insurance platform. Transparent data delivered real-time translates into a lower total cost of risk and greater insights, Newfront makes insurance work for you. Headquartered in San Francisco, Newfront has offices throughout the country and is home to more than 850 employees who serve clients across the United States and globally.

Traci Johnson
Newfront
press@newfront.com 

Natasha Koleas
PAN Communications 
949-397-7582
nkoleas@pancomm.com 

Newfront is proud to announce that eight team members have been named to the prestigious 2023 Power Broker list by Risk & Insurance.

Eight Newfront Leaders Honored by Risk & Insurance as 2023 Power Brokers 

Insurance brokerage platform Newfront, on Tuesday announced a $200 million investment from Goldman Sachs Group's (GS) Asset Management arm, B Capital, and other existing investors including Founders Fund and Meritech Capital at a $2.2 billion valuation to modernize its insurance business.

Newfront CEO Spike Lipkin said: "…This investment furthers Newfront's commitment to building the modern platform for clients, insurance professionals, and trading partners. "In addition, the brokerage also plans to invest in specialized client resources and experts across a range of industries across the U.S.

Other major investors in the funding round include Y Combinator, Index Ventures, Bloomberg Beta, XYZ, Susa Ventures, Pruven, Propel, Vetamer, Altai, Tony Xu CEO of Doordash, and others.

Insurance brokerage platform Newfront, on Tuesday announced a $200 million investment from Goldman Sachs Group's (GS) Asset Management arm, B Capital, and other existing investors.

Nasdaq: Newfront Announces Investments At $2.2 Bln Valuation Towards Modernizing Platform

Insurtech brokerage Newfront Insurance Inc. said Tuesday it has raised $200 million, giving it a $2.2 billion valuation.

Last July, Newfront agreed to merge with San Mateo, California-based brokerage ABD Insurance and Financial Services Inc., the 40th-largest brokerage of U.S. business, with $112.5 million in 2020 brokerage revenue, according to Business Insurance’s latest ranking. 

Newfront said it was profitable in 2021 and saw “significant” growth over the last year, booking more than $2 billion in premiums. The company has also added more than 200 staff in the last seven months, it said.

Newfront said it will use the financing to expand its technology platform and geographic footprint, and invest in specialized resources and experts across more industries.

Business Insurance: Newfront Raises $200 million

InsurTech brokerage Newfront is planning to invest in technology and expand geographically, CEO Spike Lipkin told Inside P&C after the announcement of a $200mn raise that valued the company at $2.2bn.

“We have built a product that we're very proud of, but we also have an incredible amount left to build,” Lipkin said. Newfront’s raise comes at a time when private InsurTech valuations are beginning to “normalize”, as a combination of pulled IPOs and punishing market conditions for public InsurTechs create downward pressure.

InsurTech brokerage Newfront is planning to invest in technology and expand geographically.

Inside P&C: Newfront to Invest in Tech, Geographic Growth After $200mn Raise: CEO Lipkin

San Francisco-headquartered broker, Newfront Insurance has announced a $200 million investment at a $2.2 billion valuation to modernise insurance, led by the Growth Equity business within Goldman Sachs Asset Management and B Capital.Further participation in the round came from existing investors including Founders Fund and Meritech Capital.

“The nature of risk has changed drastically over the past century but the insurance industry has not modernized to meet these new challenges,” said Newfront Co-Founder and CEO Spike Lipkin. “This investment furthers Newfront’s commitment to building the modern platform for clients, insurance professionals, and trading partners.”

In a press release it states that Newfront plans to grow its technology teams and focus in particular on harnessing data-driven insights for clients.Furthermore, the company plans to invest in specialised client resources and experts across a wide variety of industries and expand across the US. 

The financing also serves as further validation of the merger of Newfront and ABD, which occurred in August 2021. In just seven months, the company has already launched a new client dashboard, refined benchmarking capabilities, welcomed over 200 new colleagues, and also experienced record-breaking growth while achieving profitability.

Executive Chairman of Newfront, Kurt de Grosz, said: “Newfront is the model our industry desperately needs– one that puts clients and colleagues at the centre and where shareholder returns are connected to delivering client value.”

President of Newfront, Brian Hetherington, added: “We are finding that talented brokers and insurance professionals are voting with their feet and leaving 100 year old platforms to join us in pursuit of a better client and colleague experience. There has never been a better time to join Newfront.”

Co-Founder and CTO of Newfront, Gordon Wintrob, also added, “Our technology teams have spent five years converting pen and paper and systems of record into a system of action that improves the experience for clients, colleagues, and trading partners. Structured data will transform our industry.”

Newfront raises $200m at $2.2bn valuation to modernise insurance.

Reinsurance: Newfront Raises $200m at $2.2bn Valuation to Modernise Insurance

Newfront, the brokerage that merged with ABD Insurance and Financial Services, notched a $2.2 billion valuation in its latest funding round from investors including Goldman Sachs Group Inc.’s asset manager. The company raised $200 million from investors including the growth equity business within Goldman Sachs Asset Management and B Capital, Newfront said Tuesday in a statement. The San Francisco-based company expects the money to help build its technology platform and expand geographically.

“We see this as huge validation of the merger between Newfront and ABD,” Spike Lipkin, Newfront’s co-founder and chief executive officer, said in an interview. “We’re seeing a huge pull from our clients for a more modern solution and we think that this funding from Goldman Sachs and B Capital really establishes Newfront as the leader of building the modern platform for insurance professionals.”

Investors in latest round include Goldman Sachs and B Capital.

Bloomberg: Insurance Broker Newfront Hits $2.2 Billion Valuation in Latest Funding Round

Newfront, a San Francisco-based insurance brokerage startup, raised $200 million at a $2.2 billion valuation. Goldman Sachs Asset Management's Growth Equity business and B Capital led the round with participation from Founders Fund and Meritech Capital.

Why it matters: Carriers have been at the center of the insurtech sector's recent public market implosion. But Newfront operates as a brokerage that connects multiple carriers to consumers.Flashback: Just a few weeks ago, another insurtech distributor, Policygenius, raised $125 million at a higher valuation.

Details: Newfront was last valued at $1.35 billion in July after acquiring a more traditional competitor, ABD.The company was profitable last year on a net income basis, says CEO Spike Lipkin. So far this year, the company is profitable on an EBITDA basis.

Newfront raises at a $2.2 billion valuation.

Axios – Pro: Newfront Insurance Raises at a $2.2 Billion Valuation

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Newfront Named a Best Employer by Forbes for Second Consecutive Year

Eight Newfront Leaders Honored by Risk & Insurance as 2023 Power Brokers

Nasdaq: Newfront Announces Investments At $2.2 Bln Valuation Towards Modernizing Platform

Business Insurance: Newfront Raises $200 million

Inside P&C: Newfront to Invest in Tech, Geographic Growth After $200mn Raise: CEO Lipkin

Reinsurance: Newfront Raises $200m at $2.2bn Valuation to Modernise Insurance

Bloomberg: Insurance Broker Newfront Hits $2.2 Billion Valuation in Latest Funding Round

Axios – Pro: Newfront Insurance Raises at a $2.2 Billion Valuation

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.css-13o7eu2{display:block;}Newfront Named a Best Employer by Forbes for Second Consecutive Year

Eight Newfront Leaders Honored by Risk & Insurance as 2023 Power Brokers

Nasdaq: Newfront Announces Investments At $2.2 Bln Valuation Towards Modernizing Platform

Business Insurance: Newfront Raises $200 million

Inside P&C: Newfront to Invest in Tech, Geographic Growth After $200mn Raise: CEO Lipkin

Reinsurance: Newfront Raises $200m at $2.2bn Valuation to Modernise Insurance

Bloomberg: Insurance Broker Newfront Hits $2.2 Billion Valuation in Latest Funding Round

Axios – Pro: Newfront Insurance Raises at a $2.2 Billion Valuation

Newfront for Businesses

Newfront for Employee Benefits

Newfront for Private Clients

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Newfront Named a Best Employer by Forbes for Second Consecutive Year