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Corporation
FINANCE | Insurance
theabdteam.com

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Investments

2

Portfolio Exits

1

Partners & Customers

6

About ABD Insurance and Financial Services

ABD Insurance and Financial Services is an insurance brokerage and consulting firm using technology to provide enhanced service to the tech community for companies like Facebook, Slack, Airbnb, Zoom, Spotify, Twitter, and hundreds of other entrepreneurial companies.On July 15th, 2021, ABD Insurance and Financial Services merged with Newfront Insurance at a valuation of $1.35B.

ABD Insurance and Financial Services Headquarter Location

3 waters park drive suite 100

San Mateo, California, 94403,

United States

415-786-5444

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ABD Insurance and Financial Services Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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ABD Insurance and Financial Services Rank

Latest ABD Insurance and Financial Services News

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

Apr 12, 2022

10:44 PM IST, 12 Apr 2022 5:30 PM IST, 12 Apr 2022 10:44 PM IST, 12 Apr 2022 Save (Bloomberg) -- 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. (Bloomberg) -- 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. The funding round marks the latest expansion for Newfront. The brokerage merged with ABD last year in a deal that valued the combined businesses at $1.35 billion. Since then, it has added more than 200 employees, created a new client dashboard and posted a profit in 2021. “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.” Newfront counts industries such as life sciences, technology and financial services among its core businesses. That’s leading the company to look to grow in areas such as New York, Boston and Texas, according to Lipkin. While the industry has become very good at insuring physical assets, Newfront’s Lipkin says there’s a huge demand from clients to understand more-complex risks. Newfront is pushing to build its expertise in industries such as technology, life sciences, financial technology, venture capital and private equity. “We see modern, full-stack platforms transforming large parts of financial services,” Paul Pate, a vice president at Goldman Sachs Asset Management, said in the statement. “We believe Newfront’s marriage of technology, people, and domain expertise represents the future of the insurance industry.” Newfront currently has around 800 employees and is expecting to cross the 1,000 mark this year, according to Lipkin. Bloomberg Beta, a venture firm backed by Bloomberg News parent Bloomberg LP, is an investor in Newfront. ©2022 Bloomberg L.P.

ABD Insurance and Financial Services Investments

2 Investments

ABD Insurance and Financial Services has made 2 investments. Their latest investment was in Highwing as part of their Seed VC on November 11, 2020.

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ABD Insurance and Financial Services Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/10/2020

Seed VC

Highwing

$4M

Yes

17

12/23/1999

Series A

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$99M

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0

Date

11/10/2020

12/23/1999

Round

Seed VC

Series A

Company

Highwing

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Amount

$4M

$99M

New?

Yes

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Co-Investors

Sources

17

0

ABD Insurance and Financial Services Portfolio Exits

1 Portfolio Exit

ABD Insurance and Financial Services has 1 portfolio exit. Their latest portfolio exit was Benefit Point on September 08, 2006.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/8/2006

Acquired

Date

9/8/2006

Exit

Acquired

Companies

Valuation

Acquirer

Sources

ABD Insurance and Financial Services Acquisitions

1 Acquisition

ABD Insurance and Financial Services acquired 1 company. Their latest acquisition was SharedHR on May 04, 2016.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

5/4/2016

$99M

Acquired

1

Date

5/4/2016

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired

Sources

1

ABD Insurance and Financial Services Partners & Customers

6 Partners and customers

ABD Insurance and Financial Services has 6 strategic partners and customers. ABD Insurance and Financial Services recently partnered with Slack Technologies on April 4, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

4/21/2021

Vendor

United States

Why ABD Insurance and Financial Services switched to Slack:. ABD Insurance and Financial Services streamlines business collaboration

ABD Insurance and Financial Services can quickly communicate and build stronger relationships with clients in Slack Connect , which lets teams securely move all conversations with external partners , vendors and others into Slack .

1

12/1/2020

Vendor

United States

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10

11/1/2020

Partner

United States

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0

12/14/2017

Vendor

United States

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10

4/2/2014

Partner

United States

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10

Date

4/21/2021

12/1/2020

11/1/2020

12/14/2017

4/2/2014

Type

Vendor

Vendor

Partner

Vendor

Partner

Business Partner

Country

United States

United States

United States

United States

United States

News Snippet

Why ABD Insurance and Financial Services switched to Slack:. ABD Insurance and Financial Services streamlines business collaboration

ABD Insurance and Financial Services can quickly communicate and build stronger relationships with clients in Slack Connect , which lets teams securely move all conversations with external partners , vendors and others into Slack .

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Sources

1

10

0

10

10

ABD Insurance and Financial Services Team

23 Team Members

ABD Insurance and Financial Services has 23 team members, including current Founder, Executive Vice President, Renee Polk.

Name

Work History

Title

Status

Jeff Dodds

Founder

Current

Renee Polk

Founder, Executive Vice President

Current

Chris Call CFP®

President

Current

Amy Steadman SPHR SHRM SCP

Chief People Officer, Executive Vice President

Current

John Haskell

Executive Vice President

Current

Name

Jeff Dodds

Renee Polk

Chris Call CFP®

Amy Steadman SPHR SHRM SCP

John Haskell

Work History

Title

Founder

Founder, Executive Vice President

President

Chief People Officer, Executive Vice President

Executive Vice President

Status

Current

Current

Current

Current

Current

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