Investments
2Portfolio Exits
1Partners & Customers
7About 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.35B.

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Latest ABD Insurance and Financial Services News
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.

ABD Insurance and Financial Services Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
11/10/2020 | Seed VC | Highwing | $4M | Yes | 17 | |
12/23/1999 | Series A |
Date | 11/10/2020 | 12/23/1999 |
---|---|---|
Round | Seed VC | Series A |
Company | Highwing | |
Amount | $4M | |
New? | Yes | |
Co-Investors | ||
Sources | 17 |
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 | Acquired | 1 |
Date | 5/4/2016 |
---|---|
Investment Stage | |
Companies | |
Valuation | |
Total Funding | |
Note | Acquired |
Sources | 1 |
ABD Insurance and Financial Services Partners & Customers
7 Partners and customers
ABD Insurance and Financial Services has 7 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 | 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 | ||||
11/1/2020 | Partner | ||||
12/14/2017 | Vendor | ||||
12/14/2017 | Vendor |
Date | 4/21/2021 | 12/1/2020 | 11/1/2020 | 12/14/2017 | 12/14/2017 |
---|---|---|---|---|---|
Type | Vendor | Vendor | Partner | Vendor | Vendor |
Business Partner | |||||
Country | United States | ||||
News Snippet | 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 . | ||||
Sources | 1 |
ABD Insurance and Financial Services Team
25 Team Members
ABD Insurance and Financial Services has 25 team members, including , .
Name | Work History | Title | Status |
---|---|---|---|
Jeff Dodds | Founder | Current | |
Name | Jeff Dodds | ||||
---|---|---|---|---|---|
Work History | |||||
Title | Founder | ||||
Status | Current |
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