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Venture Capital
teamworthy.com

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Investments

44

Portfolio Exits

5

Funds

4

About Teamworthy Ventures

Teamworthy Ventures connects promising entrepreneurs to a network of other successful entrepreneurs and partners to help them build innovative companies of purpose, value, and integrity.

Teamworthy Ventures Headquarter Location

515 Madison Avenue Suite 1910

New York, New York, 10022,

United States

646-883-4777

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Latest Teamworthy Ventures News

Better Agency Raises $8 Million in Series A Financing

May 4, 2022

Better Agency, the agency success platform for insurance agents, announced that they raised $8m in a Series A round, led by Teamworthy Ventures. There was additional participation from  ManchesterStory Group. Better Agency is an agency success platform that uses automation to help insurance agents sell more policies, retain more customers at renewal and handle the service and claims processes inside an agency. Better Agency team Better Agency’s latest capital raise brings its total funding to over $10 million. The new capital will allow them to develop a new industry category while tripling down on its growth, and expanding its platform capabilities to meet its vision as the first Agency Success Platform for insurance agents. “We believe in the independent insurance agency model. No one will invest more time, capital, or resources into independent agents and agency success than us,” said Better Agency CEO Will Shaw. Will added, “Agencies can’t grow on scattered tech stacks or legacy platforms, especially in a hybrid or remote world. Our dream of a single, unified platform allows independent agents to quote, bind, and issue insurance at scale. Allowing them to better communicate with their clients, and spend more time building relationships, not managing administrative tasks.” Shaw later went on to say, “We are excited to partner with Teamworthy Ventures because they are leaders in vertical SAAS and have a lot of experience with helping companies bring full-scale solutions to the market. We chose to work with Manchester Story Group because they have deep expertise in insurance. They also have relationships with the top insurance carriers and independent brokerages in the country.” Insurance agents are already using it to automate processes, sell more insurance policies and retain more customers at renewal. Stephen Schmalhofer, co-founder and partner at Teamworthy Ventures has been part of many successful companies and believes it is poised to transform the insurance industry. “At Teamworthy Ventures, we have been fortunate to partner with several outstanding vertical SaaS teams, including Toast, Teamworks, OpenGov, Slice, Affinity, CampusLogic, and more. Now we are excited to partner with CEO Will Shaw, cofounders Jordan Hatch and Nicholas Ayers and the entire talented Better Agency team. “Before Teamworthy, I was fortunate to get my career started in the insurance industry where I met some of the smartest professionals and hardest working business owners in America. After speaking with many happy customers, we discovered that Better Agency is the best all-in-one platform to help independent insurance agents grow their agency, serve their clients better and faster, and achieve maximum agency success. “With Better Agency, Teamworthy Ventures is also excited to lead our first investment in Phoenix, Arizona, and look forward to partnering with more Arizona entrepreneurs in the future.” Gregg added, “Better Agency is yet another high-growth, category-defining SaaS company being built here in Arizona. Over the next decade, I believe Better Agency will put more time, energy, and capital toward helping independent insurance agencies succeed than any other organization.” [To share your insights with us, please write to sghosh@martechseries.com]

Teamworthy Ventures Investments

44 Investments

Teamworthy Ventures has made 44 investments. Their latest investment was in Better Agency as part of their Series A on May 5, 2022.

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Teamworthy Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/2/2022

Series A

Better Agency

$8M

Yes

3

3/10/2022

Series C

Typeform

$135M

Yes

24

1/14/2022

Series A

Grata

$25M

Yes

2

11/3/2021

Series B

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$99M

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10

10/26/2021

Series A

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$99M

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10

Date

5/2/2022

3/10/2022

1/14/2022

11/3/2021

10/26/2021

Round

Series A

Series C

Series A

Series B

Series A

Company

Better Agency

Typeform

Grata

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Amount

$8M

$135M

$25M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

3

24

2

10

10

Teamworthy Ventures Portfolio Exits

5 Portfolio Exits

Teamworthy Ventures has 5 portfolio exits. Their latest portfolio exit was Optimus Ride on January 11, 2022.

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

1/11/2022

Acq - Talent

$99M

2

7/2/2020

Acquired

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$99M

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10

4/6/2020

Merger

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$99M

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10

1/25/2020

Acquired

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$99M

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10

9/23/2019

Acquired

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$99M

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10

Date

1/11/2022

7/2/2020

4/6/2020

1/25/2020

9/23/2019

Exit

Acq - Talent

Acquired

Merger

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

10

10

10

10

Teamworthy Ventures Fund History

4 Fund Histories

Teamworthy Ventures has 4 funds, including Teamworthy Ventures III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/4/2021

Teamworthy Ventures III

$45.45M

2

6/1/2018

Teamworthy Ventures RM

$99M

10

10/19/2017

Haystack Partners I

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$99M

10

Teamworthy Ventures II

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10

Closing Date

6/4/2021

6/1/2018

10/19/2017

Fund

Teamworthy Ventures III

Teamworthy Ventures RM

Haystack Partners I

Teamworthy Ventures II

Fund Type

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Status

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Amount

$45.45M

$99M

$99M

Sources

2

10

10

10

Teamworthy Ventures Team

1 Team Member

Teamworthy Ventures has 1 team member, including current Managing Partner, Thomas D. Lehrman.

Name

Work History

Title

Status

Thomas D. Lehrman

U.S. Department of State, and Gerson Lehrman Group

Managing Partner

Current

Name

Thomas D. Lehrman

Work History

U.S. Department of State, and Gerson Lehrman Group

Title

Managing Partner

Status

Current

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