DURHAM — Policygenius is ramping up operations in the Bull City.
After receiving a $100 million injection last week, the insurtech startup is on a hiring spree. In total, it’s looking to fill around 370 positions for its new Durham headquarters. The average starting salary: $72,000.
“We’re really excited about the growth that’s coming with our second headquarters in Durham,” its CEO and founder Jennifer Fitzgerald, told WRAL TechWire, just hours after the fundraise announcement. “This new round of funding will help us continue to build out our team there, as well as in New York.”
Policygenius is hosting its own meet-and-greet with senior leadership — including Fitzgerald — at Van Alen Apartments on Thursday, February 6.
WRAL TechWire’s Chantal Allam recently had the chance to pose a few questions to her ahead of the event. Here’s what Fitzgerald had to say:
- Talk to us about this latest fundraising round, and why you decided to raise the capital.
We are really excited about this announcement and the opportunity to work with KKR. Policygenius waited three years between our series C and series D fundraising rounds, exemplifying the capital-efficiency of our business. We’ve scaled the business a lot since then, adding almost 180 employees last year and expanding into home and auto insurance. With this round of funding, we plan to continue growing our team and introducing broader consumer financial protection products later this year.
- What’s fueling your company’s growth and the insurtech industry as a whole?
We have an exceptionally strong team driving our growth. This applies to all the different aspects of our business — engineering, product, operations, marketing, recruiting, we’ve just got a really great team. We amplify that with the support of our great investors and adding KKR to the group will help take Policygenius to the next level.
- Policygenius is working hard to attract the best talent in the Triangle. The company has even leased a massive billboard along Interstate 440 to advertise jobs. Does it seem to be working? How’s the hunt for talent so far?
Durham has such a strong talent pool, and we’ve had a lot of interest in our open roles. We’ve also had a lot of candidates mention seeing our billboards around town.
- Policygenius picked Durham over Pittsburgh for its second headquarters. Why?
A lot of research and analysis went into deciding where to house our second headquarters. Ultimately our decision was influenced by the university and college-fueled talent pool in the Research Triangle that tipped the scale in favor of Durham.
- You’re now calling it “dual headquarters” with NYC. How will that work?
Our Durham location is not just another office — it’s a second headquarters. As we expand locations, we are also expanding our company culture. We have a “community team” of Policygenius veterans serving as culture bearers, traveling between the two offices to foster relationships and help bridge NY and NC.
- So far, what are your impressions of the Triangle’s ecosystem?
So far we’ve been welcomed into the Triangle’s ecosystem with open arms, and for this we are extremely grateful. From working with the local and state level government offices during the planning phase to bringing local residents onto the team, we are happy with our choice to set up our second headquarters in Durham.