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American Growth Insurance launches with $70 million in committed funding
The new brokerage plans to partner with agencies using its technology and operations playbook, with its first Mid-Atlantic deal completed in May and a $10 million annual revenue target for end-2026.
American Growth Insurance has launched with $70 million in committed equity funding, according to Coverager. The round includes backing from venture studio Atomic and private equity firm Rockbridge Growth Equity.
The company says it plans to acquire independent agencies and support them with internally developed technology and operational resources. Its stated approach is to build a national platform of regional brokerages while partner agencies keep their local identities and client relationships.
American Growth Insurance completed its first agency partnership in the Mid-Atlantic region in May. Coverager also reports that the company expects to complete several more acquisitions in the coming months.
The brokerage is led by CEO Brian Morgan, with Kimba Pajares, formerly of Epic Insurance Brokers and The Plexus Groupe, serving as chief operating officer. The company is targeting $10 million in annual revenue by the end of 2026, according to Coverager.