From Yahoo Finance: 2025-04-02 10:47:00

Equal Parts, a new insurance company, enters the market with $10m in acquisition capital, aiming to acquire agencies generating less than $5m in revenue. Their AI tools streamline back-office operations, allowing agents to focus on client relationships. The CEO, Mike Witte, plans to make several “foundational acquisitions” in the next 90 days.

Witte, who founded Workrise, grew it to a $2.9bn enterprise in the energy sector with technology integration. Equal Parts believes in the future of insurance being a balance of innovation and relationships, technology and tradition. Co-founder Mike Meller emphasizes how their technology enhances, not replaces, the human element in insurance agencies.

The founding team includes Mike Meller and Graham Yennie, with expertise in small business growth strategy and AI implementation. Equal Parts’ goal is to remove the administrative burden that prevents small business owners from focusing on client-centric work. They aim to revolutionize the insurance sector by combining innovation and tradition in their approach.

Equal Parts’ launch with $10m in acquisition capital marks a significant step in reshaping the insurance sector. Their focus on technology integration and relationship-building aims to address the challenges faced by independent agencies. With a strong team and innovative approach, Equal Parts is poised to make a mark in the insurance industry.

Read more: Insurance company Equal Parts launches with $10m acquisition capital