Troy, Michigan, August 22, 2011 - MyInsuranceExpert.com, an online life insurance brokerage firm currently based in Troy, Michigan, announced it has received a significant investment from Rockbridge Growth Equity, LLC, a private equity firm based in Detroit.
The
company, which presently employs 85 team members, has plans to hire an
additional 200 employees in the next several months and move its office
and entire brainforce to downtown Detroit by the end of the year.
"Beyond
simply raising capital, it was imperative for us to find the right
strategic partner for our business. We've done that through this
relationship with Rockbridge Growth Equity," said MyInsuranceExpert.com CEO Lorne Zalesin.
"As
a web-based, culture-driven company, we are extremely fortunate to now
be partnered with an extraordinary family of companies that includes
Quicken Loans, Detroit Venture Partners, ePrize, and One on One
Marketing, to name a few," Zalesin added. "We are looking forward to
an exciting collaboration and are eager to be counted among the new
wave of web-based businesses that are making Detroit their home."
Founded by the Schechter Organization and NFP (NYSE: NFP), MyInsuranceExpert.com uses
the internet to engage directly with consumers to facilitate the
purchase of life insurance from the top insurers nationwide. The
company, named one of Michigan?s 50 ?Companies to Watch? in 2011, combines
the ease of the web, proprietary internal technology, and the expertise
of their licensed advisors to provide a world-class client experience.
"MyInsuranceExpert?s
focus on client experience and simplifying the life insurance
process positions it to be the dominant player in an industry that is
still extremely local and fragmented. As demand for life insurance
continues to grow and more consumers move online to begin their search,
the potential to grow this business is tremendous," said Brian
Hermelin, managing partner, Rockbridge Growth Equity.
"Also,
as a Detroit-based private equity firm, we are very excited to be
making an investment in not only a Michigan-based, but a soon to be
Detroit-based business," Hermelin added.
MyInsuranceExpert.com is
one of the newest members of Dan Gilbert?s Family of Companies, a
collection of financial services, sports media & entertainment,
consumer direct marketing and education businesses. Gilbert, Founder
and Chairman of Quicken Loans, Majority Owner of the Cleveland
Cavaliers, and Partner of Detroit Venture Partners, is leading Detroit
2.0 by creating a technology-based urban core where young and creative
professionals can work, live and play in downtown Detroit.
# # #
With more than three decades of experience, MyInsuranceExpert.com is
a Michigan-based company offering affordable insurance services and
support throughout the United States. Named one of Michigan?s 50
?Companies to Watch? in 2011, MyInsuranceExpert.com was
honored with Top Workplace awards from The Detroit Free Press in 2009
and 2010, and Metropolitan Detroit?s 101 Best and Brightest Companies
to Work For in 2010. For more information, please visit www.MyInsuranceExpert.com.
About Rockbridge Growth Equity, LLC
Rockbridge
Growth Equity, LLC is a Detroit-based private equity firm that invests
in financial and business services, consumer-direct marketing, and
sports, media & entertainment industries. Rockbridge owns equity
stakes in AccountNow, Protect America, Northcentral University, Connect
America and One Reverse Mortgage, and is affiliated with other leading
businesses in its target sectors including Quicken Loans, the Cleveland
Cavaliers, Title Source, Fathead, Xenith and ePrize. For more
information on Rockbridge Growth Equity, visit www.rbequity.com.
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