Minneapolis startup CAP pushes $40m in VC funding

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Project-CapMinneapolis startup Consumer Agent Portal (CAP) has raised $6m in debt financing according to a disclosure filed with the SEC.

The company has evolved considerably since 2011 inception. Today, dba Project CAP Agency Digital Marketing is an insurance marketplace created for the independent agency and carrier channel.

“The new TrustedChoice.com portal will attract consumers and connect them with you. It explains the advantages of an independent agent to consumers. It is a “one-stop-shop” for consumers to get insurance quotes from multiple insurance companies, all in one step. Geico can’t do that and State Farm can’t do that. Consumers will also find answers to their insurance questions and, best of all, connect with local agencies.

Project CAP is a powerful industry initiative with the vision and resources to recapture and expand the independent channel’s share of the personal lines insurance market”

In August 2011, they banked a whopping $18m, followed by $6.6m, and then $9.9m last December.  Napkin math would peg total capitalization at over $40m — a level that few local startups have reached.

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