Equal Parts
Category: AI in Fintech
AI-powered insurance agency platform that acquires and modernizes independent insurance agencies, blending human relationships with AI tools. Equal Parts was founded in 2025. The company is led by Mike Witte. Based in Austin, Texas, USA. Team size: 11-50. Total funding raised: $33M. Latest round: Series A. Key investors include Inspired Capital, Equal Ventures, Max Ventures, Genius Ventures.
- Founded
- 2025
- Headquarters
- Austin, Texas, USA
- Team size
- 11-50
- Total funding
- $33M
Value proposition
Acquires independent insurance agencies and equips them with proprietary AI tools for cross-selling, upselling, customer acquisition, and risk management — scaling relationship-driven agencies without losing the human touch.
Products and solutions
Agency roll-up/acquisition platform, AI-driven data ingestion and insights engine for agents, TigerMark D&O product, coverage lines spanning General Liability, Professional Liability, EPLI, Employee Benefits, Workers' Comp, Commercial Auto, Cyber Liability, D&O.
Unique value
Combines proven agency-consolidation playbook with purpose-built AI tools, aiming to become a top-5 insurance distributor within a decade.
Target customer
Independent insurance agencies (acquisition targets) and their commercial/personal insurance clients (funded startups, small business, tech, VC/PE, commercial real estate, oil & gas, construction, professional services).
Industries served
Insurance / InsurTech — serving startups, small business, technology, VC/PE, commercial real estate, oil & gas, construction, professional services, and personal insurance.
Technology advantage
Proprietary AI platform built by an experienced ML engineering team (CTO with 12+ years building AI platforms) layered onto an acquisition-driven agency network, enabling data-driven cross-sell/upsell and risk insights at scale.
How they differentiate
Founder-led operator model (not PE roll-up) combining deep agency-operations experience (RigUp/Workrise scaling) with in-house AI/ML engineering, targeting sub-$5M commission revenue agencies for acquisition.
Main competitors
Newfront, Vouch, BroadStreet Partners (traditional and AI-enabled insurance agency aggregators/InsurTechs)
Key partnerships
Agency partners: Lumen Insurance, Assurely, Strategic Insurance Group, D3 Insurance Group, Blue Star Insurance Agency (acquisitions).
Major milestones
Launched Apr 2025 with $10M seed, acquired Lumen Insurance (first acquisition, Apr 2025), expanded to New Mexico via Strategic Insurance and Blue Star Insurance acquisitions (2025), raised $23M Series A led by Inspired Capital (Feb 2026), acquired D3 Insurance Group (2026).
Growth metrics
Acquired 7 agencies in first year and scaled to $50M+ in premium (named partners incl. Lumen, Assurely, Strategic Insurance Group, Blue Star, D3 Insurance Group); plans 25 acquisitions in 2026; targets $1B+ premium within ~24 months.
Market positioning
AI-enabled independent insurance agency consolidator/distributor targeting long-tail agencies overlooked by PE, aiming for top-5 distributor status.
Geographic focus
United States (expanding via acquisitions in Texas, New Mexico, and beyond).
About Mike Witte
Co-founder & President, RigUp (later Workrise) — scaled from 2-person startup to $3B company.
Latest news about Equal Parts
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Official website: https://www.equalparts.ai/