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Afficiency

New York, US · Founded 2016 · Delaware corporation · 29 employees on LinkedIn · 3 known investors

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Afficiency builds a digital platform for purchasing life insurance, aiming to make the buying process fully digital and accessible. It serves insurance carriers and distributors to power their digital life insurance offerings.

FintechInsurTechSaaS

Founders & leadership

Afficiency was founded in 2016 by Mark Scafaro.

MSMark Scafaro
Mark ScafaroCEO and Co-founderBefore starting the company in 2017, he led customer acquisition and servicing for MetLife Direct and spent more than a decade at American Express, where he was Vice President of Strategy. He began his career in financial services with roles at Morgan Stanley and BNP Paribas.
SM
Scafaro MarkNamed on SEC filing
RARavi Arasan
Ravi ArasanCEO and Co-founderHe also founded BDIPlus in 2016 and modenX in 2023, and serves as a board director for the company he co-founded in 2017. His earlier career was spent at American Express, where he held vice president roles covering global big data and CRM platforms, customer and digital R&D capabilities, and business intelligence.

Board

SG
Steve GerberFormer Director, resigned 2/10/20
MAMaor Amar
Maor AmarBoard MemberManaging Partner at Impression Ventures

Investors · 3

Impression Ventureslisted by Impression VenturesToronto · $2M

How we know: Impression Ventures's portfolio page · the VCSheet dataset · Not right? Tell us

Energy Capital VenturesreportedChicago · $2M – $5M

How we know: a partner's Signal profile · Not right? Tell us

Reported raises · per SEC filings

Form D private placements

$11.1M disclosed across 2 rounds · 2020–2022

▶$8MraisedAug 2022 · 5 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Richard VitonDirector
  • Maor AmarDirector
  • Ravi ArasanDirector
  • Mark ScafaroExecutive Officer, Director
Offering amount
$8M
Amount sold
$8M
First sale
Mar 2022
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$3.1MraisedFeb 2020 · 6 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Scafaro MarkExecutive Officer, Director
  • Ravi ArasanDirector, Promoter
  • Steve GerberDirector
  • Maor AmarDirector
Offering amount
$3.1M
Amount sold
$3.1M
First sale
Feb 2020
Incorporated
Corporation, Delaware, 2016
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Related companies · 2

LibertymutualLiberty Mutual provides commercial insurance solutions across multiple industries, including cyber insurance, property, liability, and workers compensation coverage tailored to business needs.
ProsperitylifeProsperity Life Group operates as a life insurance and annuity company serving the retirement and life market in the United States through multiple underwriting subsidiaries. The organization provides life insurance, annuity products, reinsurance, and capital solutions to approximately one million policyholders.

Companies working in the same space as Afficiency.

Frequently asked questions

What does Afficiency do?
Afficiency builds a digital platform for purchasing life insurance, aiming to make the buying process fully digital and accessible. It serves insurance carriers and distributors to power their digital life insurance offerings.
Who founded Afficiency?
Afficiency was founded by Mark Scafaro in 2016.
Who are Afficiency's investors?
Afficiency's investors include IA Capital Group, Impression Ventures, Energy Capital Ventures.
How much funding has Afficiency raised?
Afficiency has disclosed $11.1M raised across 2 rounds.
Where is Afficiency headquartered?
Afficiency is headquartered in New York, US.