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.

Afficiency

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

Find your way into Afficiency

334 people in our graph share verified history with the Afficiency team — schools, employers, funds. One of them is your warm intro.

Adrianna Maunlockedknows Ravi Arasan · together at Morgan Stanley (overlapped)

×11knows the team · via Morgan Stanley

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.

Fintech InsurTech SaaS

Founders & leadership

Afficiency was founded in 2016 by Mark Scafaro.

Mark Scafaro inCEO 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.

Scafaro MarkNamed on SEC filing

Ravi Arasan in 𝕏CEO 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

Steve GerberFormer Director, resigned 2/10/20

Maor Amar inBoard MemberManaging Partner at Impression Ventures

Investors · 3

IA Capital GroupNew York

Impression VenturesToronto · $2M

Energy Capital VenturesreportedChicago · $2M – $5M

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.

Competitors · 2

by search overlap

Libertymutual38 shared keywordsLiberty Mutual provides commercial insurance solutions across multiple industries, including cyber insurance, property, liability, and workers compensation coverage tailored to business needs.

Prosperitylife17 shared keywordsProsperity 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 competing with Afficiency for the same Google search keywords, organic and paid, via search-intersection analysis.

In the news

Afficiency Raises $7M in Series A Fundingfinsmes.com · Apr 2022

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.