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The Boston Globe

Business

Consumer United raises $52.5m

Consumer United Inc., an online insurance agency started six years ago, has raised $52.5 million in financing to continue its expansion across the country.

The Boston company raised $22.5 million in venture capital in a round led by Boston venture capital firm Spark Capital and New York investment company Thayer Street Partners.

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It raised another $30 million in other available credit from Thayer Street.

Consumer United has 250 workers and said it plans to hire “significantly” more in the next year.

As part of the financing, Thayer Street founder Josh Koplewicz and Spark general partner Mo Koyfman will join Consumer United’s Board.

Todd Wallack can be reached at twallack@globe.com. Follow him on Twitter @twallack.

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