Annuity.com, a newly formed fintech and financial media company set to transform the distribution of annuities, announced it has closed on a $15.7 million seed funding round and acquired the domain Annuity.com. And the company will relaunch Annuity.com as an education-focused consumer marketplace for annuities in the summer of 2024.
Annuity.com is headed by CEO Brett Blake, a Harvard MBA with experience leading both private and public companies. For example, Blake is best known for his time at Beachbody (now BODi), where he pioneered strategies that drove the independent coaching division from $50 million to $975 million in sales. And Bruce Jensen, a seasoned financial executive, has joined the company as COO/CFO.
Annuity.com will focus on providing independent agents with innovative tools and resources and enabling them to better serve their clients and expand their businesses. And the company’s goal is to make annuities more accessible and understandable to consumers, fostering greater financial security for individuals planning their retirements.
KEY QUOTES:
“The annuity market is significantly underperforming due to a lack of consumer awareness. Studies show that less than 25% of the population even knows what an annuity is, and just 12.5% own one. With 10,000 Americans retiring daily, annuities must become a mainstream solution for financial security in retirement.”
“We see a tremendous opportunity in the annuity market, which despite growing 70% since COVID to $385 billion in 2023, we believe should be a $1.5 trillion market in the near future. Annuity.com, Inc. is bringing innovation to this channel because we believe it is the single largest opportunity in finance in the US.”
- Annuity.com CEO Brett Blake
“Our team is laser-focused on building a company that delivers exceptional value to both agents and consumers. We believe that by leveraging technology and data, we can create a more efficient and transparent annuity marketplace that benefits everyone involved.”
- Bruce Jensen, COO/CFO
