BURLINGTON, Vt. -

DealerPolicy announced a $30 million round of Series B funding on Tuesday, which the company plans to use for developing its insurance marketplace serving the auto retail business as well as expanding its team.

The latter includes the addition of a president and chief operating as well as a senior vice president of sales.

Named president and COO is former Dealer.com vice president and general manager Wayne Pastore, while the new senior VP of sales is Tara Kasica, who was most recently with Allstate.

The funding was led by 3L Capital and Hudson Structured Capital Management Ltd. 

“As car buying continues to evolve with the world around us, dealers are prioritizing fully digital, streamlined and connected experiences. Modern insurance solutions such as DealerPolicy’s FastPass dovetail nicely into the process and give car-buyers the value and convenience they’ve come to expect,” DealerPolicy chief executive officer Travis Fitzgerald said in a news release. “DealerPolicy has conducted extensive research into car-buyer sentiments, including access to insurance as part of the process.

“The results are undeniable — nearly eight out of 10 shoppers believe that comparing insurance at the point of sale during the car-buying process substantially improves the experience,” he said. “With an ever-expanding value proposition to dealers, insurance carriers and customers, we are prepared to continue investing in growth.”

As far as the new executives, both have already joined the company. In addition to his leadership at Dealer.com before joining DealerPolicy, Pastore held additional leadership posts at Cox Automotive and Dealertrack.

“I admire the early success the DealerPolicy team has had and the meaningful value its platform provides for both shoppers and dealers,” Pastore said. “With shoppers’ continued desire to complete more of the purchasing experience digitally, I look forward to leveraging my experience to help accelerate the company’s growth as dealers continue to demand fully integrated and digital retailing services.”

At Allstate, Kasica oversaw activities around dealership-owned insurance agencies.

“Spending much of my career in various insurance and automotive leadership roles, I immediately recognized the value of DealerPolicy’s offering to the market, and dealerships in particular,” Kasica said. “I am thrilled to be joining this incredible team and to use my experience at the intersection of P&C insurance and automotive retail to further support the company’s expansion plans.”