ProspX, Inc., developer of anon-demand search and sales collaboration platform for thecommercial insurance industry, has completed an $8 million round ofSeries B funding to further accelerate the company's growth. Thefunding round was led again by Adams Capital Management withparticipation from other investors such as HPI Real Estate Servicesand Investments (HPI). With the investment, ProspX has now raised atotal of $14.5 Million.

“ProspX has built a proven revenue model and efficient software-as-a-service business resulting in satisfiedcustomers and strong company growth,” says Martin Neath, generalpartner, Adams Capital Management. “We are very excited about themomentum the company is experiencing and believe that theadditional capital gets ProspX that much closer, faster totransforming this important industry.”

ProspX develops a solution for managing the sales process of the $500 billion commercialinsurance industry. The SaaS platform combines enterprise search,social networking, and sales collaboration technology toautomatically connect commercial insurance agents, brokers, andcarriers at the initial point of a business opportunity, as well asthroughout the sales cycle.

There are 4,000 brokers and more than 16,000 carrier underwriterspecialists currently represented in the ProspX network.Additionally, the company continues to build on the successfuladoption of its collaboration platform with the announcement ofInsiderConnect, an electronic marketing offering.

“With the support of our investing partners and our talentedteam we can continue our mission to transform the often manual andinefficient business of commercial insurance,” says Todd Young,president and CEO of ProspX. “This investment is a great vote ofconfidence in our company, and we plan to use the funding tocontinue developing world class solutions that help our agency andcarrier partners harness the best relationships, intelligence, andresources available for their clients.”