AgencyBloc acquires GBS
BPC Staff Jan 17, 2018 | 9:36 pm
1 min read time136 wordsAll Latest News, Insurance & Investments, Iowa News
AgencyBloc Inc., an Iowa-based agency management system and commissions processing software provider for life and health insurance agencies, has acquired GBS Inc., a pioneer of the insurtech industry founded in 1979. AgencyBloc was founded in Cedar Falls in 2008 by Adam Lewis, Cory Schmidt and Marc Reifenrath, who in 2000 launched Iowa internet-based company Spinutech. Erica Kiefer, AgencyBloc’s vice president of sales and marketing, said the company has retained the entire sales and service staff of GBS as well as its office space in Boulder, Colo., to minimize disruption for GBS clients. In the last three years, AgencyBloc has quadrupled its Cedar Falls and Des Moines staff to 28 people and has gained 45 percent year-over-year client and revenue growth. The company self-funded its acquisition of GBS, it said. Financial terms of the transaction were not disclosed.