Insurance Broker Newfront Hits $2.2 Billion Value With Funding

Newfront, the brokerage that merged withABD Insurance and Financial Services, notched a $2.2 billion valuation in its latest funding round from investors including Goldman Sachs Group Inc.’s asset manager.

The company raised $200 million from investors including the growth equity business within Goldman Sachs Asset Management and B Capital, Newfront said Tuesday in a statement. The San Francisco-based company expects the money to help build its technology platform and expand geographically.

The funding round marks the latest expansion for Newfront. The brokerage merged with ABD last year in a deal that valued the combined businesses at $1.35 billion. Since ...