Mequon-based Swirl Insurance Services LLC has so far raised $100,000 of its up to $1.5 million convertible note funding round.

The company, a technology platform that uses artificial intelligence to provide insurance quotes to new homeowners, was established in February by Terry Wakefield of The Wakefield Co. LLC. The company was a top 12 finalist in the 2018 Governor’s Business Plan Contest, where it announced its funding round last week.

Terry Wakefield of Swirl Insurance presents at the 2018 Governor’s Business Plan Contest.

“We have committed $1.25 million, and there is a third investor that has expressed strong interest in investing an additional $250,000, which would take the convertible note raise to $1.5 million,” Wakefield said. “We don’t want to raise any more than that because we don’t need any more than that.”

Wakefield and his business partner have already invested $800,000 in bootstrap capital into Swirl Insurance. He expects the company to have about $2.5 million in 2018 revenue. Read the full story here.

Read the Milwaukee Business Journal story here.