iLife Lands $4M For Life Insurance Sales

Playa Vista-based iLife, a startup which is developing tools to help life insurance agents set up their own, branded "digital insurance agency", has raised $4M in a seed funding round, according to the company. iLife said the funding was led by Foundation Capital, and also include AME Cloud Ventures and Cherubic Ventures. iLife was founded and is led by CEO Nelson Lee. According to the company, the funding will go to grow its team, especially in its customer service department, as well as expand product features. The company says it has reduced the thousands of dollars typically required to start an insurance agency, to only $99.