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Insurance Office of America, has announced a significant new investment partnership involving its producers and employees, alongside strategic investments from Madison Dearborn Partners (MDP), a leading private equity firm, and Navacord Corp., one of Canada’s largest and fastest-growing multi-line insurance brokerages and financial services firms.
Insify, a Dutch InsurTech platform serving freelancers and small and medium-sized enterprises, has raised €16.3 million in Series B funding to scale its digital insurance services across Europe.
Claims technology firm Reserv has raised an additional $16 million in new funding, extending its oversubscribed Series B round to a total of $41 million.
Paris-based insurer Seyna has raised €10 million in a funding round led by 115K with participation from White Star Capital and Elaia, bringing its total funding to €57 million.
Elysian, the AI-native third-party administrator for commercial insurance, today announced the closing of a $6 million seed round led by Portage, with participation from American Family Ventures and TenOneTen Ventures.
Pathwork, an AI-native distribution platform for life and health insurance, has raised $3.5 million in seed funding to accelerate adoption among brokers and carriers nationwide.
Kin Insurance, a direct-to-consumer digital home insurance provider, has raised $50 million in an oversubscribed Series E round at a $2 billion valuation.
Parento, a New York-based provider of paid parental leave insurance and employee support services, has raised $5.9 million in an oversubscribed Seed II funding round.
Insurtech startup Sola has raised $8 million in Series A funding to accelerate its plans to create the first vertically integrated property insurance company.
Enterprise AI company Upstage has raised $45 million in a Series B bridge round, bringing its total funding to $157 million.
Infinity Loop, an AI-native contract intelligence platform designed to help enterprises save money on vendor contracts, has raised $5 million in a Seed Round led by Glasswing Ventures and TIAA Ventures, with participation from Plug and Play, Restive Ventures, and angel investors.
ePayPolicy, a leading provider of payment processing solutions for the insurance industry, has secured a strategic investment from private equity firm LLR Partners.
Inclined Technologies, a leading digital platform focused on unlocking the living benefits of whole life insurance policies, today announced the successful close of an $8 million Series B funding round.
Cyber risk management firm Safe Security has secured $70 million in a Series C funding round, led by Avataar Ventures.
Wingspan, the first modern payroll platform purpose-built for contractor management, has raised $24 million in Series B funding led by Touring Capital, bringing its total funding to $54 million.
Trucking insurance startup Cover Whale has announced a $40 million equity investment from Morgan Stanley Expansion Capital, a move that will help accelerate the company’s growth through enhanced technology, analytics, and expanded product offerings.
Cyber risk management company DynaRisk has raised $4.7 million in a funding round led by YFM Equity Partners, aimed at accelerating product development and supporting international growth.
Retirable, a New York-based fintech startup offering retirement solutions for middle-income Americans, has raised $10 million in a Series A funding round led by IA Capital Group.
Quandri, a Canadian AI startup transforming how insurance brokerages and agencies handle servicing work, has raised $12 million in a Series A funding round, bringing its total funding since launching in 2021 to over $20 million.
Laka, the award-winning green mobility insurer, has raised $10.4 million in its latest Series B funding round, reinforcing its position as Europe’s leading provider of insurance for e-bikes, e-scooters, and other sustainable transport.
Wrisk, a leading provider of embedded insurance solutions for the automotive industry, has announced the successful closing of its Series B funding round, raising £12 million to support its continued growth across Europe and further develop its data-driven insurance platform.
INSHUR, a multi award-winning provider of insurance solutions for the on-demand economy, has secured $35 million in new funding from Trinity Capital (NASDAQ: TRIN), a leading alternative asset manager.
Clearspeed, a leading provider of AI-powered voice analytics for risk assessment, has secured $60 million in Series D funding, bringing its total capital raised to $110 million.
ZestyAI, a leading provider of AI-based risk analytics for the property and casualty insurance industry, has secured a $15 million credit facility from CIBC Innovation Banking.
London-based insurtech startup COVR Global has raised $2.5 million in seed funding to further develop its AI-driven claims decision engine. The round was led by MTech Capital, with participation from B Capital.
Financial planning software company Conquest Planning has raised $80 million in a Series B funding round led by Goldman Sachs Alternatives, with participation from Canapi Ventures, BDC Capital, Citi Ventures, TIAA Ventures, BNY, Portage, and USAA.
E&S insurance startup Ledgebrook has raised $65 million in a Series C funding round led by The Stephens Group, with participation from Duquesne, Brand Foundry, Floating Point, Hummingbird Nomads, and American Family Ventures. The latest round brings Ledgebrook’s total funding to over $110 million.
Autonomize AI, a pioneer in AI-driven healthcare solutions, has announced the close of a $28 million Series A funding round, bringing its total capital raised to $32 million.
As wildfires become increasingly frequent and destructive, Pano AI has raised $44 million in a Series B funding round to expand its AI-powered wildfire detection infrastructure.
Employee benefits startup Zorro has secured $20 million in a Series A funding round led by Entrée Capital, with continued support from existing investors 10D and Pitango.
PremFina, the UK’s fastest-growing insurance premium finance provider, has announced the successful completion of a £350 million private securitisation facility, backed by HSBC and Waterfall Asset Management.
Crabi, a Mexico-based digital auto insurer, has raised $13.6 million in a Series A funding round co-led by Kaszek and Ignia, with participation from 30N, Redwood Ventures, Carao Ventures, Azuro Capital, and Newtopia VC.
Global insurtech leader bolttech has successfully closed its Series C funding round, raising $147 million from a group of prominent investors and securing a valuation of $2.1 billion.
Cyber insurance startup Baobab has raised €12 million in a Series A funding round to expand its footprint across Europe.
Empathy, the technology company reshaping how people navigate grief and end-of-life planning, today announced it has raised $72 million in a Series C funding round led by Adams Street Partners.
Insurtech startup Kota has announced the successful close of a $14.5 million Series A funding round, led by Eurazeo and supported by EQT Ventures, Northzone, Frontline Ventures, 9Yards, and Plug and Play.
Acrisure, a fast-growing financial services and insurance platform, announced today that it has secured a $2.1 billion funding round led by Bain Capital, marking a significant milestone in its ongoing transformation into a tech-driven global financial services provider.
Tinubu, a global leader in cloud-based software solutions for the specialty insurance industry, announced today that it has raised $45 million in growth capital to fuel its next phase of innovation and international expansion.
Dutch AI startup MarvelX AI has secured $6 million in seed funding, as it sets out to transform insurance back-office operations through automation and intelligent systems.
InsurTech firm Bestow has raised $120 million in an oversubscribed Series D funding round, marking a significant step forward in its mission to transform the life insurance industry through advanced technology solutions.
Global insurance brokerage HUB International has entered into a definitive agreement for a $1.6 billion minority equity investment, catapulting the company’s valuation to $29 billion—the highest ever for a privately held insurance broker.
Cloud data security startup Sentra has raised $50 million in a Series B funding round, bringing its total capital raised to over $100 million.
Steadily, a tech-driven landlord insurance startup, has raised $30 million in a Series C funding round, pushing its total valuation to $355 million.
Ocient, a provider of high-performance data analytics software, has raised $42.1 million in a Series B funding round, bringing its total funding to nearly $160 million since its founding in 2016.
New York-based insurtech startup 1Fort has raised $7.5 million in a new funding round led by Bonfire Ventures, with participation from Draper Associates, Ramp founder Karim Atiyeh, and existing backers including Village Global, Operator Partners, 8‑Bit Capital, Character VC, and Company Ventures.
Chapter, a leading Medicare navigation platform, has announced a $75 million Series D funding round led by Stripes, with participation from existing investors including XYZ Venture Capital, Susa Ventures, Addition, Narya Capital, and Maverick Ventures.
Luma Financial Technologies, a leading platform for structured products and insurance solutions, has successfully raised $63 million in a Series C financing round.
UK-based insurtech unicorn Marshmallow has raised $90 million (£68 million) in a combination of debt and equity financing, nearly doubling its valuation to $2 billion.
Klaimy, a French insurtech startup aiming to streamline medical document processing for insurers, has raised €1.2 million in pre-seed funding.
Meanwhile, a bitcoin-only life insurance startup, has secured $40 million in a Series A funding round, boosting its total funding to approximately $60 million.
San Francisco-based healthcare startup Thatch has raised $40 million in a Series B funding round led by Index Ventures, with participation from Andreessen Horowitz, General Catalyst, ADP Ventures, SemperVirens, PeopleTech Partners, and The General Partnership.
Foliume, a pioneer in AI-driven insurance automation, has announced a $1 million seed funding round led by Pitchdrive and Wayra (Telefónica’s investment arm), with participation from prominent insurance distribution and tech leaders.
FurtherAI, a San Francisco-based startup developing AI-powered assistants for the commercial insurance sector, has raised $5 million in a funding round led by Nexus Venture Partners, with additional participation from Pioneer AI Fund, South Park Commons, Y Combinator, ConvergeVC, and Xceedence.
Peak3, a global insurance technology leader, is accelerating its expansion plans in the UK and European markets following a successful US$35 million Series A funding round.
Norm Ai, a compliance AI platform, has secured $48 million in a recent funding round, signaling strong investor confidence in its technology designed to streamline regulatory adherence within the insurance industry and beyond.
Nirvana Insurance, a California-based trucking insurance startup, has announced an $80 million Series C funding round, propelling its valuation to nearly $850 million.
Heading into Spring 2025, the investment landscape for insurtech is being shaped by the lingering aftershocks of 2024’s volatile global environment.
Outmarket AI, a commercial insurance intelligence platform, has raised $4.7 million in seed funding, marking a significant milestone in its growth and development.
InsureVision, a company specialising in AI-powered contextual driving risk assessment, has announced a $2.7 million seed funding round.
Previsico, an insurtech company specialising in live flood alerts, has secured further funding to support its growth, particularly in the United States.
Insurtech firm CoverForce has raised $13 million in a Series A financing round led by Insight Partners, with additional participation from Nyca Partners.
InsuranceDekho, a leading Indian insurtech platform, has announced a US$70 million funding round, co-led by Beams Fintech Fund, Japan’s Mitsubishi UFJ Financial Group (MUFG), and insurer BNP Paribas Cardif through its insurtech fund managed by Eurazeo.
Japan Post Insurance is exploring a potential investment of up to $2 billion in a new reinsurance co-investment vehicle sponsored by Global Atlantic Financial Group, a U.S. life, retirement, and annuities insurance and reinsurance company.
Cyber insurance leader Coalition has announced a $30 million equity investment from Mitsui Sumitomo Insurance Co. (MSI), a subsidiary of MS&AD Insurance Group, the largest non-life insurer in Japan and the Asia-Pacific region.
CompScience, a leading provider of AI-driven risk prevention solutions in commercial P&C insurance, has secured $27.6 million in a Series B funding round led by Sands Capital.
UK-based pet insurance startup Napo has raised £12 million in a Series B funding round, bringing its total funding to date to approximately £36 million.
Texas-based insurtech startup Adaptive Insurance has raised $5 million in a seed funding round led by Congruent Ventures, with participation from Montauk Climate, Generation Space, and other private investors.
Azos, a Brazilian insurtech specialising in life insurance, has secured $30.5 million in a Series B funding round led by Lightrock.
Euroins Bulgaria, a subsidiary of Euroins Insurance Group (EIG) and part of Eurohold, has successfully completed a capital increase, raising BGN 115 million (€58.8 million).
Specialty Risk Re (SRR), a collateralised reinsurance company founded in 2024, has announced the successful completion of a $50 million institutional funding round. The investment was led by private equity firm NMS Capital Group.
BlueOrchard Finance, a Swiss impact investment manager, has announced that its InsuResilience Investment Fund II (IIF PE II) has reached its fundraising target of US$100 million.
AI-driven insurtech company COVU has increased its Series A financing to $22 million, aiming to scale its artificial intelligence capabilities and expand its market presence.
Muffintech, a Berlin-based insurtech startup, has announced a €3.5 million funding round to further develop its AI-driven solutions for insurance companies and brokers.
Wopta Assicurazioni, an Italian Managing General Agent (MGA), has successfully closed a €4 million funding round, bringing its total investment to €12 million.
High Definition Vehicle Insurance (HDVI), a technology-driven commercial auto insurance provider, has secured $40 million in growth capital, bringing its total funding to over $87 million.
SelectQuote Insurance Services, a leading Medicare broker, has announced a $350 million strategic investment from funds managed by Bain Capital, Morgan Stanley Private Credit, and Newlight Partners.
Vigil, a data platform for the annuity industry, has raised $1.3 million in pre-seed funding to expand its API-driven automation solutions for insurance carriers.
Business insurance startup Upcover has raised $19 million in funding to fuel its expansion, including $11 million in Series A investment led by RealVC, with participation from Antler Elevate, BetterLabs, and Gandel Invest.
IAG Firemark Ventures, the corporate venture capital arm of general insurer IAG, has announced an investment in 7Analytics, a flood data platform that enhances insurers’ ability to assess flood risks in response to urbanisation and climate change.
San Diego-based XILO, a provider of quoting software for independent insurance agencies, has successfully raised $7.2 million in its latest Series A funding round.
Home insurance startup Openly has announced a $193 million growth financing round, bolstering its expansion efforts and reinforcing its position as a leader in the insurtech space.
Hedgehog Risk, a specialist provider of sports and prize insurance, has received a significant investment from SIG Insurance, part of the Susquehanna International Group, a global quantitative trading and investment firm.
Insurtech companies have kicked off 2025 with a bang, securing significant funding rounds in January. This surge in investment signals a promising start to the year for the industry, with investors expressing confidence in the sector’s potential for growth and innovation.
Pula Foundation, a Rwandan-based insurtech company, has received a €10 million grant from the Bayer Foundation to expand access to climate risk insurance for 10 million smallholder farmers by 2030.
Wopta Assicurazioni, an Italian insurtech company, today announced the successful completion of a funding round that included a club deal led by Belluzzo International Partners, bringing total funding to €12 million.
The Coalition for Green Capital (CGC) today announced a significant investment of $200 million in GreenieRE, a newly formed insurance company dedicated to supporting the growth of clean energy projects.
Weecover, the Barcelona-based insurtech innovator specializing in embedded insurance, today announced the successful closing of a €4.2 million funding round.
Qumis, an innovative AI-powered platform designed to assist insurance professionals, today announced the closing of a $2.2 million pre-seed funding round.
Naked, the South African insurtech company, has announced the successful closing of a $38 million (approximately R700 million) Series B2 funding round.
Instabase, a leading provider of applied artificial intelligence (AI) solutions for unstructured data, today announced the closing of a $100 million Series D funding round led by QIA, with participation from existing investors Greylock Partners, NEA, Andreessen Horowitz, and Index Ventures.
Olé Life, a leading Latin American InsurTech company, has successfully raised $13 million in a Series B funding round led by PayPal Ventures.
Rainbow, a managing general underwriter (MGU) specialising in business insurance, has announced the successful close of an $8 million Series A funding round led by Zigg Capital.
Overhaul, a leading provider of supply chain risk management and intelligence solutions, has announced the successful completion of a $55 million equity funding round.
Parsyl Inc., a data-powered insurer of complex supply chains, today announced it has raised $20 million in new funding to accelerate its growth strategy.
Jones, a leading AI-driven vertical software company specialising in insurance verification for real estate and construction, has announced the successful close of a $15 million Series B funding round.
Matic Insurance, a leading provider of embedded insurance solutions, today announced it has secured $30 million in growth funding from Vistara Growth.
ICEYE has successfully closed a $65 million extension to its growth funding round, bringing its total capital raised in 2024 to $158 million.
Wefox, the European insurance technology company, is close to securing a significant funding package led by Searchlight Capital Partners, the private equity firm behind travel company Secret Escapes.
DvSum, a leading provider of data intelligence solutions, has joined Guidewire’s Insurtech Vanguards program, a community designed to foster innovation within the P&C insurance sector
2024 was a year of significant shifts in the global economy, marked by international conflict, inflation and rising interest rates, an uncertain political future and of course, the start of the AI evolution.
bolttech has announced Dragon Fund, by Liquidity and MUFG, is leading bolttech’s Series C funding round alongside investors Baillie Gifford, Generali – through Lion River, the Group’s company dedicated to Private Equity, and others, which is expected to total more than US$100 million.
Bikmo, the specialist cycle insurer, has secured an additional £4.75 million in funding from Puma Growth Partners. The investment will fuel Bikmo’s growth in Europe, particularly in direct sales, partnerships, leasing, and commercial channels.
Hostaway, a leading provider of vacation rental software and management systems, today announced a $365 million strategic growth investment led by General Atlantic, with participation from existing investor PSG Equity.
Insurtech startup Sola has successfully raised $3.7 million in its seed funding round, advancing its mission to offer affordable and reliable natural disaster insurance to homeowners and businesses.
B.P. Marsh & Partners Plc (AIM: BPM), a specialist private equity investor in early-stage financial services firms, has announced an additional investment of $12.6 million in XPT Group LLC, a leading U.S.-based insurance distribution platform.
Poncho, a Swiss startup specialising in weather-based refunds for outdoor experiences, has raised $617,000 in seed funding.
Indian insurtech startup Zopper has raised $25 million in a Series D funding round led by Elevation Capital and Dharana Capital, with continued support from existing investor Blume Ventures, Business Standard reports.
Chartered commercial broker Konsileo has successfully secured £8 million in funding to propel its expansion across the UK.
Insurtech startup Federato has announced the successful close of a $40 million Series C funding round, led by StepStone Group, with continued backing from existing investors Emergence Capital, Caffeinated Capital, and Pear VC.
Bolttech, a fast-growing global insurtech company, has announced the successful closure of a USD 50 million venture debt facility with HSBC.
Fortegra, a global specialty insurer and subsidiary of Tiptree, has successfully secured $150 million through the issuance of 9.25% Fixed Rate Resetting Junior Subordinated Notes due 2064.
Reinsurance Group of America, Incorporated (NYSE: RGA), a leading global life and health reinsurer, announced today that Ruby Reinsurance Company (Ruby Re), a Missouri-domiciled third-party life reinsurance company, has successfully closed a second round of funding, raising a total of $480 million in capital.
Venture capital funding in insurance technology (insurtech) is showing signs of stabilization, projected to hit $4.2 billion by the end of 2024, reflecting levels not seen since 2018.
Delos Insurance Solutions, a property insurance managing general agent (MGA) focused on wildfire-prone areas, has successfully raised $9 million in a Series A funding round led by HSBC Asset Management.
Regal, a leading provider of AI-powered contact center software, has secured $40 million in funding to accelerate the development and deployment of its innovative AI Phone Agent technology.
October 2024 has been a banner month for insurtech startups, with a flurry of significant funding rounds pouring millions of dollars into the space.
Inspectify, a property inspection and underwriting platform, has raised $5.26 million in a new funding round led by Munich Re Ventures.
Aurora Insurance, a digital commercial insurance platform based in London, has announced securing seed funding from QBE Ventures, the investment arm of QBE Insurance Group.
Likewize, a global provider of tech protection, support, and extended warranties, has announced that Genstar Capital has increased its investment in the company.
Agentech, a leading AI-powered workforce solution for insurance claims, has raised $3 million in seed funding within 30 days, setting the stage for expansion into Property & Casualty (P&C), Workers’ Compensation, and Travel claims workflows.
Herald, a leading digital infrastructure provider for commercial insurance, has announced the successful close of a $12 million Series A funding round.
Global embedded insurance provider INSHUR has successfully raised $19 million in a new funding round led by Viola Growth, bringing its total funding to $78.5 million since 2019.
ClaimSorted, an insurtech company dedicated to streamlining claims processing, has raised $3 million in pre-seed funding.
Diesta has announced the successful closing of a $3.8 million seed funding round. The round was led by FinTech Collective, with participation from Commerce Ventures and existing investors.
Stoïk, a Paris-based cyber insurance startup, has successfully raised $27 million in Series B funding, led by Alven.
COVU, a leader in AI-native services for insurance agencies, has announced the successful completion of $12.5 million in equity and debt financing as part of its first Series A funding round.
Stream Claims, an insurtech startup specialising in AI-powered medical document review for workers’ compensation, has raised $5.3 million in a seed funding round led by Spark Capital.
San Mateo-based startup Pinpoint Predictive has announced the successful close of its Series A funding round, raising over $23 million.
Qantev, a leading provider of AI-powered claims management solutions for health and life insurers, has secured €30 million in a new funding round led by Blossom Capital.
US-based insurtech managing general agent Ledgebrook has secured $17 million in a Series B funding round, led by Duquesne Family Office with participation from The Stephens Group, along with continued backing from long-time partners Brand Foundry Ventures and American Family Ventures.
Flora Fertility, an innovative insurtech company, has closed an oversubscribed pre-seed funding round, raising $1.5 million to develop and launch the first individually-owned fertility insurance solution across the US and Canada.
Digital adoption solutions provider Whatfix has raised $125 million in its Series E funding round, pushing its total funding to $264.8 million.
Nym, a leading Israeli healthtech startup, has secured $47 million in a growth investment round led by PSG.
Jakarta-based Health insurtech startup Rey has secured an additional $3.5 million in funding to expand its AI-powered health insurance platform.
Insurtech is revolutionising the insurance industry, bringing innovative solutions to traditional practices. As the sector continues to evolve rapidly, funding plays a crucial role in driving growth and innovation.
Centivo, a leading healthcare company dedicated to making high-quality healthcare more affordable, has announced the successful completion of a $75 million financing round.
arqu, a tech-enabled wholesale insurance brokerage based in San Francisco, has raised US$10 million in a Series A round led by Crosslink Capital with participation from Intact Ventures.
Madrid-based insurance startup, Tuio, has successfully raised $16.7 million in a combination of equity and debt.
Koltin, a Mexican insurtech focused on providing private health insurance for seniors, has raised $7.3 million in a Series A funding round led by Left Lane Capital.
Functional Finance, a software platform “revolutionising financial operations” for managing general agents, insurance companies, and wholesalers, announced the closing of a $20 million Series A funding round led by Walkabout Ventures, with participation from Munich Re Ventures and Phil Edmundson, the founder of Corvus Insurance.
CarePay International, a leading innovator in next-generation health insurance platforms based in Amsterdam, has raised €10 million in fresh funding from Reinsurance Group of America (RGA) and the Health Insurance Fund (HIF), a fund supported by the Ministry of Foreign Affairs of the Netherlands.
Roots Automation, an AI-driven solutions provider for the insurance industry, has secured $22.2 million in a Series B funding round led by Harbert Growth Partners, with participation from MissionOG, Liberty Mutual Strategic Ventures, and Vestigo Ventures.
Nayya, a leading platform that simplifies employee benefits selection and management, has announced a new investment from Workday Ventures.
FifthWall Solutions, a Pennsylvania-based cyber insurance wholesaler, has successfully raised $5 million in Series A funding to fuel its growth.
SME-focused insurtech startup Onsurity has raised an additional $21 million, led by private equity firm Creaegis, to complete its Series B funding round at $45 million.
Akur8, the AI-powered insurance pricing and reserving platform, has raised $120 million in its latest Series C funding round, bringing its total funding to $180 million.
Nirvana, a pioneering health tech company specialising in insurance verification and eligibility with machine learning and artificial intelligence, has announced a successful $24.2 million Series A funding round.
NEAT Protect, a leading provider of embedded insurance solutions based in Paris, has raised €50 million in a Series A funding round, led by Hedosophia, with support from Mundi Ventures, ETFS Capital, Athletico Ventures, and existing investors.
US-based insurtech managing general agent (MGA) Ledgebrook has raised $17 million in a Series B funding round.
Optalitix, the specialist insurance and finance software provider, today announced a follow-on fundraising round of US$3 million led by existing investor Calculus Capital, with participation from 24 Haymarket and others.
Sigo Seguros, a car insurance startup dedicated to serving underserved communities, has raised $10.5 million in a Series A funding round.
Mitsui Sumitomo Insurance (MSI), part of the MS&AD Insurance Group, has announced a strategic investment in Serenity Health Partners Pte. Ltd., a Singapore-based company focused on health insurance.
San Francisco-based health benefits startup Thatch has secured $38 million in a Series A funding round, led by Index Ventures and General Catalyst.
The Demex Group, a risk analytics and intelligence firm specialising in stop-loss reinsurance protection, has raised $10.25 million through a Series A and previous SAFE funding round, led by Congruent Ventures. Moxxie Ventures, MetaProp, and existing investor Blue Bear Capital also participated.
Korint Insurtech, a rising player in the digital insurance space, has raised €5 million in a funding round led by venture capital firm Ventech, with continued support from 360 Capital.
InsurancePadosi, an Indian insurtech startup, has announced that it has successfully raised $500,000 in a pre-seed funding round led by the global early-stage VC Antler.
redalpine, the European Venture Capital firm, has today announced the successful closure of its largest-ever fund, “redalpine Capital VII (RAC VII),” at $200 million.
Ascot Group, the Bermuda-based global specialty insurer, has announced the launch of a unified capital management platform, Leadline Capital Partners, to support their expanded third-party capital business.
Accession Risk Management Group, the parent company of One80 Intermediaries and Risk Strategies has announced it has successfully raised $1 billion in financing to support its growth and continued expansion.
Archera has announced it has successfully completed a $17 million Series B Funding Round, paving the way for expansion into multi-cloud offerings, and securing access to over $100 million in reinsurance capacity.
QuickFacts, an insurtech startup dedicated to enhancing efficiency in the insurance industry, has announced the successful closure of an oversubscribed $2 million funding round.
Companion Protect, a Kansas City-based company specialising in pet insurance and wellness administration, has successfully raised $20.25 million in a Series A extension round.
Gradient AI, a leading provider of artificial intelligence (AI) solutions for the insurance industry, has raised $56.1 million in its latest Series C funding round.
Levitate, an insurer-backed innovative Happiness Platform, has successfully raised $15 million in a Series D round.
Houlihan Lokey, the global investment bank, has agreed to acquire Waller Helms, an independent advisory firm providing investment banking services to clients in the insurance and wealth management sectors.
Scamnetic, a startup leveraging advanced AI to protect users against a wide range of digital scams, has successfully closed a $1.35 million pre-seed funding round.
Chaiz, a Texas-based marketplace for extended car warranties, has successfully raised $3.7 million in a seed funding round as it seeks to expand its coverage options.
Walnut has announced the successful close of its latest funding round, securing CAN$4.6 million. The investment will be used to expand Walnut’s groundbreaking embedded insurance technology platform for insurers, brokers and enterprise businesses looking to participate in the future of insurance distribution.
Hub International Limited, a global brokerage and financial services firm, has completed the acquisition of Pennsylvania-based Insurance Management Company (IMC). The terms of the deal were not disclosed.
Guidehealth announced on Tuesday that it has secured $14 million in seed funding, with major contributions from the non-profit Memorial Hermann Health System in southeast Texas, entrepreneur Sidd Pagadipati, and other healthcare investors and industry leaders.
Inscora, a Canadian startup providing automated cyber risk assessments and sales enablement solutions to cyber insurance brokers, has successfully raised $2 million in a funding round.
Safe-Guard Products has announced a new investment from Hellman & Friedman, a private equity firm. Founded in 1992 and based in Georgia, Safe-Guard Products is a provider of third-party private label finance and insurance protection products for the automotive, RV, marine, and powersports industries.
Juno – the first company in the US to provide child disability insurance closes US$8.5 million Series A funding to expand reach of new core employee benefit
Insurtech funding in Latin America plummeted to a historic low of $26 million in the first half of 2024, representing a sharp 78% decline compared to the same period in 2023. Over the 12 months from July 2023 to June 2024, the total funding reached $43 million, marking the lowest figure on record.
The Agencia Española de Cooperación Internacional para el Desarrollo (AECID) has announced an investment of €25 million in management agency Mundi Ventures, agreeing that the funding will be allocated to insurtech startups and parallel sectors aiming to improve and digitise the insurance sector.
Enzo the German-based startup dedicated to solving the global problem of tap water pipe damage in buildings, has announced the successful completion of a $2.5 million seed funding round.
Solera, a global provider of SaaS solutions, has announced it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of shares of its common stock.
Natural Capital Research (Natcap), a startup specialising in nature and biodiversity intelligence, has announced it has successfully raised $10 million in a Series A funding round.
Wopta Assicurazioni, an insurtech MGA established to support businesses and professionals against everyday risks, has successfully closed a €4.1 million Series A funding round. The raise brings the total raised since its inception to approximately €8 million.
Supercede, a digital reinsurance platform, has successfully raised US$15 million in a Series A funding round. The funding was led by Alven, with participation from Mundi Ventures, Outward, Seedcamp, MMC Ventures, and AFG Partners.
Feather, a startup focused on providing digital insurance solutions for expats in Europe, has secured €6 million in a funding round led by Keen Venture Partners. Additional investors include Plural and industry leaders from Allianz, AXA, and Bastian.
Sidecar Health, an innovative health insurance company, has raised $165 million in a Series D financing round. This investment marks the largest private investment in employer health benefits for the year.
Lloyd’s has announced a new Canadian Core Fixed Income Solution on the Lloyd’s Investment Platform.
Norm Ai, a cutting-edge regulatory compliance platform, has successfully raised $27 million in a Series A funding round. The round was led by Coatue, with significant participation from Bain Capital Ventures, Blackstone Innovations Investments, New York Life Ventures, Citi Ventures, TIAA Ventures, and Jefferson River Capital.
Climate risk intelligence company Climate X has raised $18 million in a Series A investment round led by Google Ventures. The funding round also saw participation from Pale blue dot, CommerzVentures, A/O, Blue Wire Capital, PT1, Unconventional Ventures, and Western Technology Investment.
IBISA, the global climate insurtech, has successfully raised $3 million to scale its parametric insurance solutions for weather-related risks in Asia and Africa.
PCF Insurance Services, one of the top twenty US insurance brokers operating across 40 states, has announced the acquisition of four key agencies: Ignitist in Pennsylvania, The Brady Agency in North Carolina, Roseberry Insurance Agency in Mississippi, and The Sinnott Agency in Iowa.
Verituity, a leading innovator in verified, intelligent payments, has successfully closed out an $18.8 million funding round.
Humata Health, a healthcare company specialising in frictionless prior authorisation payments for payers and providers through AI and automation, has successfully raised $25 million.
Kinetic Automation, an infrastructure company delivering digital maintenance and servicing for EVs and AVs, has successfully closed a $21 million Series B funding round.
African Risk Capacity (ARC) has announced it has received a $27 million contribution from the Dutch Government to help boost climate resilience in Africa and further promote parametric insurance across the continent.
Chexy, a Canadian startup which allows renters to pay their rent online whilst earning rewards and building credit, has announced it has raised $3 million in a seed round.
ZA Tech, a next-generation insurance core system SaaS provider, has rebranded as Peak3 and has also announced the completion of its US$35 million Series A fundraising from EQT (lead investor) and Alpha JWC Ventures.
Amplify, an insurtech seeking to democratise life insurance, announced it has raised $20 million in a Series B funding round.
Insurtech funding has seen a significant uptick in recent weeks with raises almost reminiscent in frequency of the 2021 digital transformation boom.
Finsall, a Fin+InsureTech, has successfully secured a $1.8 million bridge round, led by existing investors Unicorn India Ventures and Seafund alongside other institutional participants.
Pyte, a Los Angeles-based company specialising in secure computation platforms, has announced it has raised an additional $5 million in funding, bringing its total funding to over $12 million.
YesWeHack, a prominent Bug Bounty and cybersecurity vulnerability management platform, announced it has successfully raised €26 million in a Series C funding round.
Anterior, an insurtech using AI to expedite health insurance approval for medical procedures, has successfully closed a $20 million Series A round at a $95 million valuation.
Axis Insurance, a Canadian specialty insurance brokerage, announced it had received a significant strategic investment from Lee Equity Partners, a mid-market fund specialising in the financial services and healthcare sectors.
Guidewire, a leading platform provider for property and casualty (P&C) re/insurers, has significantly contributed to a $19 million funding round for Indico Data, a company specialising in automating essential workflows for document-intensive industries such as insurance and financial services.
Continuity, an insurtech using artificial intelligence and external data for professional and commercial P&C insurers, has announced a successful €10 million Series A funding round.
Understory, a provider of insurance solutions against severe weather losses, has secured $15 million in a Series A funding round to develop a new product for the renewable energy sector.
Sixfold, a generative AI insurtech for underwriters, has raised $15 million in a Series A round.
Insurtech Insights USA 2024, the premier gathering for innovators and leaders in the insurance technology industry, is excited to announce its lineup of top speaker sessions taking place at the Javits Center on June 5th and 6th.
FintechOS, a leading end-to-end financial product management platform, has announced it has completed a successful $60 million Series B+. The round was led by Molten Venture, Cipio Partners, and BlackRock alongside existing investors EarlyBird VC, OTB VC, and Gapminder VC.
ifeel raises US$20 million to save millions in mental health-related disability, productivity and claims for insurance companies and corporates around the world
Bondaval, a British insurtech which provides protection against payment defaults has secured backing from a leading European Venture Capital.
Canadian Insurtech APOLLO has raised US$13.4 million to establish its buy-now-pay-later (BNPL) subsidiary, Finshore. FinShore will provide a fully embedded monthly payment option to over 100,000 Canadians who are insured with Apollo.
Authentic Insurance, a New-York based insurtech startup has raised US$11 million in a Series A funding round led by First Mark Capital, with participation from Slow Ventures, Altai Ventures, MGV, Upper90, and Commerce Ventures.
Swiipr, a travel paytech company announced it has secured US$7.6 million in funding to further develop its platform aimed at disrupting and revolutionising airline disruption payments.
Cover Whale, a leading InsurTech company specialising in connected insurance for commercial auto, has successfully secured US$27.5 million in debt and equity from investment funds managed by Morgan Stanley Expansion Capital.
Vitesse, a leading treasury and payment solutions provider for the insurance industry, today announced the completion of a $93 million Series C funding round led by leading global investment firm, KKR, with participation from existing investors, including Hannover Digital Investments.
Arbol, a climate-focused insurtech startup, has successfully raised $60 million in a Series B funding round. Giant Ventures and Opera Tech Ventures co-led the round, with participation from Mubadala Capital, joining existing investors Finch Finance and Space Capital.
Care coordination company Watershed Health has successfully completed a $13.6 million funding round.
Norwegian flood risk startup, 7Analytics, has announced a successful funding round of €4 million from Scale Capital, a prominent investment firm.
BimaPay, an insurtech startup, has successfully secured US$2 million (approximately INR 16.7 crore) in funding, led by LC Nueva Investment Partners.
Indian insurance startup Go Digit has successfully raised US$141 million from numerous investors in anticipation of its upcoming initial public offering (IPO).
Leading embedded insurance provider Cover Genius, has announced the successful closure of its $80 million Series E funding round.
In a significant stride towards revolutionizing senior healthcare accessibility, Chapter Medicare, a leading Medicare broker headquartered in New York, has successfully raised $50 million in its Series C funding round.
Maritime technology startup Vanguard has successfully secured US$1 million in new funding aimed at advancing its automated insurance underwriting platform for maritime operations.
Led by Portage with participation from AV8, Distributed Ventures, and Detroit Venture Partners, CoverTree launches an enterprise suite to provide homeowners with leading quality insurance coverage.
London-based insurtech company Eleos has raised US$4 million in a seed funding round to support its planned expansion into the United States.
Israeli insurtech company Honeycomb has secured US$36 million in a Series B funding round, the company has announced.
Arbol, a climate risk solutions provider with a global footprint across more than 15 countries, has announced the successful closure of a $60 million Series B funding round.
London-based insurance startup Urban Jungle is set to announce a new funding round of approximately $14 million this week, according to a Sky News report.
FlashAid, a Mumbai-based healthcare and insurtech startup, announced it has raised $2.5 million in a pre-Series A funding round.
PCF Insurance Services, a top 20 U.S. insurance brokerage, has secured US$400 million in additional debt financing.
UK Insurtech firm PeppercornAI has successfully raised US$4 million in funding, with investments coming from Wealth Club, EHE, and Angels Invest Wales.
Faura, a startup focused on building resilience in the property insurance sector, has raised $500,000 in its first round of funding.
Rainwalk Technology, a leading white-label pet insurance technology provider, has announced the successful completion of a $4 million Seed funding round.
Estaly, a French insurance startup, has secured US$3.8 in seed funding from OneRagtime, CDG Invest, and approximately 20 angel investors.
AI insurance ventures experienced an 18% year-on-year increase in funding in 2023, raising nearly $2 billion through private equity and venture financing, according to GlobalData’s Technology Foresights model.
London-based startup Unwritten, previously known as Dovetail Finance, has completed a seed funding round, raising $3.5 million.
Jensten, a leading UK-based broker and underwriting group, has secured US$211 million in new borrowing facilities, and has announced it is pledging $1.2 million towards launching new brokers.
ICEYE, a global leader in satellite-powered disaster management solutions, has finalised a definitive agreement for an oversubscribed US$93 million growth funding round, with Solidium Oy at the forefront.
Health insurance claim assistance platform ClaimBuddy has successfully concluded its Series A funding round, securing a significant US$5 million investment.
Pula, a Kenyan-based insurtech firm, has successfully raised US$20 million in Series B funding to bolster its efforts in providing agricultural insurance to farmers in Africa, Asia, and Latin America.
2024 has seen a raft of impressive investment rounds hitting the headlines. Are we in full-blown investment recovery? Or is this a slowdown rebound? Insurtech Insights rounds up the top funding events.
Hudson Structured Capital Management Ltd. (HSCM), a leader in reinsurance, insurtech, insurance-linked securities (ILS), and transportation investments, has successfully raised more than $175 million for the launch of its new life insurance-focused continuation fund, HS Mohawk Fund I LP.
The Achmea Innovation Fund has announced its investment in Laka, a pioneering European micromobility insurer, as part of its strategic move towards fostering smart and sustainable mobility solutions.
Brazilian insurtech startup Akad has successfully raised US$22.5 million in Series A funding, with Valor Capital Group and Across Capital serving as co-leads in the investment round.
Novidea, the pioneer of cloud-based, data-driven enterprise insurance management platforms, has raised an additional US$30 million from HarbourVest Partners.
Australian insurtech startup Honey Insurance, has raised US$108 million in its Series A funding round, attracting significant interest from investors in the United States.
Canadian insurance sector, Summit, a burgeoning insurance brokerage, has successfully raised US$3.5 million in Seed funding.
CrashBay, the pioneering digital marketplace for collision repair solutions, has announced the successful closure of a $1.25 million funding round. Spearheaded by venture capital firm Markd, this funding round also saw participation from key figures in the collision and insurance industries.
Security and risk management startup SydeLabs announced their seed funding round of $2.5m to build solutions aimed at securing GenAI systems for enterprises.
Oka, a leading provider of carbon credit insurance, announced the successful completion of a $10 million funding round.
Qoala, a prominent Indonesian insurance startup, has successfully closed a funding round, raising an impressive US$47 million.
German insurtech startup ELEMENT has secured €50 million in funding from Versorgungswerk der Zahnärztekammer Berlin K.d.ö.R. and Alma Mundi.
Sertis, a Managing General Agent (MGA) specialising in property owner coverage, has successfully secured $3.2 million in a recent funding round.
Insurtech Coterie, which specialises in services for small businesses, has successfully secured a substantial US$27 million in funding during a post-Series B round.
Empathy, a pioneering company revolutionising the approach to grief and loss, announced the successful closure of a US$47 million Series B funding round, spearheaded by Index Ventures, alongside notable contributions from General Catalyst, Entrée Capital, Latitude, and Brewer Lane.
Sostengo, a leading insurtech based in El Salvador, has successfully closed a financing round amounting to $3.8 million, aimed at fueling its user growth across Latin America.
Vouch, a leading provider of business insurance services tailored for high-growth companies, has announced the successful closure of a $25 million Series C-1 funding round, with Ribbit Capital leading the investment.
The U.S. Federal Emergency Management Agency (FEMA) has solidified its commitment to bolstering the National Flood Insurance Programme (NFIP) by obtaining $575 million in reinsurance coverage through insurance-linked securities (ILS) reinsurance.
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