ALL LATEST FUNDING ROUNDS

We regularly curate the latest news and insights to create the largest platform for knowledge-sharing and development within the world’s insurance industry.

Insurtech Startup iLife Raises $4 Million

Playa Vista-based iLife Technologies Inc., a software platform that gives insurance agents and brokers the ability to quickly create their own digital insurance agencies, has received $4 million in seed funding.

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Bought By Many closes $350 million Series D round

As per the data from the Pet Food Manufacturers’ Association, during the pandemic crisis – in the UK alone – around 3.2 million households have bought a pet, taking the country’s total number of pets to more than 34 million. This pandemic pet boom has also impacted the pet insurance sector just like boom in sale for retailers like Pets at Home.

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Cyber risk management startup VisibleRisk secures $25M

VisibleRisk, a joint venture between Moody’s Investors Service and VC firm Team8, today announced that it raised $25 million for its cyber risk evaluation platform. The proceeds — which come as VisibleRisk launches a new risk assessment service, Cyber Rating — will be used to expand the company’s workforce well into this year.

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Insurers need to rethink customer experience

Capgemini and Efma’s World Insurance Report 2021 finds that insurers need to rethink their distribution models to offer uninterrupted service, superior customer experience (CX), and maximum value, as the industry’s business dynamics continues to evolve.

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The Insurtech Race Is on for Asian Insurers

Digital innovation is taking Asia’s insurtech sector by storm. When looking at the current climate, it remains clear that insurtech is well set to surpass the region’s fintech wave, and with the timely addition of AI technology and increased digital adoption, the experience customers have with insurance is taking on an incredible new form.

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Arturo Raises $25 Million in Series B Funding Round

Artificial intelligence (AI) and deep-learning property analytics company, Arturo has raised $25 million in a Series B funding round led by Atlantic Bridge Capital, with participation from RPS Ventures and existing investors Crosslink Capital and IAG Firemark Ventures.

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Insurance Risk Platform Archipelago Raises $34 Million

Insurance risk platform Archipelago has raised $34 million in funding led by Scale Venture Partners and earlier investors Canaan Partners, Ignition Partners, and Zigg Capital. Principals from Stone Point Capital, along with Prologis Ventures, also participated in the round.

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Why Insurtechs are on Board with SPAC-Mania

The past six to twelve months in insurance have seen a historic level of activity for mergers and acquisitions, new investments, and public offerings. It seems like every type of entity in the insurance world has been swept up in this trend.

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Insurtech Startup Counterpart Raises $10M in Funding Round Led by Valor Equity Partners

Insuretech startup Counterpart, has raised $10 million in funding led by Valor Equity Partners. Also participating was Susa Ventures and Felicis Ventures. Counterpart works in the ‘management liability’ insurance market. Counterpart will also partner with Markel Specialty, a specialty insurance division of Markel Corporation, to offer its management liability insurance products.

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Hi Marley Raises $25 Million Series B Funding to Build upon Leading Intelligent Communication Platform for Insurance

Hi Marley, creators of the only intelligent communication platform built for the insurance industry by people who know insurance, announced the company has closed a $25 million Series B financing round. The investment was led by Emergence Capital, with Founder and General Partner Gordon Ritter taking a seat on Hi Marley’s Board. Returning firms Underscore, True Ventures, Bain Capital Ventures and Greenspring also participated in the round, along with additional investors including Brewer Lane Ventures.

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Leading InsurTech Company TypTap Raises $100 Million

TypTap Insurance Group, Inc., is pleased to announce that a fund affiliated with Centerbridge Partners, L.P. has invested $100 million in the company. The investment, representing about 11.75% of TypTap, implies a post-money valuation for TypTap of approximately $850 million.

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Zurich Invests in InsurTech Startup My Policy

My Policy, a leading UK provider of data analytics and telematics insurance, announces today an investment by Zurich Group, as part of which Zurich will become a long-term insurance capacity provider, joining an existing panel of insurers to enable rapid growth of My Policy’s recently launched usage-based insurance (“UBI”) product, JURNY.

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3 Insurance IPO Launches To Watch In 2021

The IPOs of several insurance companies, such as Lemonade Inc (NYSE: LMND), in 2020 may lead to additional companies in the sector hitting the public market in 2021. Companies could explore a traditional IPO or a SPAC deal to bring their insurance companies public.

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Pawlicy Advisor raises $6.5 million in Series A

Pawlicy Advisor, the leading pet insurance marketplace, announced today it has raised a $6.5 million Series A funding round led by Rho Capital Partners and existing investor Defy Partners. The round also included significant investment from Slow Ventures. This brings the company’s total funds raised to $8 million to date.

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DigitalOwl Raises $6.5 Million

Digital Owl, a provider of AI-powered medical claim analysis software, has emerged from stealth with $6.5 million. The company plans to use the funding, a seed round, to expand its workforce and further develop its technology platform.

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SmartHop Raises a $12M Series A to Ease Trucking Logistics

SmartHop announced today that it raised $12 million in a Series A round, bringing the company’s total funding to date to $16.5 million. The round was led by Union Square Ventures, whose past investments include Stripe, Twitter, Coinbase, Etsy, MeetUp, SkillShare and Duolingo, among others.

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Digital Insurance Company WeSure Files to Raise £22 Million on TASE

WeSure Global Tech, the parent company of digital insurance company WeSure, has published a prospectus for an Initial Public Offering (IPO) on the Tel Aviv Stock Exchange (TASE). The company plans selling a 20% stake for NIS 100 million (or £22 Million) at a company valuation of NIS 500 million(or £110 Million), after money.

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Briza Raises $8 Million

Toronto-based insurtech Briza has raised a $10.2 million CAD ($8 million USD) Series A round as the startup aims to meet significant demand for its insurance carrier integrations.

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InsurTech Coterie Raises $11.5 Million

Coterie pulled in $11.5 million in new venture funding it will use to fuel further expansion of its business, which is designed to integrate insurance purchasing into existing small businesses processes.

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Insurtech LeaseLock Raises $52 Million

LeaseLock, the world’s leading insurtech platform for real estate, today announced the closing of a $52 million Series B financing that will expand its industry-leading lease insurance product into the first AI-powered financial technology platform for enterprise real estate. LeaseLock has insured $1 billion in leases to-date, across the nation’s largest multifamily operators and preeminent asset owners.

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TrustLayer Raises $6.6 Million

TrustLayer, the collaborative risk management platform, today announced it has completed a $6.6 million seed round of financing. Abstract Ventures led the round with participation from Propel Venture Partners, NFP Ventures, BoxGroup, and Precursor Ventures. The round was heavily oversubscribed, a reflection of the strength of TrustLayer’s current compliance software and its success in developing a digital proof of insurance solution.

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Thai Insurtech Firm Gettgo Raises $6.7 Million

Muang Thai Broker, the operator of online insurance comparison firm Gettgo, has raised US$6.7 million from parent company Muang Thai Group Holding as it aims to reach US$33.3 million in insurance premiums in the next three years.

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Insly Raises €1.3 Million

Insurance SaaS software provider Insly has secured a seed extension of 1.3M EUR from existing VCs Concentric and Uniqa Ventures, with participation from The British Business Bank’s Future Fund Scheme. Combined with solid results for 2020 – €72K in profits and €3.4M in revenues – this will pave the way for scaling up the business in 2021.

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Arbol Raises $7 Million in Series A

NY-based insurance platform for parametric products Arbol announced that it has raised ~$7 million in a Series A round that included Finch Finance, Space Capital, and Mubadala Capital-Ventures.

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Blackstone Backs SUNZ Insurance

SUNZ Insurance announced that funds managed by Blackstone Tactical Opportunities (“ Blackstone“) have acquired a significant stake in the company to help fuel SUNZ’s continued expansion. Terms of the transaction were not disclosed.

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Insurance Blockchain Firm B3i Closes Series B Investment

B3i Services AG has recently completed the first closing of its Series B funding round. In addition to further investments from existing shareholders, Türk Reasürans has become the latest investor in B3i. This continues to expand B3i’s global footprint to include 21 insurers and reinsurers from five continents with offices in over 100 countries.

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Insurtech Sector Sees Record-Breaking Funding Levels

The Insurtech M&A Market Report from international technology mergers and acquisitions advisors, Hampleton Partners, forecasts a record 95 or more M&A deals in 2020, with 48 already banked in the first half of the year. Volume has more than doubled since the year 2013, which saw 46 insurtech transactions.

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Insurtech Pier Receives an Investment of US$ 14.5 Million

Pier, leader in full-stack insurance in Latin America, has recently received a US$ 14.5 million Series A investment led by monashees — pioneer venture capital fund in Latin America, leader in unicorn creation — and with the participation of Canary, Mercado Livre and BTG Pactual

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Highwing Raises $4M

Denver-based Highwing, an insurance technology company born out of IMA Financial Group to help commercial insurance brokers and carriers accelerate workflows through its open data platform, announced that it has closed a $4M fundraising round.

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Hong Kong Insurtech Startup Coherent gets $14 Million Series A led by Cathay Innovation

Based in Hong Kong, Coherent helps insurance providers go digital. With their services more relevant than ever during the COVID-19 pandemic, the startup announced it has raised $14 million in new funding. The Series A round, led by Cathay Innovation with participation from Franklin Templeton, will be used to grow Coherent’s client base in Asia, including insurers who want to add more digital services to their usual sales processes because of the pandemic.

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Ping An Raised $875M

China Ping An Insurance Overseas Holdings, the main offshore investment and asset management platform of Ping An, together with its subsidiaries, have announced the successful

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Matic Raises $24M

Matic Insurance announced the close of a $24 million funding round led by IA Capital Group. Founded in 2014 and a team of ~134, Matic

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Root-founders

Root Files for IPO

Root, Inc., the parent company of Root Insurance Company, announced that it publicly filed a registration statement on Form S-1 with the U.S. Securities and

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Bradley Collins

Bradley Collins