BOXX, a cyber insurance provider for small businesses, individuals and families, announced today that it has closed its oversubscribed USD $10 million (CAD $12.7 million) Series A-round in a bid to accelerate growth and expand its footprint internationally. The new investors are Cyber Mentor Fund (CMF), Zurich Insurance Group (Zurich) and SixThirty Ventures.
ALL LATEST FUNDING ROUNDS
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Just Insure, a pay-per-mile insurance technology company, has raised $8 million in a funding round.
bolttech, one of the fastest growing international insurtech unicorns, today announced the extension of its recently-announced US$180 million series A funding round led by Activant Capital Group, bringing the series total to US$210 million. The largest ever Series A round for an insurtech now adds two new strategic investors in bolttech, Singapore-based global investor EDBI (“EDBI”) and Alma Mundi Insurtech Fund, Spain (“Mundi Ventures”).
Previsico gains £1.75mil funding to support growth and next generation global flood warning solution
Insurtech Previsico today announced that it has gained £1.75mil Seed Plus funding, led by Foresight Group,
a listed private equity and infrastructure investment manager, to support the next stage of their product development, including IoT sensors, team expansion and sales growth, in the UK and beyond.
Ascend on Wednesday announced a $5.5 million seed round to further its insurance payments platform that combines financing, collections and payables.
Envelop Risk, a leading data-driven underwriting and risk analytics business, today announced a Series B investment of $130 million led by SoftBank Vision Fund 2.
BriteCore, a leading provider of next-generation core platforms for P&C insurers, today announced the appointment of Ray Villeneuve as CEO and the completion of a $20 million Series C financing.
The company now offers instant-issue life-insurance policies both direct-to-consumers and through the 1.2 million licensed insurance sellers in the US via its new Agent Platform.
Technology tools, including web portals and exposure mitigation techniques, have become critical parts of modern risk managers’ arsenals, helping to inform and automate a range of functions.
London-based insurtech with high profile backers including one of the world’s largest reinsurer SCOR has become Britain’s next unicorn with its latest funding round. The company is looking to “disrupt” the insurance market worth $5 trillion globally.
Israeli insurtech startup Vesttoo announced on Sunday that it has completed a $6 million funding round led by Hanaco venture capital fund, just four months after raising $2 million.
Kalepa, an insurance underwriting platform based out of New York, has raised a $14 million Series A funding round led by Inspired Capital, with participation from previous investor IA Ventures.
Sunday, an insurtech startup based in Bangkok, announced it has raised a $45 million Series B.
Shepherd, an insurtech startup focused on the construction market, has closed a $6.15 million seed round led by Spark Capital.
The Series A investment will be used to further develop Balance Re’s proprietary asset-liability management technology and to support its fully licensed German reinsurance company.
Blueprint Title, an insurtech startup working in the title insurance space, announced this morning that it closed a $16 million Series B. The new round was led by Forté Ventures. The startup previously raised an $8.5 million Series A in the final weeks of 2019.
Insurify, America’s highest-rated virtual insurance agent and comparison platform, announced today it has closed $100M in Series B funding led by Motive Partners, a specialist private equity firm focused on financial technology investments.
Having a loved one with specialized care needs is incredibly challenging, but not something that people who have never had to deal with the issue would necessarily quite understand.
Australian insurtech Open has raised a $31 million series B as it looks to launch in New Zealand and the UK in the 12 months.
Slope Software, the Atlanta insurtech startup that is modernizing actuarial modeling for insurers, today announced a $2.0 million investment led by Tech Square Ventures, a leading early-stage investment firm.
Hong Kong-based digital insurance platform OneDegree has raised $28 million in a new round of funding as the startup looks to expand in Asia. Sun Hung Kai & Co. and AEF Greater Bay Area Fund took part in the series B1 round along with six existing investors. To date, the company has raised ~ $70 million.
Fresh Off $120M Funding Round, Outdoorsy Makes Pivotal Hire And Debuts Expansion Plan Of Insurtech Business, Roamly
Following the company’s latest investment, Roamly is on the fast track to becoming a revolutionary RV insurance provider, with international expansion to Canada and additions to its claims business.
Goldman Sachs Group Inc.’s asset manager is backing startup DealerPolicy in a funding round that raised $110 million for the company, which provides auto dealers with insurance quotes for their customers.
General insurance provider Digit Insurance had announced in July that it raised $200 million at a valuation of $3.5 billion.
In addition to the funding from from ManchesterStory, The Hive and Avanta Ventures, InShare names chief underwriting officer and CTO.
Sayata has raised $17 million in new venture capital and has a broad growth strategy in mind. The Massachusetts-based Insurtech startup has a platform designed to help brokers and carriers quickly and easily grow their business insurance portfolios, and the cash infusion will help it expand into new insurance lines.
The platform’s AI underwriting support, blockchain-enabled access to real-time data, and advanced automation aim to significantly increase the speed at which specialty insurance can be sold, underwritten and serviced.
DigiSure, the mobility insurance platform with high-tech screening, comes out of stealth with $13.1M raise
DigiSure, a digital insurance company that caters to modern mobility form factors like peer-to-peer marketplaces, is officially coming out of stealth to announce a $13.1 million pre-Series A funding round.
The deal with a top-3 reinsurer, with fronting support from an A-rated carrier, spans across multiple years and multiple states to support Loop’s expansion plans.
High Definition Vehicle Insurance Group, ranked on Insurtech Insights Future50 Americas is planning new products and a national expansion, following $32.5 million in new venture funding.
With 75% of U.S. businesses underinsured, TrustLayer continues its momentum as the preferred solution for reducing risk and cost amid 200k daily insurance verification requests.
E-commerce platform for buying and selling used cars Carvana and insurer Root are teaming up to develop integrated auto insurance solutions for Carvana’s online car buying platform. In connection with the partnership, Carvana will invest ~$126 million in Root, subject to customary regulatory approvals.
The funding will be used advance Breeze’s mission to protect families in their most financially vulnerable moments.
Marshmallow Financial Services is soon to announce its latest fundraising round that will bring its valuation to $1.2bn (£869m), joining the ranks of other recent UK unicorns Starling Bank, Gousto and Zego.
Afilio, a Berlin based Insurtech, has secured USD13 million in highly competitive Series A funding to support the expansion of their ‘Peace of Mind-as-a-Service’ platform offering users digital estate management services.
Just months after raising $28 million, Jerry announced today that it has raised $75 million in a Series C round that values the company at $450 million.
HCI Group, Inc. announced that its InsurTech subsidiary, TypTap Insurance Group, Inc., a Florida-based writer of private market homeowners and flood insurance, has confidentially submitted a draft registration statement for a proposed initial public offering with the Securities and Exchange Commission.
Digital health insurer Ottonova has received fresh capital of around 60 million euros. Existing investors Debeka, HV Holtzbrinck Ventures, Vorwerk Ventures and btov Partners are increasing their commitment, according to an Ottonova press release.
Some people may think insurance is boring, but not Maria Goy. She is passionate about it. As an executive at New York Life, she came to view insurance as a product that differentiates the haves and have nots.
A hippo is on Times Square — Hippo Insurance, that is.
A few weeks after closing a Series A-2 round of nearly $3.8 million from 10 investors, insurance technology company Synchrono Group Inc., which operates under a trademarked brand name of SynchronoSure, is launching its third product, according to founder, CEO, and chairman Steve Hartman.
This week we spoke with Ron Rock, senior director for insurance and insurtech at Jobs Ohio. Following the departure of Tesla and Oracle from the once dominant Silicon Valley, we discuss whether insurtech could be the next big part of the tech world to pursue high-growth regions.
Colorado-based reThought Insurance, a managing general agency focused on the flood insurance market, has secured $15.5 million in investment to accelerate its growth.
Indian online insurance aggregator PolicyBazaar has filed for an initial public offering in which it is seeking to raise $809 million, becoming the fourth startup in the past two months from the South Asian market to explore public markets.
The COVID-19 pandemic has led life insurers to speed up their digital enhancements like mobile insurance shopping and accelerated or automated underwriting. Most insurance carriers are looking for ways to provide more services such as e-signatures, digital applications and online digital quoting.
Guros Receives $5.8M USD in Seed Funding to Accelerate the Digitization of the Insurance Industry in Latin America
The $5.8M USD raised will be used to strengthen their platform capabilities, build Guros’ team, expand into health insurance, and enhance its APIs for commercial partners, such as Kavak, Creditas and albo.
Amplify Life Insurance, a digital permanent life insurance platform, announced today it has raised $2.5M in Seed funding led by Anthemis with participation from Transverse Ventures Fund.
Dutch and US-based FRISS is a cybersecurity company that focuses completely on automated fraud and risk detection for P&C insurance companies across the world.
The company seeks to make injury insurance coverage more affordable, working through a network of affinity group partners.
Flock has raised $17M in Series A funding to supercharge its expansion into new geographies and product lines. This funding round marks a major milestone in building a global, fully digital insurance company for connected and autonomous vehicles.
Employers typically offer three options for healthcare insurance. When it’s time to switch to Medicare, particularly Medicare Advantage, there are over 3,500 plans available nationwide, and an average of 30 plans someone can choose from in their particular area. Connie Health is leading seniors through the Medicare maze, helping whittle down those 3,000 plans into a handful of best choices based on care requirements.
Munich Re Ventures’ HSB fund has reinvested in cyber insurance start-up At-Bay at a valuation of $1.35 billion to support the expansion of the insurtech into new markets.
Agentero serves over 800 independent agencies by converting existing data into actionable insights that enable them to maximize their earned revenue.
Insurtech Gateway Australia says global investment activity in the first half has seen records broken as funders see attractive insurance opportunities, and has called for more local activity.
Just two short months after announcing a $200 million Series D round that took its valuation to $2 billion, Ethos, the insurtech leader that’s transforming the life insurance space, has raised an additional $100 million in capital.
A London insurtech has announced that it has raised £6m of funding in a round led by a Silicon Valley investor.
N26 GmbH is holding discussions with investors to raise several hundred million dollars in a fundraising that could value the German fintech at about $10 billion, according to people familiar with the matter.
American International Group Inc (AIG.N)plans to use an IPO to sell part of its life and retirement business, while Blackstone Group Inc (BX.N)agreed to buy a sizeable stake, according to a person familiar with the matter.
Today, Insurello, which helps consumers get fair compensation, announces it was able to claim €20 million in insurance compensation for its clients and the young company also just raised €15 million in fresh funding.
Hellas Direct today announced agreement of a EUR15 million loan from the European Investment Bank (EIB).
Cryptocurrency insurance platform Coincover raised $9.2 million in a Series A funding round led by Element Ventures.
This week we spoke with Ron Rock, Senior Director at JobsOhio, about insurance disruption and the future of work – and the State of Ohio.
Digit Insurance, backed by Indian skipper Virat Kohli, has attracted $200 million investment from existing and new investors which has helped rocket its valuation to $3.5 billion (approximately Rs 26,000 crore).
INSHUR, a leading global Insurtech firm carving out a name for itself in commercial insurance, today announced completion of additional Series B funding, led by JVP alongside existing investors Viola Fintech, and MTech Capital. The new funding takes the total raised to $35 million.
London-based insurtech hyperexponential (“hx”) – which has a mathematical modeling software for the commercial insurance sector – has closed an $18m funding round led by growth capital fund Highland Europe.
Bequest is creating a digital revolution in the insurance industry with the sole purpose of simplifying wills and life insurance for the millennial market.
Acko is in talks to raise $200 million in a new round of funding that could value the online general insurance startup at $1 billion, according to people aware of the negotiations. A successful deal will propel the startup into a fast-expanding set of newly minted Indian unicorns this year.
EIS, a core and digital platform provider for insurers, today announced a growth investment of more than $100 million from TPG, a global alternative asset firm.
Having secured its $2.1m seed funding round in January this year, Nayms brings in a new cohort of investors who have subscribed to a future listing of the project’s native token, NAYM.
The company seeks to disrupt the $22B market multi-family property market by delivering a simple, efficient, and transparent experience for buildings and communities.
The US-based AI-enabled insurtech raised a $60 million Series D funding round, valuing it at $1 billion, per TechCrunch. Tractable’s AI solution uses computer vision technology to evaluate photos of vehicle damage rather than relying on human appraisals, which both increases the accuracy of damage estimates and streamlines the customer claims journey.
RenewBuy, one of India’s leading InsurTech companies, has raised US$ 45 million, in a series C funding round. This funding round has been led by an investment from Apis Growth Fund II, a private equity fund managed by Apis Partners LLP, a UK-based asset manager that supports growth stage financial services and financial technology businesses. RenewBuy’s existing investors, Lok Capital and IIFL Wealth also participated in the fundraise.
Hellas Direct, an innovative, technology-driven insurance company operating in Greece and Cyprus, announced that it has raised a further EUR 32m in funding in its latest financing round, bringing the total raised to date to EUR 56m.
Vital, a next-generation InsurTech platform, has raised $3mn in total with a pre-series A round led by India’s renowned venture capital company BLinC Invest. Venture Catalyst, Survam Partners and several other angel investors also participated in the pre-series A round.
As the insurance industry adjusts to life in the 21st century (heh), an AI startup that has built computer vision tools to enable remote damage appraisals is announcing a significant round of growth funding.
Automating insurance claims is a big business, and the world of AI is coming at it ‘full pelt’. The latest is Akur8, an insurtech automating insurance platform whose ‘Transparent AI’ product is trying to eat into the incumbent large business of Willis Towers watson, among others.
Honey Insurance launches with $15.5M AUD, the largest seed round ever for an Australian tech startup
When Richard Joffe moved his family to Australia in 2019, he said applying for home insurance “was like traveling back in time 30 years.”
As the insurance industry continues to seek the best way to digitize and simplify the property claims experience, claim management platform handdii is announcing a $3 million Seed round led by Brick & Mortar Ventures, with participation from Nine Four Ventures and Australia-based Scale Investors and Fifty-Second Celebration.
Bright Health Group today announced the launch of its initial public offering of 60,000,000 shares of its common stock pursuant to a registration statement filed with the Securities and Exchange Commission.
This week Stéphane Guinet, founder and CEO at Kamet Ventures discussed the key attributes of startups that can rise above the rest and attract major funding.
SOMPO Holdings, one of Japan’s largest insurers, is investing an additional $45 million in One Concern, Inc., an AI startup focused on building the global resilience market. The money is part of an expanded partnership between the two companies.
This year, insurtech funding rounds are breaking the pandemic gloom by helping to insert these businesses ”successfully into the insurance value chain”, according to data and analytics company GlobalData.
Embroker, a digital broker focused on business insurance, aims to become a full-stack insurance carrier – an expansion of its strategy enabled by $100 million in new venture capital financing.
Insurtech start-up Certificial has completed an oversubscribed $5.8mn Series A funding round with investors including IA Capital, Nationwide, Cofounders Capital, Fin VC and Cameron Ventures.
ELEMENT, the Berlin-based white-label provider of digital insurance solutions, has raised €16 million (US$19.5 million), in additional investment from existing and new investors.
There has been a raft of US insurtechs recently going public, leading to speculation that European insurtechs might follow suit.
Trellis Technologies, Inc., a U.S.-based insurtech platform, announced on Thursday it secured $10 million through its Series A funding round, which was led by QED Investors with participation from NYCA Partners and General Catalyst.
Anorak, a fully automated life insurance advice platform, has raised around €5.8 million on its journey to become the most innovative life insurance technology company in Europe.
Following the launch of Nayya’s Use product, the funding will scale team growth and product innovation, helping American workers optimize their health and insurance benefits to save more money throughout the year
Insurtech and cloud-based platform provider Novidea has secured $30m in series B financing to support its accelerated growth.
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.
Based out of London, Penfold is a digital pension platform managed fully on your mobile phone. Recently, the company has secured £6 million in funding, £3 million of which was from a crowdfunding campaign. The funding round was led by Bridford Investments Limited.
German startup Wefox has raised a $650 million Series C funding round led by Target Global. Following this funding round, the company has reached a post-money valuation of $3 billion. Wefox is a digital insurer focused on personal insurance products, such as household insurance, motor insurance and personal liability insurance.
Corvus Insurance, a leading provider of smart commercial insurance products powered by AI-driven risk data, today announced it has secured extensions to its recent Series C funding, led by venture capital firms FinTLV and Aquiline Technology Growth (ATG).
Insurtech is picking up steam in a big way, but startup Parametrix thinks there is still plenty of room left to innovate. The company, which today announced the close of a $17.5 million funding round, offers insurance policies for companies that rely on third-party cloud providers, e-commerce services, payment gateways and CRM systems.
Evertas, a cryptoasset insurance company, said it has raised nearly $5.8 million in seed funding, which it will use to accelerate product development, increase its insurance capacity and build out its infrastructure.
Insurance agency technology firm Vertafore has released a product it says puts the power of data and analytics into the hands of independent agencies.
Breach, a Boston-based insurtech start-up that provides insurance technology and products for the cryptocurrency market, has raised $2.5 million in seed funding in an oversubscribed funding round.
Mile Auto, a telematics-driven auto insurance MGA, is armed with $10.3 million in new funding. The Atlanta-based InsurTech plans to partner with Ford Motor Company and expand efforts to target customers who don’t drive that much.
Minneapolis-based insurtech Bright Health Group is officially going public after announcing it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission.
B2B Insurtech Platform Boost Raises $20M Series B to Make Insurance Market Accessible for All Companies
Infrastructure-as-a-Service Leader Unlocks a $700 Billion P&C Insurance Market Opportunity for Companies Across Industries.
Super, an insurtech company that provides subscription care for the home, today announced the closing of $50 million in an oversubscribed Series C round of funding.
Jerry, a mobile-first car ownership app and car insurance comparison system, has raised more than $57 million in funding, including a new $28 million Series B round led by Goodwater Capital.
The weekly SPAC/IPO Tracker shows that through the middle of the month, year-to-date banking related listings stood at 25, trailed by a baker’s dozen of payment firms coming to market.
Ping An Insurance recently revealed that it has completed the initial close of Ping An Voyager Partners, LP, which is a growth stage venture fund. Approximately $200 million in commitments have now been made toward the planned $475 million target.
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.
Planck has attracted $20 million in additional venture capital cash. The InsurTech startup – centered around an AI-based data platform for commercial insurance – plans to use the investment to expand into Europe, the U.K. and the Asia/Pacific region, and to build out its U.S. team.
Yuanbao raised nearly 1 billion yuan ($144.9 million) in a Series C funding round that was led by Source Code Capital and included Cathay Capital and Hike Capital, per Deal Street Asia.
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.
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.
Acko General Insurance Ltd. is weighing a new funding round that could value the Indian online insurer at more than $1 billion, according to people familiar with matter.
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has raised $63.9 million in a Series C funding round, according to Crunchbase News.
Ethos, the InsurTech leader that is transforming the life insurance space, today announced it has raised a $200M Series D investment round, boosting its valuation to $2B in just a few years since launch.
Anish Jadav has been appointed Chief Underwriting Officer for AXA XL P&C in the UK, life insurtech Ethos Technologies Inc. has a more than $2bn (£1.4bn) valuation after a $200m funding round, and home insurtech Kin has raised $63.9m in Series C funding.
Series A for Sprout.ai, Amazon and Zurich partner for Middle East payments service, LexisNexis report on future of claims
This morning AI solutions provider Sprout.ai have secured Series A funding from Amadeus Capital Partners, APS and Zurich are partnering on a Middle East-focussed payments solution, and LexisNexis Risk Solutions have released their 2021 Future of Claims Report.
Jérémy Jawish discusses the company’s expanding product set, its focus on R&D and its vision to become an exemplary AI-focused insurance vertical software vendor.
Paris-based Shift Technology is a startup that provides AI-based fraud detection for the insurance industry. In a recent development, the SaaS provider announced that it has raised $220M (approx €182.58M) in its Series D round of funding.
Africa has one of the lowest insurance penetrations in the world. A 2018 study by McKinsey revealed that penetration stands at about 3%. This is significantly lower than the global average of 7.23%.
Sprout.ai, the insurtech that enables insurance claims to be settled within just 24 hours, today announced that it has raised £8m/$11m in Series A funding.
Waterdrop, the online insurance and medical crowdfunding platform backed by Tencent, has started marketing its initial public offering (IPO) of up to US$360 million on the New York Stock Exchange.
This morning we see more funding rounds, major insurers partner to insure global vaccine rollout, and the LMA has announced their new Legal Director.
The new products are designed to support the growing trend of self-directed, shop-from-home, insurance buying experiences possible because of emerging technology and robo-advice tools.
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.
This morning Wunderite, a Boston-based software startup, announced that it has raised $3 million in an early-stage round led by Spark Capital.
New data from re/insurance broker Willis Towers Watson (WTW) shows that global investment in the insurtech sector reached a new quarterly high of $2.55 billion during the first quarter of 2021.
Latinx-founded Insurtech Startup Sigo Raises $1.5M in Seed Funding to Spearhead Affordable Access to Auto Insurance
Sigo, a managing general agency providing underserved populations with affordable access to auto insurance, is leveraging its newly secured funding to further serve the overlooked segment of immigrant and Latinx customers.
Qover, the insurtech hailing from Brussels has raised $25 million in a Series B round that is expected to fuel global expansion efforts.
Brella Insurance Raises $15M Series A to Fund National Expansion of Supplemental Health Insurance Solution
Brella Insurance, Inc. announced it has raised a $15M Series A funding round led by Brewer Lane Ventures to bring Brella’s modern supplemental health solution to employers nationwide.
A French startup that set out to bring a new approach to driver education and road safety, and then used that foothold to expand into the related area of car insurance, is today announcing a big round of funding to continue building its service across Europe.
Innoveo, a leading provider of enterprise no-code solutions, has announced the completion of its $15 million Series A funding round after a highly successful year in 2020.
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.
FintechOS the global technology provider for banks, insurers and other financial services companies, today announced it has raised USD60 million (EUR51 million) in Series B funding.
Hong Kong-based insurance platform Ignatica said it raised US$7 million in a pre-series A funding round led by growth capital private equity fund Ling Feng Capital.
Gradient A.I.’s software-as-a-service platform uses artificial intelligence to help commercial insurers automate and improve underwriting results, reduce claim costs and improve operational efficiencies.
French startup Alan has raised a $220 million funding round at a $1.67 billion valuation (€185 million and €1.4 billion respectively). Coatue is leading the round with Dragoneer, Exor, and existing investors Index Ventures, Ribbit Capital and Temasek also participating.
Level, a startup that aims to give companies a more flexible way to offer benefits to employees, has raised $27 million in a Series A funding round led by Khosla Ventures and Lightspeed Venture Partners.
The company’s Penni Connect embedding solution enables insurers to sell products online through partners such as car dealers, travel providers and banks.
Johanna Von Geyr, partner and EMEA lead banking, financial services and insurance at ISG, explores how to modernise the insurance industry with a shared cloud-based IT model
The Zebra, a home and auto insurance comparison website, has raised $150 million in a Series D fundraising round, which valued the company at over $1 billion.
Insurance technology company Fenris raised $2.7 million in new funding. Fenris, a data and analytics company focused on streamlining and modernizing the process of quoting insurance products, will use this funding to meet the growing demand from clients for its API-delivered insights and data, with a strong focus on expanding its sales and marketing resources.
Bright Health Group Inc., a digital health records platform, is planning an initial public offering in the U.S. this year, according to people with knowledge of the matter.
The new funds for the insight-driven workflow platform for safety and risk management will be used for product innovation, hiring, and accelerated client acquisition and sales, as well as marketing and partnership development.
Salty, a U.S.-based Embedded Insurance technology company, announced on Tuesday it secured over $15 million through its latest investment round, bringing the company’s capital raised to date to more than $31 million.
Next Insurance raised a whopping $250 million in new venture financing – a major cash infusion after a year of acquisitions and other actions to further growth.
“Right now if a fleet has any type of blemish on their record, their rates go up 150 to 200%,” Cardiff says. “That’s untenable. Fleets can’t continue to survive that way, but we as a public still need and demand our goods to be transferred from one place to another…We want to be at the forefront of solving that.”
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.
Asteya’s vision is to reimagine disability insurance, starting with flexible support and plans for individuals like gig economy workers
Gravie, the pioneer of defined contribution healthcare, today announced that they have raised $28 million in a Series D round of financing led by AXA Venture Partners (AVP), with participation from existing investors FirstMark Capital, Split Rock Ventures and Revelation Partners.
Cyber insurance startup Coalition Inc on Wednesday said it raised $175 million in its latest round of funding, which valued the company at $1.75 billion as the need for protection against hacks, ransomware and data theft has surged with remote work during the pandemic.
DeepSee.ai, a knowledge processing InsurTech, said it has raised $22.6 million in new financing, money that will help expand its initial client base beyond capital markets and insurance verticals.
The investment was led by Prelude, the early-stage practice of Mercato Partners, with participation from Heffernan Insurance Brokers and other experienced industry veterans.
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.
Some serious money has been sent the way of various insurance startups over the past week. Investors backed cutting-edge commercial lines and cyber insurance products as well as advances in texting communications, producer management and licensing compliance, and digital risk management for financial institutions.
Germany-based digital insurer Getsafe GmbH is aiming to raise an additional €50 million to €75 million in funding as part of its journey toward underwriting risks on its own balance sheet, according to CFO Daniel Treiber.
Gross Written Premium run-rate growth of 1595% over past 6 months driven by an appointed network of 4500 agents and brokers using Cowbell Platform
According to various industry reports, the Indian insurance sector is valued at a massive $280 billion, but its contribution to the country’s GDP remains abysmally low at 4%. The sector is still waiting for a disruption, even as a host of startups are leveraging technology to resolve issues like claim rejections, frauds and miss-selling.
Zego, the insurtech that got its start by offering flexible motorbike insurance for gig economy workers but has since expanded with a range of tech-enabled commercial motor insurance products, has raised $150 million.
Turtlemint is the latest Indian insurance tech startup space to bag funding from foreign investors after insurance FDI rules were relaxed last month
AgentSync Raises $25M to Accelerate Growth of Comprehensive Producer Management Platform for Insurance Industry
Valuation grows by 10x as carriers, agencies, and MGAs turn to AgentSync for broker onboarding, licensing, and compliance
Insurance agents spend hours handling paperwork and grabbing client information over the phone. A new seed-stage startup, InsurGrid, has developed a software solution to help ease the process, and make it easier for agents to serve existing clients — and secure new ones.
Hepster, an insurtech platform from Germany, has raised $10 million in a Series A funding led by Element Ventures. Also participating was Seventure Partners, MBMV, and GPS Ventures, as well as previous investors.
A technology-enabled insurance firm in Alpharetta raised $3.5 million, according to a March 3 U.S. Securities and Exchange Commission filing.
Hippo Enterprises Inc., a home-insurance startup, agreed to go public through a merger with Reinvent Technology Partners Z, a special purpose acquisition company that counts Zynga Inc. founder Mark Pincus and LinkedIn co-founder Reid Hoffman as its lead directors.
Symbo’s technology platform is used by individual agents, third-party administrators, brokers and corporates across India and Southeast Asia to distribute, purchase and administer a wide range of insurance products spanning life and general insurance.
Oscar Health Inc., a health insurance startup backed by Google parent Alphabet Inc., sold shares in its initial public offering (IPO) on Tuesday at $39 apiece, above its target range, to raise $1.2 billion.
A company best known for insuring people’s teeth is getting an investment from a company better known for insuring homes and cars.
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.
Farmers Edge Inc. raised about C$125 million ($100 million) in its Canadian initial public offering after selling shares at the top end of its marketed range, according to people familiar with the transaction.
Reinsurer Munich Re has agreed to back the launch of a new insurtech firm created by specialist private capital provider Sun Capital Partners and former Aviva CEO Mark Wilson.
Healthcare’s Latest Unicorn: Big Data Startup Innovaccer Raises $105 Million At $1.3 Billion Valuation
On the heels of a year that saw a record amount of venture cash flow into healthcare startups, investor appetite for healthtech does not appear to be waning.
Devoted Health, a startup that sells health insurance to seniors, quietly raised $380 million last year, three people familiar with the matter told Insider. The round, led by Uprising, closed in July 2020, two people close to the company said. The sources were not authorized to speak on the record.
Zelros Raises $11 Million in Series A Funding to Bring AI-Powered Responsible Insurance Distribution to North America
French insurtech startup paves a path to automation and innovation for insurers.
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.
Access to capital and insurance are some of the factors affecting not only peasant farmers but commercial farmers in Africa. A large majority of farmers in Africa still use hoe and cutlass and farm largely to feed their households and sell the surplus for cash.
Funds raised will help startup access new markets, finetune software that helps banks and insurers offer clients personalized pricing and products
A blank-check firm, backed by AmTrust Financial Services Inc. CEO Barry Zyskind, is looking to raise $300 million through an initial public offering, a regulatory filing showed on Friday.
Just five months after raising $250 million at a $2 billion valuation, Israeli insurtech company Next Insurance is working on another funding round, this time at a valuation of $4 billion, a person familiar with the move told Calcalist under the condition of anonymity
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.
Leading online InsurTech company Waterdrop Inc. is reported to be in full preparation for a U.S. initial public offering (IPO) in the next quarter. According to Jiemian News, this development follows a recent valuation of the company at a total worth of tens of billions of dollars, citing people familiar with the matter.
Sweden’s Insurely Raises €2.5M to make the Insurance Industry more Transparent, Accessible; Here’s How
Stockholm-based Insurely, a digital insurance platform, has raised €2.5M in a fresh round of funding. The round was led by Swedish venture capital firm Luminar Ventures.
Berkshire disclosed a new $499 million stake in the professional services company Marsh & McLennan Cos.
Thailand-based insurtech platform AppMan announced it has raised US$4.6 million in its series A funding round from Siam Alpha Equity’s SME Growing Together 1 fund, Krungsri Finnovate, Casmatt, KTBST, and Poems Ventures, the venture arm of PhillipCapital Group.
Leading workers’ comp billing platform allows insurance providers to build a best-in-class solution for their policyholders
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.
Livelii, Canada’s first community-based platform that intersects Insurtech and Fintech to provide affordable Health Insurance and critical Financial tools to Independent workers is listing a securities offering via the online crowdfunding platform, FrontFundr.
The Israeli founded insurtech company is in negotiations with SPAC Reinvent Technology Partners, that includes Zynga Inc. founder Mark Pincus and LinkedIn co-founder Reid Hoffman as its lead directors.
Talem Health Analytics has revealed that it has closed a $2.3 million seed round, which the insurtech hopes to use to accelerate the launch of its AI platform to the auto insurance industry.
Oscar Health filed preliminary paperwork for an IPO on Friday. The health insurance startup is betting that its technology can give it an edge as it fights for market share with bigger competitors.
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.
Additional funding will be deployed into select startups whose solutions, technology, and capabilities can benefit Nationwide customers.
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.
The pay-per-mile pioneer completed its business combination with INSU Acquisition Corp. II, a publicly traded special purpose acquisition company sponsored by Cohen & Company, LLC.
Marble, the first digital wallet and loyalty platform for insurance, today announced $2.5 million in seed round funding.
Farmers Edge Inc., a firm that uses artificial intelligence to help growers boost crop yields, is seeking to raise about C$100 million ($79 million) in an initial public offering to strengthen its finances and repay debt.
Gentem Health Inc., a Silicon Valley-startup focused on helping private practices thrive financially, has raised a $10 million Series A financing round, bringing total investment to $13.7 million.
Ushur, the no-code intelligent automation company, today announced a $5M addition to its over-subscribed $25M Series B funding in November 2020. Aflac Ventures and Iron Pillar participated in the round. This brings the total amount of the Series B to $30M, and Ushur’s cumulative funding to $41.5M.
Phable, a three-year-old health tech startup that is serving patients with chronic illnesses in India, has raised $12 million in a new financing round as it looks to scale in the world’s second most populated nation.
Hippo, an insurance technology startup, is in talks to go public through a merger with a special purpose acquisition company, according to people with knowledge of the matter.
Oscar Health, a health insurance start-up backed by Google parent Alphabet Inc, filed for an initial public offering on Friday, looking to cash in on the surge in demand for digital health services during the COVID-19 pandemic.
Eusoh is a radical new model that offers customers the same protection as best in class insurance products, but at a game changing price discount that is sustainable. This will have a significant impact on many lines of insurance.
PasarPolis Raises US$5M from World Bank’s International Finance Corporation to Democratise Insurance
The investment in PasarPolis is the first IFC has made in the insurtech sector in Indonesia, where insurance penetration rate remains low
CCC Information Services said on Wednesday it was going public through a merger with blank-check firm Dragoneer Growth Opportunities Corp, in a deal that valued the data and technology provider to auto and insurance firms at about $7 billion.
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.
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.
Global insurtech funding reached $7.12 billion across 377 deals, the most in any year to date, per Willis Towers Watson (WTS).
Metromile has attracted $50 million in new investment from a former Uber executive even as it has obtained regulatory approval to formalize a reverse merger deal that will make it a publicly-traded company.
FinTLV, a Tel Aviv-based fund that specializes in FinTech and InsurTech companies in their “growth stage” phases, announced in a press release that it has closed a new $120 million fund, FinTLV II.
Global insurtech investment reached a record $7.1 billion in 2020 despite substantial challenges to the re/insurance sector, according to a new report by Willis Towers Watson.
Berlin-based insurtech startup INZMO has closed a €3.1 million seed round led by Change Ventures. Swiss insurance company Helvetia, an existing backer from the pre-seed round in 2018, also participated.
Company aims to eliminate $1 trillion in healthcare waste annually by bringing transparency and consumer behavior to opaque US healthcare market
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.
Pula, a Kenyan insurtech startup that specialises in digital and agricultural insurance to derisk millions of smallholder farmers across Africa, has closed a Series A investment of $6 million.
HSBC Holdings Plc and Malayan Banking Bhd.’s insurance venture are among shortlisted bidders for AXA SA’s business in Singapore, which could raise about $700 million in a sale, according to people familiar with the matter.
Aviva announced it is expanding its investments in fintech and insurtech through a collaboration with venture capital firm Anthemis. The aim is to “transform its customer experience through innovation.”
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