SMB-focused Pie Insurance raises $315M Series D
SMB-focused Pie Insurance raises $315M Series D
Pie Insurance in Denver, Colorado, raised a $315 million Series D round of funding.

The round was led by Centerbridge Partners and Allianz X, the digital investments arm of Allianz Group. White Mountains Insurance Group also joined as a new investor, and previous investors Gallatin Point Capital, Greycroft, Acrew Capital and others also participated in the round.

The fundraise more than doubled Pie’s total capital raised to over $615 million.

“This round of financing is monumental in more ways than one,” John Swigart, co-founder and CEO of Pie, said in a statement. “It’s no secret that growth-stage startups, and specifically insurtechs, are facing a challenging fundraising environment. However, Pie’s ability to grow rapidly while still focusing on delivering strong unit economics and sustainable loss ratios, is proving to be a key differentiator.”

Pie is a tech-enabled provider of workers’ compensation insurance to small businesses.

Source: Insurance Journal

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