From a cluster of insurance marketplace startups raising capital earlier this year, to neoinsurance provider Lemonade going public this summer at a strong valuation, Hippo’s huge new round and Root’s impending unicorn IPO, 2020 has proven to be a busy year for startups and other growth-oriented private tech companies focused on insurance.
That news cycle continues today, with The Zebra announcing that it has reached a roughly $100 million run rate, and, perhaps even more notably, that it has turned profitable.
TechCrunch most recently covered the car and home insurance marketplace startup in February, when it raised the first $38.5 million in a Series C eventually worth $43.5 million that Accel led. As we noted at the time, the startup joined “Insurify ($23 million), Gabi ($27 million) and Policygenius ($100 million) in raising new capital this year.”
A changing market

Insurance Office of America Secures Strategic Investment from Madison Dearborn Partners and Navacord
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.

Abacus Global Management Acquires AccuQuote to Expand Financial Services Platform
Abacus Global Management, Inc. has announced the acquisition of AccuQuote, a leading online life insurance brokerage company. The move strengthens Abacus’s financial services platform and broadens access to insurance solutions across the United States.

SiriusPoint to Sell 49% Stake in Arcadian Risk Capital for $139 Million
Global specialty insurer and reinsurer SiriusPoint has announced an agreement to sell its 49 percent equity stake in managing general agent Arcadian Risk Capital to Lee Equity Partners for a total consideration of 139 million dollars, including a pre-close dividend.