Category: Funding

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.

PolicyBazaar India has raised $75 million (AED275 million) for its UAE and Middle East expansion plans

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, 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.

Specialist insurer ERS DGB Limited has secured $350 million in a new capital raise led by private equity firms Abry Partners and Aquiline Capital Partners.