Funding News
We regularly curate the latest insights and reports provided by and in collaboration with our partners and stakeholders to create the largest platform for knowledge-sharing and development within the world’s insurance industry.
Whatfix Secures $125 Million in Series E Funding
Digital adoption solutions provider Whatfix has raised $125 million in its Series E funding round, pushing its total funding to $264.8 million.
Israeli Healthtech Nym Raises US$47 Million Medical Coding
Nym, a leading Israeli healthtech startup, has secured $47 million in a growth investment round led by PSG.
Rey Raises US$3.5 Million for AI-Powered Health Insurance Expansion
Jakarta-based Health insurtech startup Rey has secured an additional $3.5 million in funding to expand its AI-powered health insurance platform.
10 Top Insurtech Funding Rounds Taking Insurance to the next level
Insurtech is revolutionising the insurance industry, bringing innovative solutions to traditional practices. As the sector continues to evolve rapidly, funding plays a crucial role in driving growth and innovation.
Centivo Raises US$75 Million to Transform Employee Healthcare
Centivo, a leading healthcare company dedicated to making high-quality healthcare more affordable, has announced the successful completion of a $75 million financing round.
arqu Raises US$10 Million in Series A Round
arqu, a tech-enabled wholesale insurance brokerage based in San Francisco, has raised US$10 million in a Series A round led by Crosslink Capital with participation from Intact Ventures.
Madrid-based Insurtech Tuio Raises $16.7 Million
Madrid-based insurance startup, Tuio, has successfully raised $16.7 million in a combination of equity and debt.
Koltin Secures US$7.3 Million Series A Funding
Koltin, a Mexican insurtech focused on providing private health insurance for seniors, has raised $7.3 million in a Series A funding round led by Left Lane Capital.
Functional Finance Raises US$20 million
Functional Finance, a software platform “revolutionising financial operations” for managing general agents, insurance companies, and wholesalers, announced the closing of a $20 million Series A funding round led by Walkabout Ventures, with participation from Munich Re Ventures and Phil Edmundson, the founder of Corvus Insurance.
CarePay Raises €10M in Funding to Drive International Expansion
CarePay International, a leading innovator in next-generation health insurance platforms based in Amsterdam, has raised €10 million in fresh funding from Reinsurance Group of America (RGA) and the Health Insurance Fund (HIF), a fund supported by the Ministry of Foreign Affairs of the Netherlands.
Roots Automation Raises $22.2 Million to Harness Unstructured Data in Insurance with AI
Roots Automation, an AI-driven solutions provider for the insurance industry, has secured $22.2 million in a Series B funding round led by Harbert Growth Partners, with participation from MissionOG, Liberty Mutual Strategic Ventures, and Vestigo Ventures.
Nayya Secures Investment from Workday Ventures to Boost Employee Benefits Platform
Nayya, a leading platform that simplifies employee benefits selection and management, has announced a new investment from Workday Ventures.
Cyber Insurance Firm FifthWall Solutions Secures $5 Million in Series A Funding
FifthWall Solutions, a Pennsylvania-based cyber insurance wholesaler, has successfully raised $5 million in Series A funding to fuel its growth.
Onsurity Raises $21 Million in Series B Funding Led by Creaegis, Closing Round at $45 Million
SME-focused insurtech startup Onsurity has raised an additional $21 million, led by private equity firm Creaegis, to complete its Series B funding round at $45 million.
Akur8 Secures $120 Million in Series C Funding to Boost Growth and Innovation
Akur8, the AI-powered insurance pricing and reserving platform, has raised $120 million in its latest Series C funding round, bringing its total funding to $180 million.
Nirvana Secures $US24.2 Million in Series A Funding to Transform Health Insurance Verification
Nirvana, a pioneering health tech company specialising in insurance verification and eligibility with machine learning and artificial intelligence, has announced a successful $24.2 million Series A funding round.
NEAT Protect Secures €50 Million in Series A Funding to Revolutionise Insurance Industry
NEAT Protect, a leading provider of embedded insurance solutions based in Paris, has raised €50 million in a Series A funding round, led by Hedosophia, with support from Mundi Ventures, ETFS Capital, Athletico Ventures, and existing investors.
Ledgebrook Raises $17 Million Series B Round
US-based insurtech managing general agent (MGA) Ledgebrook has raised $17 million in a Series B funding round.
Optalitix Raises Additional US$3 Million Led by Calculus Capital to Boost Ambitious Growth Strategy
Optalitix, the specialist insurance and finance software provider, today announced a follow-on fundraising round of US$3 million led by existing investor Calculus Capital, with participation from 24 Haymarket and others.
Sigo Seguros Closes Successful $10.5 Million Series A
Sigo Seguros, a car insurance startup dedicated to serving underserved communities, has raised $10.5 million in a Series A funding round.
MSI Announces Investment in Asian MGA, Serenity Health
Mitsui Sumitomo Insurance (MSI), part of the MS&AD Insurance Group, has announced a strategic investment in Serenity Health Partners Pte. Ltd., a Singapore-based company focused on health insurance.
Thatch Raises US$38 Million in Series A to Transform Health Benefits
San Francisco-based health benefits startup Thatch has secured $38 million in a Series A funding round, led by Index Ventures and General Catalyst.
Demex Group Closes Succesful $10.25million Series A
The Demex Group, a risk analytics and intelligence firm specialising in stop-loss reinsurance protection, has raised $10.25 million through a Series A and previous SAFE funding round, led by Congruent Ventures. Moxxie Ventures, MetaProp, and existing investor Blue Bear Capital also participated.
Korint Insurtech Secures €5 Million to Drive Digital Transformation in Insurance
Korint Insurtech, a rising player in the digital insurance space, has raised €5 million in a funding round led by venture capital firm Ventech, with continued support from 360 Capital.
InsurancePadosi Raises $500k Pre-Seed Round
InsurancePadosi, an Indian insurtech startup, has announced that it has successfully raised $500,000 in a pre-seed funding round led by the global early-stage VC Antler.
redalpine Closes $200 Million Fund
redalpine, the European Venture Capital firm, has today announced the successful closure of its largest-ever fund, “redalpine Capital VII (RAC VII),” at $200 million.
Ascot Launches Capital Platform to Support Expansion
Ascot Group, the Bermuda-based global specialty insurer, has announced the launch of a unified capital management platform, Leadline Capital Partners, to support their expanded third-party capital business.
Accession Risk Secures $1 Billion to Support Expansion
Accession Risk Management Group, the parent company of One80 Intermediaries and Risk Strategies has announced it has successfully raised $1 billion in financing to support its growth and continued expansion.
Archera Closes Successful $17 Million Series B
Archera has announced it has successfully completed a $17 million Series B Funding Round, paving the way for expansion into multi-cloud offerings, and securing access to over $100 million in reinsurance capacity.
QuickFacts Raises $2 Million to Accelerate Software Expansion Across North America
QuickFacts, an insurtech startup dedicated to enhancing efficiency in the insurance industry, has announced the successful closure of an oversubscribed $2 million funding round.
Companion Protect Raises US$20.25 Million in Series A Extension Funding
Companion Protect, a Kansas City-based company specialising in pet insurance and wellness administration, has successfully raised $20.25 million in a Series A extension round.
Gradient AI Raises US$56 Million in Series C Funding to Drive Innovation in Insurance Sector
Gradient AI, a leading provider of artificial intelligence (AI) solutions for the insurance industry, has raised $56.1 million in its latest Series C funding round.
Levitate Raises $15 Million Series D
Levitate, an insurer-backed innovative Happiness Platform, has successfully raised $15 million in a Series D round.
Houlihan Lokey Announces Acquisition of Waller Helms
Houlihan Lokey, the global investment bank, has agreed to acquire Waller Helms, an independent advisory firm providing investment banking services to clients in the insurance and wealth management sectors.
Scamnetic Raises Funds for AI Scam Detection Solutions
Scamnetic, a startup leveraging advanced AI to protect users against a wide range of digital scams, has successfully closed a $1.35 million pre-seed funding round.
Chaiz Raises $2.7 Million Seed Round
Chaiz, a Texas-based marketplace for extended car warranties, has successfully raised $3.7 million in a seed funding round as it seeks to expand its coverage options.
Walnut Insurance Raises CAN$4.6 Million to Transform Insurance Distribution with Embedded Technology
Walnut has announced the successful close of its latest funding round, securing CAN$4.6 million. The investment will be used to expand Walnut’s groundbreaking embedded insurance technology platform for insurers, brokers and enterprise businesses looking to participate in the future of insurance distribution.
Hub Completes Acquisition of IMC
Hub International Limited, a global brokerage and financial services firm, has completed the acquisition of Pennsylvania-based Insurance Management Company (IMC). The terms of the deal were not disclosed.
Guidehealth Raises US$14 Million in Seed Funding with Support from Memorial Hermann Health System
Guidehealth announced on Tuesday that it has secured $14 million in seed funding, with major contributions from the non-profit Memorial Hermann Health System in southeast Texas, entrepreneur Sidd Pagadipati, and other healthcare investors and industry leaders.
Inscora Raises $2 Million
Inscora, a Canadian startup providing automated cyber risk assessments and sales enablement solutions to cyber insurance brokers, has successfully raised $2 million in a funding round.
Safe Guard Receieves New Investment
Safe-Guard Products has announced a new investment from Hellman & Friedman, a private equity firm. Founded in 1992 and based in Georgia, Safe-Guard Products is a provider of third-party private label finance and insurance protection products for the automotive, RV, marine, and powersports industries.
Juno Expands Reach with US$8.5 Million Series A Funding
Juno – the first company in the US to provide child disability insurance closes US$8.5 million Series A funding to expand reach of new core employee benefit
Insurtech Funding in Latin America Hits Historic Low at US$26 Million in H1 2024
Insurtech funding in Latin America plummeted to a historic low of $26 million in the first half of 2024, representing a sharp 78% decline compared to the same period in 2023. Over the 12 months from July 2023 to June 2024, the total funding reached $43 million, marking the lowest figure on record.
AECID Invests €25 Million to Boost LATAM Insurtech
The Agencia Española de Cooperación Internacional para el Desarrollo (AECID) has announced an investment of €25 million in management agency Mundi Ventures, agreeing that the funding will be allocated to insurtech startups and parallel sectors aiming to improve and digitise the insurance sector.
Enzo Raises $2.5 Million to Prevent Water Damage
Enzo the German-based startup dedicated to solving the global problem of tap water pipe damage in buildings, has announced the successful completion of a $2.5 million seed funding round.
Solera Registers for IPO
Solera, a global provider of SaaS solutions, has announced it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of shares of its common stock.
Nature Risk Intelligence Provider Natcap Raises $10 Million
Natural Capital Research (Natcap), a startup specialising in nature and biodiversity intelligence, has announced it has successfully raised $10 million in a Series A funding round.
Wopta Assicurazioni Secures €4.1 Million in Series A Funding Round
Wopta Assicurazioni, an insurtech MGA established to support businesses and professionals against everyday risks, has successfully closed a €4.1 million Series A funding round. The raise brings the total raised since its inception to approximately €8 million.
Supercede Raises US$15 Million in Series A Funding to Revolutionise Reinsurance
Supercede, a digital reinsurance platform, has successfully raised US$15 million in a Series A funding round. The funding was led by Alven, with participation from Mundi Ventures, Outward, Seedcamp, MMC Ventures, and AFG Partners.
Feather Raises €6 Million to Develop Pan-European Insurance for Expats
Feather, a startup focused on providing digital insurance solutions for expats in Europe, has secured €6 million in a funding round led by Keen Venture Partners. Additional investors include Plural and industry leaders from Allianz, AXA, and Bastian.
Sidecar Health Secures US$165 Million in Series D Financing
Sidecar Health, an innovative health insurance company, has raised $165 million in a Series D financing round. This investment marks the largest private investment in employer health benefits for the year.
Lloyd’s Boosts Investment Options with Launch of Canadian Core Fixed Income Fund
Lloyd’s has announced a new Canadian Core Fixed Income Solution on the Lloyd’s Investment Platform.
Norm Ai Secures US$27 Million to Advance Regulatory Compliance Platform
Norm Ai, a cutting-edge regulatory compliance platform, has successfully raised $27 million in a Series A funding round. The round was led by Coatue, with significant participation from Bain Capital Ventures, Blackstone Innovations Investments, New York Life Ventures, Citi Ventures, TIAA Ventures, and Jefferson River Capital.
Climate X Secures US$18 Million in Series A Funding
Climate risk intelligence company Climate X has raised $18 million in a Series A investment round led by Google Ventures. The funding round also saw participation from Pale blue dot, CommerzVentures, A/O, Blue Wire Capital, PT1, Unconventional Ventures, and Western Technology Investment.
IBISA Raises $3 Million to Scale Parametric Solutions in Asia and Africa
IBISA, the global climate insurtech, has successfully raised $3 million to scale its parametric insurance solutions for weather-related risks in Asia and Africa.
PCF Insurance Completes Four Strategic Acquisitions
PCF Insurance Services, one of the top twenty US insurance brokers operating across 40 states, has announced the acquisition of four key agencies: Ignitist in Pennsylvania, The Brady Agency in North Carolina, Roseberry Insurance Agency in Mississippi, and The Sinnott Agency in Iowa.
Verituity Raises $18.8 million To Transform Verified Payments
Verituity, a leading innovator in verified, intelligent payments, has successfully closed out an $18.8 million funding round.
Humata Raises $25 Million To Advance Prior Authorisation
Humata Health, a healthcare company specialising in frictionless prior authorisation payments for payers and providers through AI and automation, has successfully raised $25 million.
Kinetic Raises $21 Million Series B
Kinetic Automation, an infrastructure company delivering digital maintenance and servicing for EVs and AVs, has successfully closed a $21 million Series B funding round.
ARC Receives $27 Million from Dutch Government
African Risk Capacity (ARC) has announced it has received a $27 million contribution from the Dutch Government to help boost climate resilience in Africa and further promote parametric insurance across the continent.
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