Funding News

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.

Odie Pet Insurance, a New York-based tech-enabled pet health insurance company, raised $3M in funding.

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.

A company which uses data and machine learning to detect fraud and increase access to insurance has received £8m of investment from venture capitalists and private investors.

In a recent development, the insurtech startup, Qumata, announced that it has raised $10M (nearly €8.2M) in its Series A round of funding.

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.

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.

Waffle, a New York based insurtech start-up, has raised $5 million in a seed funding round led by Verve Ventures, with participation from BetterLabs Ventures and Techstars.

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.

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.

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.

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.

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, 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.

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.