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.
French Insurtech Flitter Raises €3,5 million to expand UBI Auto insurance
Paris-based insurtech Flitter has successfully secured €3.5 million in a recent funding round aimed at expanding its usage-based car insurance offerings.
Global Insurtech Funding Surges to Record US$1.1 Billion in Q3 Amid P&C Boom
The insurtech landscape experienced a significant milestone in the third quarter of 2023, surpassing the US$1.1 billion mark in new funding.
Deutsche Bank and UniCredit invest US$55 Million in wefox to Boost Insurtech’s $4.5 Billion Valuation
wefox has secured a substantial boost with $55 million in fresh funding from Deutsche Bank and UniCredit, according to reliable sources familiar with the deal as reported by CNBC.
Cowbell Secures US$25 Million in Funding as Profitable Growth Trends Positively
Cowbell, the cyber insurance provider, has secured US$25 million in fresh funding in a round led by Prosperity7 Ventures, alongside contributions from both new and existing investors.
Next Insurance Secures US$265 Million in Funding and Forms Strategic Alliances
Next Insurance has raised US$265 million in a strategic investment round, marking a significant milestone for the insurtech company.
Layr Raises US$10 Million Investment to Boost Services for Independent Commercial Brokers
Atlanta-based Insurtech firm Layr has successfully secured US$10 million in funding round led by Cota Capital.
Generali Allocates €250 Million to Fuel Venture Fund for Insurtech and Fintech Innovation
Generali has committed €250 million to its venture fund, Generali Ventures in a move to boost innovation in the insurtech and fintech sectors.
Sprout.ai Secures US$6.5 Million Funding to Transform Claims Processing
Sprout.ai, a leading insurtech specialising in claims automation, has successfully raised US$6.5 million in a funding round, with notable participation from venture capital investors Amadeus Capital Partners and Praetura Ventures.
Insurtech Previsico Launches Flood Forecasting in New York Following Record Flooding
Previsico has officially gone live in New York with its advanced flood forecasting technology, aiming to mitigate future losses following the recent record flooding that impacted major infrastructure, including LaGuardia Airport and John F. Kennedy Airport.
Claims Resolution Insurtech Nuvalaw Raises US$3 Million in Pre-Series A Round
LegalTech Nuvalaw, the claims resolution platform that facilitates the online negotiation and arbitration of P&C insurance claims, has raised US$3million in pre-series A financing.
Boundless Rider Raises US$4.24 Million in Round led by American Family Ventures
Massachusetts-based startup Boundless Rider has successfully raised US$4.25 million in a recent funding round, led by American Family Ventures.
Funding Round-Up: Top Insurtech Investment Events in October 2023
October has seen a raft of incredible funding events across all sectors. From pre-seed to B rounds, millions of dollars of capital are being invested in this dynamic and scaling space.
Insurtech Assureful Raises US$1.5 Million in Pre-Seed Round
UK-based insurance startup Assureful has successfully secured $1.5 million in a pre-seed funding round, with Markd leading the investment and Greenlight Re Innovations participating.
Upfort Secures US$8 Million in Series A Funding for Cybersecurity and Insurance Solutions
Upfort, a San Francisco-based cybersecurity and insurance provider, has successfully raised $8 million in a Series A funding round.
Kota Secures US$5.2 Million in Seed Funding to Transform Employee Benefits Automation
Kota, previously known as Yonder, has successfully concluded a US$5.2 million (€5M) Seed funding round, marking a significant milestone in its mission to streamline and automate insurance and retirement benefits for modern teams.
Insurtech QuoteWell Raises US$15 Million in Series A Round to Fund Expansion
Insurtech startup QuoteWell has raised US$15 million in its Series A round – an investment that will be used to expand and scale the startup.
Canopy Connect Raises US$6.5 Million in Series A Led by Nevcaut Ventures
Canopy Connect, the leading platform for collecting, verifying, and monitoring insurance information has announced the closing of a US$6.5 million Series A funding round.
Insurtech Laka Secures US$8 Million Funding, Acquires Rival Cylantro to Fuel European Expansion
UK Insurtech start-up Laka has successfully raised US$8 million in a recent funding round, led by the French mobility fund Shift4Good.
Protos Labs Secures US$2.1 Million in Successful Seed Funding Round
Singapore-based cyber risk management firm, Protos Labs, has triumphantly concluded its seed funding round, raising US $2.1 million (SGD $3 million).
Previsico Secures Additional Funding to Drive European Growth and Facilitate US Expansion
ClimateTech firm Previsico, renowned for its live flood alert solutions, has successfully concluded its latest funding round, marking a substantial increase in valuation compared to the previous round in August 2021.
UK Insurtech Bikmo Secures US$4.1 Million in Funding for European Expansion
Bikmo, the insurtech company that provides coverage to Deliveroo’s fleet of bikes and e-bikes, has successfully secured US$4.1 million (£3.4 million) in funding.
Insurtech Veruna Secures US$10 Million in Series B Funding
Veruna has announced the successful closure of its Series B fundraising round, raising a substantial $10 million.
Insurtech iink Payments Raises US$12 Million in Series A Round
iink Payments, a digital payments network specialising in expediting fund disbursements related to multi-party property insurance claims, has successfully raised $12 million in a Series A financing round.
Prove Secures US$40 Million in Funding for Expansion of Digital Identity Solutions
Prove, a leading provider of digital identity solutions, has successfully concluded a funding round, raising $40 million. The funding round was led by MassMutual Ventures and Capital One Ventures.
Pantomath Secures US$14 Million in Series A Funding Led by Sierra Ventures
Pantomath, a leading “data pipeline observability and traceability platform,” has raised US$14 million in its Series A funding round.
Howden Secures £500 Million Deal to Transform Start-ups into Underwriters
Howden, the prominent UK insurance broker, has successfully secured £500 million in insurance capacity from a consortium of Lloyd’s of London firms.
11 Insurtech Funding Rounds Boosting Growth in the Marketplace
Raising capital in these challenging times is an impressive achievement. Insurtech Insights rounds up the latest investment events in Insurtech
Insurtech Vellum Raises US$7 Million to Transform Insurance Analytics
Vellum Insurance, a cutting-edge provider of data and analytics solutions for the insurance and reinsurance sector, has emerged from stealth mode with a successful US$7 million seed funding round.
Alberta-Based Insurtech Startup, Scription, Secures US$2.5 Million in Funding Round
Scription, an emerging Insurtech company based in Alberta, has successfully concluded its recent funding round, securing an impressive US$2.5 million in capital.
Matic Insurance Secures US$20 Million in Series B Extension
Matic Insurance has successfully raised an additional US$20 million in an extension of its Series B funding round.
Egyptian Insurtech Startup Amenli Raises US$1 Million in Equity Funding to Boost Team Expansion
Egyptian startup Amenli has raised US$1 million in equity funding, to scale its North African operations.
InsuranceDekho Secures $60 Million in Series B Funding, Valued at US$600 Million
Indian insurtech InsuranceDekho has announced the successful completion of its Series B funding round, raising an impressive US$60 million.
Indian Insurtech Onsurity Raises US$24 Million in Series B Round Led by World Bank’s IFC
Onsurity, a startup specialising in employee healthcare benefits, has successfully secured $24 million in its latest Series B funding round.
AI-Driven Insurtech Reserv Raises $20 Million is Series A Led By Altai Ventures and Bain Capital Ventures
Reserv, a frontrunner in AI-powered insurance claims processing, has successfully concluded its Series A funding round, securing $20 million to enhance its generative AI tools for claims data analysis.
Coalition and MS&AD Insurance Group Partner to Provide Cybersecurity Insurance Solutions in Japan
Cyber insurtech leader Coalition has announced a strategic partnership with MS&AD Insurance Group, the largest non-life insurer in Japan and across the ASEAN region, to provide cybersecurity monitoring solutions to small and medium-sized businesses (SMBs).
Allium Data, Inc. Secures US$750,000 in Pre-Seed Funding for Disruptive Insurtech Innovations
Insurtech startup Allium Data, Inc., has announced the conclusion of its pre-seed funding round, amassing a US$750,000 in financial backing.
BeSafe Group Secures €3 Million in Series A Funding for Global Expansion
BeSafe Group, a leading travel-insurtech company headquartered in Rome, has successfully closed a €3 million round in Series A funding.
Root to Expand in the UK and Europe Following US$1.5 Million Investment Boost from Invenfin
Root, the comprehensive digital insurance platform, has revealed its expansion plans for the UK and Europe following its latest funding success.
Atlanta-Based Insurtech Safely Raised US$8 Million
Atlanta-based company Safely has successfully secured $8 million in funding, with Highgate Technology Ventures leading the investment and participation from LAGO Innovation Fund.
Previsico Raises US$2.4 Million in Funding to Boost Growth in the US and Europe
Previsico has announced the completion of its latest funding round, at a significantly higher valuation than the prior one in August 2021.
Munich Re Ventures Backs US$50 Million Series A for German Autonomous Truck Startup, Fernride
Fernride, a cutting-edge German startup based in Munich, has successfully raised an impressive $50 million in funding for its innovative self-driving trucks initiative.
Markel and Cytora Partnership Spurs Remarkable 113% Productivity Surge for Underwriting Team
Markel, a prominent specialty insurer, and cutting-edge insurtech firm Cytora have unveiled the extraordinary outcomes of their collaborative effort, which have led to an astounding 113% increase in productivity (Gross Written Premium per Full-Time Equivalent) for Markel’s underwriting team.
Authentic Secures $5.5 Million in Seed Funding to Unveil Innovative Captive Insurance Platform
Authentic, the turnkey insurance platform catering to vertical Software-as-a-Service (SaaS) enterprises, has successfully raised US$5.5 million in seed funding.
Openly Secures $100 Million in Series D Funding Round
In a significant financial development, home insurance startup Openly has successfully raised $100 million in its latest Series D funding round, with Eden Global Partners spearheading the investment.
Bolttech Secures US$50 Million in Series B Funding Round Led by LeapFrog Investments
Singapore-based insurtech leader, bolttech, has successfully raised $50 million in its latest Series B funding round, with impact investment firm LeapFrog Investments at the helm of this strategic investment.
SMB Insurtech Kayna Raises US$1.06 Million in Pre-Seed Round
Kayna, the Cork-based award-winning embedded insurance infrastructure platform, has closed a US$1.06 million pre-seed funding round.
Talanx Launches €300 Million Capital Raise to Boost Free Float
European insurance giant Talanx has initiated a €300 million capital raising effort aimed at expanding its free float, a strategic move to bolster the liquidity of its shares and solidify its standing in equity indices.
Redkik Announces a Strategic Partnership with Lockton Companies Via McLeod Software
Redkik has announced it is joining forces with Lockton Companies, the world’s largest privately held insurance broker, in an exciting strategic partnership with McLeod Software.
Stoïk Secures US$10.7 Million in New Funding, Eye’s International Expansion
In a recent undisclosed series funding round, cybersecurity insurance startup Stoïk has successfully raised $10.7 million, with contributions from both existing investors such as Alven and Andreessen Horowitz, as well as new backers, including Munich Re Ventures and Opera Tech Ventures.
Hong Kong Insurtech Bowtie Raises US$34.9 Million in Series B2 Funding Round
Hong Kong-based virtual insurer, Bowtie, has announced the successful conclusion of a Series B2 funding round, raising a substantial $34.9 million in capital.
Hippo Investors Call for Board’s Strategic Review Following Share Price Dip
Leading P&C insurtech Hippo has come under scrutiny, after a concerned shareholder group sent an open letter to the company’s board of directors.
Benekiva Appoints Tony Diodato As New CRO of Benekiva’s Claims Platform Solutions
Benekiva, a leading provider of innovative digital claims automation and optimisation solutions, proudly announces the appointment of Tony Diodato as its new Chief Revenue Officer.
HUB’s US$23 Billion Valuation Brings in Additional Minority Investment
Hub International Limited (HUB), a leading global insurance brokerage, announced today that it has successfully completed a substantial minority investment from Leonard Green & Partners, L.P. (LGP), along with several other prominent institutional minority investors.
Insurtech Funding Round-Up: SEVEN Stellar Investment Events Scaling the Industry
In our latest insurtech investment funding round-up, we look at SEVEN companies that have raised significant amounts of capital that will drive their scaling strategies and disruption in the industry.
Delos Insurance Solutions Secures US$7.3 Million in Seed Funding Extension Round
Delos Insurance Solutions, a pioneering player in the insurance industry, has successfully concluding a seed extension funding round, amassing an impressive US$7.3 million in investments.
Kin Raises US$33 Million in Extended Series D Funding Round
The direct-to-consumer home insurance company, Kin, has raised US$33 million in its Series D funding round extension.
Nomura Invests in Prismic Life Reinsurance: Boosts Combined Initial Equity Investment to US$1 Billion
Nomura has announced an equity investment into Prismic Life Reinsurance, Ltd. (Prismic), a licensed Class E Bermuda-based life and annuity reinsurance platform, alongside Prudential Financial, Inc. (US) (“PFI”), Warburg Pincus and other investors.
Coaction Global Raises US$200 Million in Funding to Boost Transformation into Full-Service Specialty Insurance Provider
Private specialty insurance group, Coaction Global, has secured approximately US$200 million in a recent capital injection to propel its evolution into a comprehensive specialty insurance provider.
Insurtech DGTAL Secures US$3.2 Million in Strategic Funding
DGTAL, a pioneering insurtech specialising in AI-powered tools for insurance portfolios, has successfully secured US$3 million in strategic funding from various investors.
Spanish Insurtech Inari Secures US$5.2 Million in Funding to Advance Innovative Insurance Technology
Inari, a Barcelona-based insurtech that provides core technology infrastructure for the global insurance and reinsurance sectors, has raised US$5.2 million in funding through a seed round led by Caixa Capital Risc in partnership with Criteria Venture Tech.
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