Funding News

Assured Allies, a Boston, MA-based insurtech company for evidence-based successful aging, raised $42.5M in Series B funding.

Pravina Ladva, Group Chief Digital & Technology Officer of Swiss Re writes about the importance of ‘co-opetition’ within the growing digital ecosystem

Lexasure Financial Group, a leading provider of reinsurance and digital insurance solutions in Southeast and South Asia, and Capitalworks Emerging Markets Acquisition Corp., a publicly traded special purpose acquisition company organized in the Cayman Islands to effect a merger, stock exchange, asset acquisition, stock purchase, recapitalization or other similar business combination, today announced a definitive business combination agreement to provide Lexasure with a path to becoming a publicly listed company through a new Cayman Islands holding company, Lexasure Financial Holdings Corp., that will acquire both Lexasure and CEMAC.

Insurance technology provider Sure has launched Retrace, a solution for online merchants to provide customers with embedded one-click insurance and protection at the point of sale.

Allianz Group has announced the creation of Allianz Commercial, a global commercial insurance segment encompassing its AGCS business serving large corporate clients and its businesses serving mid-sized, country-based accounts.

Monnai, a provider of consumer insights infrastructure for financial institutions, has raised $6.5 million in a Series A funding round led by Tiger Global.

It’s only human nature. If you tell a driver their insurance premium will go down if they drive more safely, then – it turns out – they will probably drive more safely. Scale that up to entire commercial fleets and the costs saving can become extremely significant. However, the trick is to do the tracking in the first place.

US-based VC firm Altai Ventures has launched a new US$53mn fund to invest in early-stage insurtech startups, with the backing of Bain Capital Ventures.

Oka, a Park City, UT-based carbon Insurance company, raised over $7M in Seed funding. The round was led by Aquiline Technology Growth with participation from Firstminute.

The South African insurtech startup Naked, which is xpowered by artificial intelligence (AI) and provides customers with a new, entirely digital approach to insure their vehicles, houses, and belongings, has acquired US $17 million in Series B investment to fuel its expansion.

The infrastructure vendor will roll out new technology solutions designed to power the next generation of insurance experiences in Africa.

FINEOS Corporation today announced the appointment of Ian Lynagh as Chief Financial Officer. Lynagh had been working closely with the CFO in his role as the company’s chief commercial officer.

The Indian insurance platform InsuranceDekho has raised $150 million in a Series A funding round as the firm eyes merger and acquisition opportunities at a time when the market slump has engulfed most startups in the South Asian nation.

Asset-Map Holdings, Inc. (“Asset-Map”), the premier financial advice engagement experience for financial professionals, today announced the close of a $6 million Series B funding round.

Millennials and Gen Zers will represent 75% of the U.S. workforce by 2025 and will come to represent a huge chunk of the buying power in the economy. Industries across the board are adjusting to this vastly different consumer market, and insurance is no exception.

Coincover, a Cardiff, UK-based digital asset protection technology company, raised $30M in funding. The round was led by Foundation Capital.

Automation tech continues to attract funding in an increasingly challenging macroeconomic environment. That’s because of its cash-saving potential, no doubt.

SalesRiver, an enterprise sales enablement platform for distributed sales teams, announced today that it has secured a $3.95mm Series A investment led by Mucker Capital.

Pathpoint, a Washington, DC-based digital insurance wholesaler, raised $12.5M in funding.
The round was led by Caffeinated Capital.

Guardz, a Tel Aviv, Israel-based cybersecurity company building a safer digital world for small businesses, has launched from stealth with $10m in seed funding.

Health benefits company Angle Health announced it had scored $58 million in Series A funding.

Betterview, an InsurTech that provides property risk intelligence, has closed a round of funding.

Cygnvs, a Los Altos, CA-based provider of a guided cyber crisis response platform, raised $55M in Series A funding.

PhonePe, one of India’s largest fintech platforms, has announced it has raised $350 million in funding from General Atlantic, a leading global growth equity firm, at a pre-money valuation of $12 billion.

nsKnox, the global leader in Bank Account Validation and B2B Payment Security, announced today a new funding round of $17 million, bringing its total funding to date to $35.6M.

Liberate Innovations, software-as-a-service (SaaS) platform that enables P&C insurers to fully automate claims and underwriting journeys, has raised $7m in funding and launched its platform

Zurich-headquartered startup TONI Digital has secured $12.5 million in a Series B funding round.

ESP Logistics Technology (ESP), a company dedicated to solving global supply chain problems through our cloud-based geospatial platform, announced that it conducted a 1st closing on its Series A financing. Japan Post Capital Co., Ltd (Japan Post Group), a company group with global logistics reach and extensive supply chain operations, led the round.

Insurance technology company Joyn Insurance announced today that it exceeded its fundraising target with a $17.7 million Series A funding round led by OMERS Ventures with participation from Avanta Ventures, ManchesterStory, Cohen Circle, SiriusPoint and several private individual investors.

actyv.ai, a Singapore-headquartered, category creator in the enterprise SaaS with embedded B2B BNPL and insurance space, has raised a total of $12 million as part of Pre-Series A funding round from 1Digi Ventures, Singapore, the family office of Raghunath Subramanian, Founder and Global CEO of the company.

The MGA will use the funds for personnel, to finish its development roadmap, expand its product base, and increase marketing and sales efforts to add agents to its ecosystem.

Superscript, a London, UK-based insurtech startup, raised £45M in Series B funding.

Alicia, an insurance-as-a-service provider for independent contractors with headquarters in Rotterdam has raised €7M in a Seed round of fundraising.

The new funding will fuel the commercial development of CyberCube’s cutting-edge products and solutions to quantify cyber risk while accelerating go-to-market expansion.

Evertas, “the first cryptoasset and blockchain insurance company,” has closed a $14 million funding round led by Polychain Capital, with participation from SinoGlobal Capital, CMT Digital Ventures, Foundation Capital, Morgan Creek, Bloccelerate, network0, Matrixport, HashKey, and several individual investors.

Australian insurance startup Butter Insurance has closed a $1.3 million pre-seed funding round backed by Flying Fox VC, Quokka Ventures, FB10X and Startmate.

Helios Underwriting has raised £12.5m in funding through a new share placement.

Claims Carbon, a Stockholm-headquartered software business that helps insurance firms assess the carbon footprint of their value chains, has announced a €1.1 million seed raise led by Helsinki investment firm Vaens.

Surround Insurance, an InsurTech passionate about changing the insurance experience for consumers in their 20s and 30s, has raised $2.5m in seed funding.

UK-based pet insurance startup Napo has closed a £15 million Series A round led by DN Capital, with participation from Companion Fund, dmg ventures, FJ Labs, Helvetia Venture Fund, MTech Capital, Picus Capital, Sarona Partners, and T0 Ventures.

Beazley has raised £350m as it flagged plans to accelerate growth in cyber and specialty business.

Send’s core product is a SaaS underwriting workbench designed to streamline operations, automate admin-heavy tasks and free up underwriters to focus on core work.

“Digital insurance agency” Glow has raised $22.5 million in Series A funding. The round was led by Cota Capital, with AV8 Ventures, Markd, Startup Venture Capital, Maiden Re, and more participating in the round.

InsurTech Otonomi has raised $3.4 million in order to build a blockchain-powered parametric cargo platform, according to a company press release.

Anzen, a US insurance startup focused on executive liability, has raised $10 million in fresh funding.

Cover Genius (New York), a global InsurTech dedicated to embedded insurance, announced that it has raised $70 million in Series D funding.

Kin Insurance announced the closing of a $145 million committed credit facility. The new facility, which was led by Runway Growth Capital LLC and the Avenue Venture Opportunities Fund, L.P., provides Kin with additional capital to support the expansion of the Kin Interinsurance Network, a reciprocal exchange.

Qantev, an Artificial Intelligence (AI) InsurTech for health insurers based in Paris, has raised €10m in its Series A funding round.

The company’s emergence as a unicorn is surprising when taking into account the slowdown in fund raising and that it had a valuation of just $22 million last year.

Insurtech and parametric cargo insurance platform, Otonomi has announced that it has closed a $3.4 million funding round to build a first-to-market blockchain-powered parametric cargo platform.