The Austin-based company has developed a platform that allows landlords to explore and purchase insurance products for their residential properties.
The Series B funding was led by Zigg Capital, a real estate technology investment firm, with participation from Matrix Partners, Koch Real Estate Investments, Clocktower Technology Ventures, and Nine Four Ventures.
Steadily’s platform operates as a direct-to-consumer insurance product and caters to approximately 18 million individual rental property owners across the United States. Datha Santomieri, co-founder of Steadily, emphasized the platform’s ability to address the specific challenges faced by the rental property sector when seeking insurance quotes.
“Our product is designed to provide an exceptional customer experience at every stage, allowing real estate investors to easily access insurance throughout their customer lifecycle,” Santomieri explained. “The ongoing support from our investors enables Steadily to rapidly scale and meet the increasing demand for our product from investors nationwide.”
Steadily’s platform streamlines the insurance quote application process by automating certain data entry tasks, resulting in a more user-friendly experience for applicants. Users can obtain a quote within minutes and can communicate with an insurance agent for further inquiries.
With a total funding of $59.5 million to date, Steadily plans to invest in expanding its current offerings and developing new products and services. This includes the implementation of internet-of-things devices at properties to assess damages and handle claims.
Dave Eisenberg, managing partner at lead investor Zigg Capital, praised Steadily for its potential to significantly enhance the existing client experience in the real estate industry. He noted that the insurance sector within real estate has been slower to evolve, often characterized by outdated processes and subpar service. Eisenberg expressed confidence in Steadily’s ability to meet the demands of modern clients and highlighted the company’s commitment to prioritizing user experience.
Zigg Capital closed a $225 million fund in 2021 to support real estate technology start-ups such as Steadily. The firm has previously invested in companies like Snapdocs and OpenSpace.
