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Auto Insurance Financial Services InsurTech North America

Clearcover Scoops Up $200M Series D Round

– Clearcover, the smarter car insurance choice, has closed $200m in Series D funding.
– The round was led by Eldridge, with participation from existing investors American Family Ventures, Cox Enterprises, OMERS Ventures, as well as several other new investors.
– Clearcover has raised $329m in total funding to date.

Auto Insurance FinTech Insurance InsurTech Mobile North America Property Insurance Software

Snapsheet Scoops Up $30M Series E2 Round

– Snapsheet, a pioneer in virtual appraisals and a leader in cloud-native claims management software, has raised $30M in Series E2 funding.
Ping An Global Voyager Fund and Pivot Investment Partners led the round.
– Existing investors include Nationwide, Liberty Mutual, Intact Ventures, Tola Capital, Commerce Ventures, among others.
– These new funds will be used to accelerate growth and add new functionality to Snapsheet’s cloud native end-to-end claims management platform.

Auto Insurance Commercial Insurance Europe Finance FinTech Insurance InsurTech Professional Services Small and Medium Businesses

Zego, the tech-enabled commercial motor insurer, raises $150M at $1.1B valuation

– Zego, an insurtech that got its start by offering flexible motorbike insurance for gig economy workers but has since expanded with a range of tech-enabled commercial motor insurance products, has raised $150m.
– The funding round was led by DST Global and joined by General Catalyst, whose founder and MD, Joel Cutler, joins Zego’s board.
– Notable investors include Wise’s Taavet Hinrikus, who is also on the Zego board, and Target Global, Balderton Capital and Latitude.
– The insurance company says it will use the funding to “rapidly expand across Europe and beyond”.
– It will also double its workforce, which currently stands at 265 employees, to over 500 employees by the end of 2021, and continue to invest in technology.

Auto Insurance Finance Insurance North America

Ratesdotca Raises $51M in Funding

– Ratesdotca Group Ltd. is a Toronto-based platform for insurance and money products.
– The company raised $51m in funding round.
– The round was a combination of additional equity investment from majority shareholder Ontario Teachers’ Pension Plan Board and debt financing led by BMO Financial Group through a syndicated facility with TD Bank Group.
– The new investment will be used to invest in technology to create a digital insurance shopping experience.

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