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Finance FinTech Insurance InsurTech North America Software

Ascend raises $5.5M to provide a BNPL option for commercial insurance

– Ascend, a payments platform for insurance companies, raised $5.5m in seed funding.
– The round was led by First Round Capital and joined by Susa Ventures, FirstMark Capital, Box Group and a group of angel investors.
– The company is live in 20 states.
– It offers point-of-sale financing to enable insurance brokers to break up those commercial payments into monthly installments.

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B2B Insurance InsurTech North Africa and the Middle East Productivity Tools SaaS

Insuretech Innovator, Five Sigma, Raises $12 Million to Accelerate Growth and Expansion Plans

– Five Sigma, an industry leading claims platform provider, has raised $12M in a Series A round led by 83North and featuring existing investors F2 Venture Capital and Pipeline Capital.
– New investors include Eyal Ofer’s O.G. Tech, Xceedance and iGlobe Partners.
– This brings the company’s total funding to date to $18M.
– Five Sigma delivers a cloud-native, data-driven claims management platform with embedded AI/ML capabilities that enables insurance firms to handle customers’ claims better and faster.
– The insurance space is going through major changes with new products, new and evolving business and risk models, and new consumer expectations.
– Five Sigma’s approach to claims management process and claims data addresses these rapid changes and new requirements.

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Analytics Artificial Intelligence Big Data Insurance InsurTech Machine Learning North America SaaS Software

Kalepa Raises $14M In Series A Funding

– Kalepa is a NYC-based commercial insurance platform provider.
– Company raised $14m in Series A funding.
– The round was led by Inspired Capital, with participation from previous investor IA Ventures, as well as Gokul Rajaram of Doordash, Coinbase, and formerly of Google, Jackie Reses, formerly of Square, and Henry Ward of Carta.
– The new investment will be used to grow the team four-fold over the next year, with an emphasis on engineering, data science, and insurance talent.

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Artificial Intelligence Banking Credit Cards Financial Services FinTech InsurTech Lending Machine Learning Personal Finance South Asia

WeRize Raises USD8M in Series A Funding

– WeRize is a Bengaluru, India-based socially distributed financial services platform.
– The company raised USD8M in Series A funding.
– The round was led by 3one4 Capital, Kalaari Capital, Picus Capital and Orios Venture Partners.
– The new investment will be used to accelerate growth and expand operations.

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Finance Financial Services FinTech Insurance InsurTech Western Europe

UK’s Marshmallow raises $85M on a $1.25B valuation for its more inclusive, big-data take on car insurance

– Marshmallow, a U.K.-based car insurance provider, raised $85m in a new round of funding.
– The company is valued at $1.25bn.
– The plan now is to deepen its relationships with customers, in part by providing more engagement to make them better drivers, but also potentially selling more services to them, too.
– The average age of Marshmallow’s customers is 20 to 40.

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Auto Insurance Commercial Insurance FinTech Health Insurance Insurance InsurTech Predictive Analytics Property Insurance Southeast Asia

Bangkok-based insurtech Sunday banks $45M Series B from investors like Tencent

– Sunday, an insurtech startup based in Bangkok, announced it has raised a $45m Series B.
– Investors include Tencent, SCB 10X, Vertex Growth, Vertex Ventures Southeast Asia & India, Quona Capital, Aflac Ventures and Z Venture Capital.
– The company says the round was oversubscribed, and that it doubled its revenue growth in 2020.
– Founded in 2017, Sunday describes itself as a “full-stack” insurtech, which means it handles everything from underwriting to distribution of its policies.
– Its products currently include motor and travel insurance policies that can be purchased online, and Sunday Health for Business, a healthcare coverage program for employers.
– Sunday also offers subscription-based smartphone plans through partners.

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Artificial Intelligence Auto Insurance Home Services InsurTech Life Insurance North America Price Comparison

Insurify Secures $100M in Series B financing led by Motive Partners

– Insurify, America’s highest-rated virtual insurance agent and comparison platform, announced it has closed $100M in Series B funding led by Motive Partners.
– The round included participation from existing investors Viola FinTech, MassMutual Ventures, Nationwide, Hearst Ventures, Moneta VC, as well as new investors Viola Growth and Fort Ross Ventures.
– This is the most recent development for the fast-growing company, which has raised a total of $128M to date, has grown its new and recurring revenue by 6x since its Series A funding in Q4 of 2019, and has achieved a CAGR of 151% for the last three years.

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B2B Information Technology Insurance InsurTech Life Insurance North America SaaS Software

Slope Software Raises $2M in Funding

– Slope Software is an insurtech startup based in Atlanta, GA.
– The company raised $2.0m in funding.
– The round was led by Tech Square Ventures, with participation from Alerion Ventures and Charlotte Angel Fund, and existing investor Cofounders Capital.
– The new investment will be used to expand operations and the company’s business reach.

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Agriculture Artificial Intelligence Information Technology InsurTech North America

Agrograph Closes Latest Funding Round for Agricultural Risk Rating

– Agrograph is a Midwest agricultural technology company leading the industry in commercially viable and highly scalable data solutions.
– Agrograph closed a successful Series Seed venture capital round led by Mucker Capital with participation from Idea Fund of La Crosse.
– The funding expands Agrograph’s sales and marketing efforts, advancing its core customer base and expediting the delivery of its agricultural risk-management solutions.

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E-Commerce Financial Services FinTech Insurance InsurTech Marketplace Southeast Asia

Indonesian D2C insurance marketplace Lifepal raises $9M Series A

– Lifepal, a marketplace for insurance policies, raised $9m in Series A funding.
– The round was led by ProBatus Capital, with participation from Cathay Innovation and returning investors Insignia Venture Partners, ATM Capital and Hustle Fund.
– Lifepal was founded in 2019 by former Lazada executives Giacomo Ficari and Nicolo Robba, along with Benny Fajarai and Reza Muhammad.
– The new funding brings its total raised to $12m.

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Call Center Collaboration Customer Service Data Visualization InsurTech North Africa and the Middle East SaaS

FICX Raises $8M in Series B Funding

– FICX (fka CallVU), a San Francisco CA-based CX Automation company, raised $8M in Series B funding.
– The round was led by NAventures with participation from Prytek and Liberty Global Ventures.
– The company intends to use the funds to expand the core platform as well as drive market adoption of its CX Automation tools.

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Artificial Intelligence Insurance InsurTech Machine Learning North America

TrustLayer Raises $15M to Build the Future of Insurance Verification

– TrustLayer, a collaborative risk management platform, announced it has closed a Series A funding round of $15.1m.
Craft Ventures led the round with participation from Abstract Ventures, Box Group, Propel Venture Partners, NFP Ventures, Sure Ventures, and PruVen Capital.
– TrustLayer is the preferred solution to replace the insurance industry’s antiquated, paper-based methods for verifying coverage, introducing significant risk to supplier-driven sectors such as construction, banking, property management, and sports entertainment.

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Insurance InsurTech North America

After raising $10M, Breeze breathes fresh air into a stagnant disability insurance market

– Breeze, a digital platform for disability and critical illness insurance, raised $10m in Series A funding.
– The round was led by Link Ventures and joined by Northwestern Mutual Future Ventures, Silicon Valley Bank, M25, Fiat Ventures and Invest Nebraska.
– The company plans to use the funding to expand its team and product offerings.

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Auto Insurance Insurance InsurTech North America

Jerry raises $75M at a $450M valuation to build a car ownership ‘super app’

– Jerry, a car ownership marketplace, raised $75m in Series C funding.
– The round was led by Goodwater Capital and joined by Bow Capital, Kamerra, Highland Capital Partners and Park West Asset Management.
– The company has raised $132m since its inception in 2017.
– Jerry aims to save its customers time and money on car expenses.
– Jerry launched its car insurance comparison service using artificial intelligence and machine learning in January 2019.

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Artificial Intelligence FinTech Insurance InsurTech Machine Learning North Africa and the Middle East Risk Management

Vesttoo Raises $6M in Series A Funding

– Vesttoo, a Tel Aviv, Israel-based Alternative Reinsurance and Investment platform, raised $6m in Series A funding.
– The round was led by Hanaco Ventures.
– The company intends to use the funds to further develop its offerings.

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Commercial Innovation Management InsurTech Latin America

reThought Raises $15.5M in Series A Funding

– reThought Insurance, a Broomfield, Colo.-based tech-enabled MGA, closed a $15.5m Series A funding.
– The round was led by Telstra Ventures with participation from Hudson Structured Capital Management and ArcTern Ventures as welll as existing venture funds Menlo Ventures, ManchesterStory and Streamlined Ventures.
– The company intends to use the funds to expand sales team, technology, research and development and growth in the flood insurance market.

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Banking Financial Services FinTech Information Technology InsurTech North America

Mercury Announces $120M Series B Round

– Mercury, a digital banking outfit targeting startups, has raised $120m at a $1.62bn valuation in a Series B funding round.
Coatue led the round, with participation from Andreessen Horowitz, CRV, Sapphire Venture and a host of angels.
– Mercury is building banking for startups. The company wants to power the next generation that will shape American industry.

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Compliance Cyber Security Fraud Detection Information Technology InsurTech Risk Management SaaS Security Software Western Europe

FRISS Raises $65 Million Series B Funding Led by Accel-KKR

– FRISS closed a $65m Series B funding round led by Accel-KKR, advised by FT Partners and endorsed by existing investor, Aquiline.
– The funding will fuel the company’s rapid growth with additional product innovations, deep market penetration and lines of business expansions.
– FRISS serves insurers in over forty countries today, and is well on track to deliver over $2 billion in fraud savings to insurers in 2021 alone.
– Insurance fraud is a large and growing problem faced by insurance companies, with estimates of fraud in as much as 10-17% of total claims paid annually – a staggering $80bn annual loss in the US insurance market alone.

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Cyber Security Insurance InsurTech North America

Cyber Insurance Startup At-Bay Closes $185 Million Series D, Valuing Company at $1.35 Billion

– At-Bay announced the closing of a $185m Series D financing round.
– The new funding was co-led by Icon Ventures and Lightspeed Venture Partners, with participation from existing investors including Khosla Ventures, M12, Acrew Capital, Qumra Capital, Munich Re Ventures, entrepreneur Shlomo Kramer, and Glilot Capital.
– At-Bay’s post-money valuation now sits at $1.35b.
– Preeti Rathi, General Partner at Icon Ventures, has joined At-Bay’s Board of Directors in conjunction with the financing.
– At-Bay recently surpassed $160m in annual recurring revenue on 800% year-over-year premium growth.

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Finance Financial Services Insurance InsurTech Life Insurance North America

Ethos Raises $100M in Funding

– Ethos, an San Francisco, CA -based life insurtech company, raised an additional $100 in funding.
SoftBank Vision Fund 2 made the investment which brought the valuation of the company to $2.7b and total funds raised to $400m.
– The company intends to use the funds to expand its business reach.

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InsurTech North America Property Management Real Estate Software

JLL, Khosla lead Jones’ $12.5M Series A for real estate vendor compliance

– Jones, a commercial real estate startup, raised $12.5m in Series A funding.
– The round was led by JLL Spark and Khosla Ventures that also included strategic investors Camber Creek, Rudin Management, DivcoWest and Sage Realty.
– The company also manages certifications and approvals, moving the whole process online.
– Its technology can process an insurance certificate in less than an hour and reduce the overall vendor approval time to 2.5 days — from 12 days — with 99.9% accuracy.

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AgTech Analytics B2B InsurTech Predictive Analytics Risk Management Software Western Europe

Climate X Raises $1.5M in Funding

– Climate X is a London UK-based climate Intelligence startup.
– The company raised $1.5m in funding.
– The round was led by Pale Blue Dot, with participation from Blue Wire Capital, A100x and Possibilian.
– The new investment will be used to expand operations, accelerate growth and its business reach.

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Analytics Artificial Intelligence Information Technology InsurTech Machine Learning North America Property Insurance Real Estate

CAPE Analytics Raises $44 Million, Led by Pivot Investment Partners

– CAPE Analytics announced $44m in Series C financing, led by Pivot Investment Partners.
Aquiline Technology Growth and HSCM Bermuda also joined the Series C round, with across-the-board participation from existing investors, including Formation8 and Brewer Lane Ventures.
– The infusion of capital will be used to accelerate the creation of new property insights, powered by machine learning, for CAPE’s growing client base.
– CAPE Analytics serves over 50 subscription customers across insurance and real estate markets, such as Hippo Insurance, Amica Insurance, and State Auto Insurance.
– The Series C funding will allow CAPE Analytics to diversify its suite of data sources and partnerships, expand its coverage footprint in the U.S., Canada, and beyond, and grow its team of machine learning, data science, and risk experts.

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Insurance InsurTech Online Portals Southeast Asia

bolttech Raises $180M in Series A Funding

– bolttech, a New York and Singapore-based insurtech company, raised $180M in Series A funding.
– The round was led by Activant Capital Group with participation from Tony Fadell – Principal at Future Shape, Alpha Leonis Partners, Dowling Capital Partners, B. Riley Venture Capital and Tarsadia Investments.
– The new investment will be used to accelerate the company’s growth strategy and solidify its position in the market.

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Australia and Oceania Financial Services Insurance InsurTech

handdii Raises $3M in Seed Funding

– handdii, a San Francisco, CA-based property claims experience, claim management platform, raised $3m in seed funding.
– The round was led by Brick & Mortar Ventures with participation from Nine Four Ventures and Scale Investors and Fifty-Second Celebration.
– The new investment will be used to bolster its team of software engineers, expand contractor networks in both the United States and Australia and invest in strategic integrations including a Guidewire ClaimCenter Ready for Guidewire app in the Guidewire Marketplace.

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Financial Services FinTech Information Technology Insurance InsurTech Machine Learning SaaS Western Europe

Akur8 Raises $30M in Series B Funding

– Akur8, a Paris, France and New York, NY-based company automating insurance pricing with proprietary AI, raised $30m in Series B funding.
– The round was led by BlackFin Capital Partners and MTech Capital.
– The new investment will be used to accelerate the company’s international expansion and product development.

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FinTech Fitness Health Care InsurTech Latin America

Betterfly Raises $60 Million Series B in Latin America’s Largest Insurtech Round

– Betterfly, the purpose-driven benefits platform, announced that it has raised $60m in Series B from partners of DST Global, QED investors, Valor Capital, Endeavor Catalyst and the SoftBank Latin America Fund.
– The $60m Series B represents Latin America’s largest insurtech fundraising round and comes just six months after Betterfly raised its $18m Series A.
– The round brings Betterfly’s total equity raised to $80m.
– Betterfly, founded in 2018 by Endeavor entrepreneur Eduardo della Maggiora, is reimagining both product and distribution in the global insurance market and has developed a unique embedded insurance B2B2C model that integrates wellbeing, insurance and social purpose with a mission to help people do better, live better, and be better.

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Artificial Intelligence FinTech Fraud Detection InsurTech Machine Learning North Africa and the Middle East Security

Fraud protection startup nSure AI raises $6.8M in seed funding

– Startup nSure AI has raised $6.8m in seed funding.
– The round was led by DisruptiveAI, Phoenix Insurance, AXA-backed venture builder Kamet, Moneta Seeds and private investors.
– The company provides fraud detection for high-risk digital goods, such as electronic gift cards, airline tickets, software and games.
– It has a 98% approval rating on average for purchases, compared to an industry average of 80%.

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Auto Insurance Insurance InsurTech North America Property Insurance

Branch Insurance Raises $50M in Series B Funding

– Branch Insurance from Columbus, OH provides home and auto insurance services to its customers.
– The company raised $50m in Series B funding.
– The round was led by Anthemis Group with participation from Acrew, Cherry Creek Holdings, and existing investors Greycroft, HSCM Bermuda, American Family Ventures, SignalFire, SCOR P&C Ventures, Foundation Capital, and Tower IV.
– The new investment will be aimed at accelerating the company’s rollout across the U.S. to enable more national embedded partnerships.

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Auto Insurance Insurance InsurTech North America Property Insurance

Branch raises $50M to offer bundled auto & home insurance via an API

– Branch Insurance, a startup offering bundled home and auto insurance, has raised $50m in a Series B funding round.
– The round was led by Anthemis Group and joined by Acrew, Cherry Creek Holdings and existing backers Greycroft, HSCM Bermuda, American Family Ventures, SignalFire, SCOR P&C Ventures, Foundation Capital and Tower IV.
– With this latest financing, Columbus, Ohio-based Branch has raised $82.5m in total funding since its 2017 inception.

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Financial Services Insurance InsurTech North America Risk Management

Insurtech Startup Certificial Secures $5.8 Million in Series A Funding

– Certificial announced an oversubscribed $5.8m Series A funding round, led by IA Capital.
– The platform is designed to eliminate pain points for all stakeholders involved in the COI exchange process, including agents and brokers, the insured, and the requestor.
– Certificial has also launched a partnership with the Property and Casualty Insurance Business of EXL [NASDAQ: EXLS] to provide additional automation for all stakeholders.
– Certificial welcomed over 6,000 new agencies and brokers to the platform in Q1 of 2021.
– Certificial supports tens of thousands of corporate users, including several leading U.S. companies from all industries, that can now monitor their suppliers’ insurance coverage in real-time, without the administrative burden and cost.

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Financial Services Insurance InsurTech North America Property Insurance

Kin Insurance Closes $69.2M Series C Funding

– Kin Insurance, a Chicago, IL-based insurance technology company, raised $69.2M in Series C funding.
– The round was originally co-led by Hudson Structured Capital Management Ltd. (doing its re/insurance business as HSCM Bermuda) and Senator Investment Group.
– New investor – Symphony Ventures, an investment partnership established by professional golfer Rory McIlroy and his team, joined along with Flourish Ventures, a global fintech fund founded by Pierre Omidyar, the founder of eBay.
– The company intends to use the funds to ramp up hiring and expand into new markets such as Texas and the Gulf Coast, and hurricane-prone regions that touch the Atlantic Ocean.

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Financial Services FinTech Insurance InsurTech Western Europe

Anorak Raises £5M in Funding

– Anorak, a UK-based automated life insurance advice platform, raised £5m in funding.
– The round was led by Outward VC with participation from Nic Kohler, the former CEO of Hollard, Paul Evans, Chairman of Allianz PLC, and board member of Bupa and SwissRE Europe, Charlie Delingpole (CEO and founder of ComplyAdvantage), and Will Neale (Founder of Fonix and Grabyo).
– The company intends to use the funds to accelerate the expansion of its distribution and partners network, while investing in its fully automated advice platform.

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Finance FinTech Insurance InsurTech Pet Western Europe

Bought By Many Raises USD 350M in Series D Funding

– Bought By Many, a London, UK-based pet insurance provider, raised USD 350m in Series D funding.
– The round was led by EQT Growth.
– Following the investment, Carolina Brochado, Partner in EQT Growth’s advisory team, will join Bought by Many’s Board.
– The company intends to use the funds to accelerate expansion into new geographies and invest in product innovation.

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FinTech Insurance InsurTech Western Europe

wefox Closes $650M in Series C Funding

– wefox is a digital insurance company based in Berlin.
– The company raised US$650m in Series C funding.
– The round was led by Target Global with participation from existing investors OMERS Ventures, Gsquared, Merian, Horizons Ventures, Eurazeo, Mubadala, Creditease, Salesforce Ventures, Speedinvest, Alma Mundi Ventures, Victory Park Capital, GR Capital, Mountain Partners, Seedcamp, and Sound Ventures.
– The new investment will be used to expand into the US and Asia within the next two years while strengthening its presence in its existing markets in Germany, Austria, Switzerland, and Poland.

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Financial Services FinTech Health Care Health Insurance Information Technology InsurTech North America Online Portals

Health Plan Administration Company Flume Health Raises $10 Million

– Flume is a health plan administration platform for the modern fragmented healthcare ecosystem.
– The company raised $6m in equity funding.
Crosslink Capital led the round and Route 66 Ventures and Convene CEO Ryan Simonetti also participated.
– Existing investors Accomplice, Founder Collective, and Primary Venture Partners also participated in the Seed II round.

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Artificial Intelligence Information Technology Insurance InsurTech Western Europe

Decision Automation Company Shift Technology Raises $220 Million

– Shift Technology is a SaaS provider of AI-driven decision automation and optimization solutions for the global insurance industry.
– The company closed a $220m Series D round of funding.
– The round was led by Advent International, through Advent Tech with participation from Avenir and others.
– Previous Series C participants Accel, Bessemer Venture Partners, General Catalyst, and Iris Capital also joined the round.
– The funding will fuel the company’s execution of its vision to revolutionize the policyholder experience through wide-ranging products that apply AI and advanced data science to key insurance processes.

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Financial Services FinTech Information Technology Insurance InsurTech North Africa and the Middle East Software

Parametrix Insurance raises $17.5 million to offer cloud downtime insurance

– Parametrix, a startup that offers insurance policies for companies that rely on third-party cloud providers, e-commerce services, payment gateways and CRM systems, raised $17.5m funding.
– The round was led by FirstMark Capital and F2 Venture Capital.
– The company offers insurance policies for companies that rely on third-party cloud providers, e-commerce services, payment gateways and CRM systems.
– It offers insurance policies for companies that rely on third-party cloud providers, e-commerce services, payment gateways and CRM systems.

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Artificial Intelligence Cyber Security Insurance InsurTech North America

Corvus Welcomes New Investors With $15M Series C Financing Extension

– Corvus Insurance secured extensions to its recent Series C funding, led by venture capital firms FinTLV and Aquiline Technology Growth (ATG).
– The latest investments will add to Corvus’s three rounds of venture capital previously announced — including its $100M Series C funding — bringing Corvus’s overall funding to $162M.
– Corvus’s broker-focused approach uses AI and machine learning to analyze unique and proprietary sets of data to better predict and prevent loss.
– This novel approach helps policyholders, brokers, underwriters, and reinsurers incorporate data science into the dynamic commercial insurance marketplace.

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Artificial Intelligence Cyber Security Insurance InsurTech North America

Corvus Lands $15M Series C Extension

– Corvus Insurance from Tel Aviv has secured extensions to its recent Series C funding, led by venture capital firms FinTLV and Aquiline Technology Growth (ATG).
– Corvus partners with major insurers and acts as a Managing General Agency (MGA) to create broker-distributed, tech-enabled commercial insurance products that use novel data sets to predict and prevent commercial insurance claims.
– Corvus has already launched two Smart Commercial Insurance products: Smart Cyber Insurance and Smart Cargo Insurance.

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Computer Vision Insurance InsurTech North America

Mile Auto Raises $10.3M in Seed Funding

– Mile Auto, an insurtech company from Atlanta, GA, secured $10.3m in seed funding.
– The funding was led by Ulu Ventures, Emergent Ventures, Thornton Capital and Sure Ventures.
– The new investment will be used to expand the company’s insurance offering to half of the U.S. auto insurance market by the end of 2021.

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Financial Services FinTech Insurance InsurTech North America

B2B Insurtech Platform Boost Raises $20M Series B to Make Insurance Market Accessible for All Companies

– Boost completed a $20m Series B financing round to fuel growth of its platform, new product development and partner marketing.
– The round was led by RRE Ventures and included new investors Fin VC, Gaingels, Hack VC and a global publicly traded reinsurance company along with existing investors Greycroft, Coatue, and Conversion Capital.
– Boost’s funding since inception totals $37m.
– Boost is the leading B2B digital insurance platform.

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Developer APIs E-Commerce Enterprise Software InsurTech North America

Extend – Leader in Modern Product Protection – Announces $260M Series C Led by SoftBank Vision Fund 2, Achieving Unicorn Status With Over $1.6B Valuation

– Extend, the leading provider of modern extended warranty and product protection plans for merchants and consumers through API-first solutions, announced a $260M Series C funding round led by SoftBank Vision Fund 2.
– The funding round also includes participation from existing investors Meritech Capital Partners, PayPal Ventures and GreatPoint Ventures, and welcomes new investors Nationwide, Tomales Bay Capital, Launchpad Capital, 10X Capital and 40North.
– The oversubscribed round brings Extend’s total funding to more than $315M and cements the company’s unicorn status with a $1.6B+ valuation.
– This new round of funding will be used to continue to scale the Extend team, accelerate its technology footprint, and expand its suite of services that improve customer loyalty and drive revenue for merchants.

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Financial Services FinTech Insurance InsurTech North America

Waffle Closes $5 M Total Seed Funding Round and Launches All-In-One Insurance Solution

– Waffle announced a total $5m seed round led by Verve Ventures, with participation from BetterLabs Ventures and Techstars.
– The company is launching in both iOS and web, which is available across all 50 states and connects users with top-rated nationwide insurance providers in minutes.
– Waffle offers the ‘YOU’ insurance – one platform to protect you, everyone and everything you love. This includes your car, home, life, travel, pet, digital life, identity, friends and family.
– Waffle partners with some of the best insurance companies in the business to offer their users simple, fully customizable products with broad coverage and limited to no exclusions.

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Artificial Intelligence Auto Insurance Automotive Financial Services FinTech Insurance InsurTech North America

AI-powered Jerry raises $28M to help you save money on car insurance

– Jerry, a mobile-first car ownership “super app,” has raised $57m funding.
– The round was led by Goodwater Capital and joined by angel investors including Greenlight president Johnson Cook and Greenlight CEO Timothy Sheehan; Tekion CEO Jay Vijayan; Jon McNeill, CEO of DVx Ventures and former president of Tesla and ex-COO of Lyft; Brandon Krieg, CEO of Stash and Ed Robinson, co-founder and president of Stash.
– The company plans to use the new capital to move into other categories of car ownership.

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Artificial Intelligence Auto Insurance Automotive Financial Services FinTech Insurance InsurTech North America

Jerry Raises $28M in Series B Funding

– Jerry Services, Inc. provides customized quotes from more than 45 insurance carriers quickly.
– The round was led by Goodwater Capital with participation from Jay Vijayan, CEO of Tekion; Jon McNeill, CEO of DVx Ventures (former president of Tesla and COO of Lyft); Brandon Krieg, CEO of Stash; Ed Robinson, co-founder and president of Stash; Johnson Cook, president of Greenlight; and Timothy Sheehan, CEO of Greenlight.
– The new funding will be used to scale the car insurance product and hire talent to expand its marketplace into additional categories.

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Apps Finance FinTech Insurance InsurTech Western Europe

Wrisk Raises £4.6M IN Series A Funding

– Wrisk, a London, UK insurtech company, raised £4.6M in funding.
– The round was led by QBN Capital with participation from investors Guinness Asset Management and Cell Rising Capital.
– The company intends to use the funds to expand operations and its business reach.

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FinTech Insurance InsurTech North America Software

Wunderite Secures $3 Million Seed Funding to Modernize Software for Insurance Agents

– Wunderite announced a $3m seed funding round led by Spark Capital with participation from Boston Seed and leading insurance industry firms and their executives, including John Wepler from MarshBerry, Scott Addis from Beyond Insurance, Brian Hetherington from The ABD Team, Ty Harris from Openly, Andrew Krantz from York International, Heffernan Insurance Brokers, Trustco Inc, and BrokerTech Ventures.
– The new capital will fuel the company’s rapid growth by accelerating product development and increasing distribution to agencies across the country.
– Wunderite also announced it has added Spark Capital’s General Partner Alex Finkelstein to its Board of Directors.
– Wunderite’s annual subscription-based platform delivers an intuitive workflow for independent agents, enabling them to better serve customers purchasing or renewing Property & Casualty insurance.

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Artificial Intelligence InsurTech North America Risk Management Sensor

Earthquake-monitoring platform Safehub raises $9M

– Safehub, a startup developing an internet of things platform to monitor the structural integrity of buildings, today announced the closure of a $9 million series A round led by A/O PropTech.
– The company says it will use the capital to expand its platform and acquire new customers, as well as growing its engineering team.
– A recent FEMA study pegged U.S. losses from earthquakes at $4.4 billion per year. Each year, there are on average about 15 earthquakes with a magnitude of 7 or greater, strong enough to cause damage in the billions and significant loss of life.
– In spite of this, more than 60% of U.S. small businesses don’t have a formal emergency-response plan and fail to back up their sensitive data offsite.

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Auto Insurance Financial Services Insurance InsurTech Mobile North America Property Insurance

Sigo Raises $1.5M in Seed Funding

– Sigo is a Jersey City, NJ-based managing general agency providing underserved populations with access to auto insurance.
– The company raised $1.5M in seed funding.
– Backers included Amicle Capital, Bonded Capital Ventures, Demeter Capital, Financial Solutions Lab, Park City Angels, and gANGELS.
– The company intends to use the funds to continue to expand operations and the business reach of its auto insurance product for immigrant and Latinx customers.

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Financial Services Insurance InsurTech North America

Brella Insurance Raises $15M Series A to Fund National Expansion of Supplemental Health Insurance Solution

– Brella Insurance raises $15M Series A to fund national expansion of supplemental health snsurance solution.
– The round was led by Brewer Lane Ventures, and includes participation from Fidelity Security Life Insurance Company among others.
– Existing investors SymphonyAI LLC, Digitalis Ventures, Two Sigma Ventures, New York Life Ventures, and Founder Collective, among others, also participated in the round.

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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.

FinTech Insurance InsurTech North America UX Design

Salty Dot Raises More Than $15M in Funding

– Salty Dot Inc. is a Salt Lake City, UT-based Embedded Insurance technology company.
– The company raised $15M in additional funding.
– This brings the company’s capital raised to date to over $31m.
– The backers were not disclosed.
– The company intends to use the funds to drive growth with partners, optimize the Embedded Insurance platform, and develop product further.
– The new investment will be used to accelerate the company’s global expansion and development of new products.

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Commercial Insurance Finance Insurance InsurTech North America Small and Medium Businesses

Next Insurance Raises $250M in Funding; Valued at $4 Billion

– Next Insurance, a Palo Alto, Calif.-based digital insurtech company transforming small business insurance, raised $250m in funding.
– The round was led by FinTLV Ventures and Battery Ventures with participation from CapitalG, Group 11, Zeev Ventures, Founders Circle and G Squared.
FinTLV Ventures founder and managing partner Gil Arazi and Battery Ventures general partner Michael Brown will join as board observers.
– The company intends to use the funds to continue to expand operations and its business reach.

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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.

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FinTech Insurance InsurTech North America Small and Medium Businesses

Pie Insurance Completes $118M Series C Round

– Pie Insurance, an insurtech specializing in workers’ comp insurance for small businesses, today announced the completion of a $118m Series C funding round.
Allianz X and Acrew Capital led the round, and existing investors Greycroft, SVB Capital, SiriusPoint, Elefund, and Moxley Holdings also participated in the round.
– This funding round follows Pie’s $127m Series B extension round in May 2020, in which it formed Pie Carrier Holdings with a $100m equity capital commitment to create and purchase licensed insurance companies.
– In total, Pie has raised over $300m in funding since being founded in 2017.

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Artificial Intelligence Insurance InsurTech North America

Corvus Insurance: $100 Million Series C Funding And $750 Million Valuation

– Corvus is a leading provider of smart commercial insurance products powered by AI-driven risk data.
– The company raised $100m in Series C funding.
– The round was led by and included all of its previous institutional investors.
– This funding round increased Corvus’s valuation to $750m.
Insight Partners’ Managing Director Deven Parekh will join the Corvus Board of Directors, and Principal David Spiro will join as a Board Observer.
– Corvus’s broker-focused approach utilizes its artificial intelligence capabilities to analyze unique and proprietary sets of data to better predict and prevent loss.
– The US commercial insurance market is large, generating over $400 billion per year in premium.

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Artificial Intelligence Big Data FinTech InsurTech North America Software

Counterpart Launches First of Its Kind Insurtech in Partnership With Markel and $10M in Funding, Led by Valor Equity Partners

– Counterpart has raised $10m in funding led by Valor Equity Partners, early backers of pioneering ventures like Tesla, SpaceX, Addepar, and GoPuff.
– Hundreds of brokers nationwide are already using Counterpart to serve thousands of small businesses across most industries.
– Counterpart offers the only management liability insurance platform that leverages technology at every touchpoint – application submission, coverage selection, binding, claims management, and loss prevention.
– Counterpart’s data-centric approach has given them a unique advantage in underwriting small to medium sized businesses.

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Apps FinTech Insurance InsurTech North America

GloveBox Receives $3M Early-Stage Investment to Accelerate Growth of Its Mobile and Web Insurance Agent Platform

– GloveBox, a single sign-on mobile platform that brings together insurance agencies, policyholders, and carriers onto one platform, today announced a $3 million early-stage investment.
– The round was led by Mercato Partner’s Prelude Fund, with participation from Heffernan Insurance Brokers, a top 20 agency out of California, as well as other industry veterans.
– The investment will be used to expand features and enhance the functionality of GloveBox’s product, benefiting both agencies and policyholders.
– GloveBox co-founders Ryan and Andy Mathisen, Sean Mulhern, and Alex Rolex created GloveBox based on their experiences at Colorado Insurance.
– They set out to provide a completely tech-forward mobile marketplace that enables independent agencies to win against larger, incumbent carriers.

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Cyber Security FinTech Insurance InsurTech North America Software

Cowbell Cyber Grabs $20M in Series A

– Cowbell Cyber, an AI-powered cyber insurance provider, has closed $20 Million in Series A funding.
Brewer Lane Ventures led the investment with participation from Pivot Investment Partners, Avanta Ventures, Markel Corporation, and existing investors ManchesterStory, Tri-Valley Ventures, and Holmes Murphy.

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