18 notable insurtech funding deals (Updated)
July 16, 2018 5:14 AM
Carrier venture arms and Silicon Valley stalwarts alike continue to pour money into startups promising to revolutionize the insurance sector. Digital Insurance has compiled a list of some notable investments from the first half of 2018.
Golia, Nathan
Metromile
Type of company: Pay-per-mile usage-based insurance
Amount: $62 million, Series E
Key investors: Tokio Marine Holdings, Intact Financial
Amount: $62 million, Series E
Key investors: Tokio Marine Holdings, Intact Financial
Golia, Nathan
Cogito
Type of company: AI-assisted sales and service
Amount: $37 million, Series C
Key investors: Goldman Sachs Growth Equity, Salesforce Ventures, OpenView
Amount: $37 million, Series C
Key investors: Goldman Sachs Growth Equity, Salesforce Ventures, OpenView
Golia, Nathan
League
Type of company: Digital benefits administration
Amount: $47 million, Series C
Key investors: TELUS Ventures, Wittington Ventures, OMERS, Infinite Potential Group, RBC Ventures, Real Ventures and BDC Ventures.
Amount: $47 million, Series C
Key investors: TELUS Ventures, Wittington Ventures, OMERS, Infinite Potential Group, RBC Ventures, Real Ventures and BDC Ventures.
Golia, Nathan
Acko
Type of company: Multiline digital distribution
Amount: $12 million
Key investors: Amazon
Amount: $12 million
Key investors: Amazon
Golia, Nathan
At-Bay
Type of company: Cyber insurance
Amount: $13 million, Series A
Key investors: Khosla Ventures, Lightspeed
Amount: $13 million, Series A
Key investors: Khosla Ventures, Lightspeed
Golia, Nathan
Cape Analytics
Type of company: Property and roof imagery and analytics
Amount: $17 million
Key investors: XL Innovate, The Hartford, Nephila, CSAA Insurance Group, Cincinnati Financial, State Auto Labs Fund
Amount: $17 million
Key investors: XL Innovate, The Hartford, Nephila, CSAA Insurance Group, Cincinnati Financial, State Auto Labs Fund
Golia, Nathan
Clara
Type of company: Claims analytics
Amount: $11.5 million, Series A
Key investors: Oak HC/FT
Amount: $11.5 million, Series A
Key investors: Oak HC/FT
Golia, Nathan
Drone Base
Type of company: Drone-as-a-service
Amount: $12 million, Series B
Key investors: Union Square Ventures, Upfront Ventures, DJI, Hearst Ventures, Pritzker Group
Amount: $12 million, Series B
Key investors: Union Square Ventures, Upfront Ventures, DJI, Hearst Ventures, Pritzker Group
Golia, Nathan
Ethos
Type of company: Digital term life insurance platform
Amount: $11.5 million
Key investors: Sequoia Capital, Roc Nation, Downey Ventures, Durant Co., Family Circle
Amount: $11.5 million
Key investors: Sequoia Capital, Roc Nation, Downey Ventures, Durant Co., Family Circle
Golia, Nathan
Fabric
Type of company: Life insurance
Amount: $10 million, Series A
Key investors: RGAx, Bessemer Venture Partners, Silicon Valley Bank
Amount: $10 million, Series A
Key investors: RGAx, Bessemer Venture Partners, Silicon Valley Bank
Golia, Nathan
Hippo
Type of company: Next-generation home insurance carrier
Amount: $25 million, Series B
Key investors: Comcast Ventures, Fifth Wall
Amount: $25 million, Series B
Key investors: Comcast Ventures, Fifth Wall
Golia, Nathan
iBeat
Type of company: Wearable health technology
Amount: $5 million plus
Key investors: SCOR Life & Health, Transamerica, Kairos, 8VC, City Light Capital, Plug and Play Ventures, ChinaRock Capital Management
Amount: $5 million plus
Key investors: SCOR Life & Health, Transamerica, Kairos, 8VC, City Light Capital, Plug and Play Ventures, ChinaRock Capital Management
Golia, Nathan
Next Insurance
Type of company: Digital commercial insurance distribution
Amount: $83 million, Series B
Key investors: Redpoint Ventures
Amount: $83 million, Series B
Key investors: Redpoint Ventures
Golia, Nathan
Planck Re
Type of company: AI-based underwriting for commercial insurers
Amount: $12 million, Series A
Key investors: Arbor Ventors, Viola FinTech, Eight Roads
Amount: $12 million, Series A
Key investors: Arbor Ventors, Viola FinTech, Eight Roads
Golia, Nathan
PolicyBazaar
Type of company: Insurance aggregator
Amount: $200 million
Key investors: SoftBank
Amount: $200 million
Key investors: SoftBank
Golia, Nathan
Rein
Type of company: Analytics for emerging risks
Amount: $7.3 million
Key Investors: Liberty Mutual Strategic Ventures, Kiplin Capital
Amount: $7.3 million
Key Investors: Liberty Mutual Strategic Ventures, Kiplin Capital
Golia, Nathan
Root
Type of company: Usage-based auto insurance carrier
Amount: $51 million, Series C
Key investors: Redpoint Ventures, Scale Venture Partners, Ribbit Capital, Silicon Valley Bank Capital Partners
Amount: $51 million, Series C
Key investors: Redpoint Ventures, Scale Venture Partners, Ribbit Capital, Silicon Valley Bank Capital Partners
Golia, Nathan
Talage
Type of company: Digital distribution for small business insurance
Amount: $1.5 million, Series A
Key investors: Merus Capital, Battle Born Ventures, Acceleprise, Western Technology Investment
Amount: $1.5 million, Series A
Key investors: Merus Capital, Battle Born Ventures, Acceleprise, Western Technology Investment