Top insurtech funding rounds, April 2024

May 6, 2024 5:30 AM

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There were about 39 funding events in the insurtech sector between April 1 and April 30, 2024, according to a review by Digital Insurance. What follows is a selection of these, focusing on those in the insurtech and property & casualty sectors that are part of the venture-capital financing model. (Other funding events, such as private-equity infusions, are included in the overall count.)

A portion of the data was sourced from Crunchbase. Other information, including quotes from investing VCs, comes from company announcements. For our previous edition, which covered the month of March, click here. These updates will continue monthly.

Arbol

$60,000,000.00, Series B, April 30

Type of company: Insurance marketplace for climate risk

Investors: Giant Ventures, Opera Tech Ventures, Launch NY, Mubadala Capital Ventures, Space Capital, Ascend Venture Capital

"While climate change is more and more tangible, the need for hedging solutions that are scalable and economically sustainable is becoming key," said Thibaut Schlaeppi, managing director of Opera Tech Ventures. "Leveraging insurance and capital markets offers Arbol's clients a pivotal solution to build the financial resilience they need."

Rainwalk Technology

$4,000,000.00, Seed, April 23

Type of company: Pet insurance managing general agent

Investors: ManchesterStory Group, ManchesterStory Group

"By prioritizing thoughtful product design, seamless pet insurance integrations and exceptional operations support, our team has demonstrated continued channel growth opportunities that are scalable and cost-effective," said Joshua Snead, founder and CEO of Rainwalk Technology, in a statement. "We're relentlessly committed to being an industry-leading pet health insurtech, and we're thrilled to grow our capabilities alongside new investors who share our vision."

Powerbroker AI

$1,500,000.00, Pre-Seed, April 16

Type of company: AI insurance specialist for P&C agencies