Top insurtech funding rounds, August 2024

September 9, 2024 5:30 AM

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There were about 35 funding events in the insurtech sector between August 1 and August 31, 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 July, click here. These updates will continue monthly.

EvolutionIQ

$20,151,089.00, Venture Series Undisclosed, August 14

Type of company: Claims guidance backed by AI

Investors: First Round Capital, Principal Financial Group, Sedgwick Claims Management Services, Plug and Play, FirstMark

Sepio

$11,000,000.00, Series B, August 13

Type of company: Provider of asset risk management solutions for a variety of industries

Investors: Tau Capital, Stanford University, Citi Ventures, Munich Re Ventures, Hanaco Venture Capital, U.S. Venture Partners

"This funding will allocate additional resources as we see the continued growing traction for global players across multiple verticals and territories," said Yossi Appleboum, CEO of Sepio. "These organizations are instrumental in our recently formed Customer Advisory Board (CAB), providing invaluable insight and feedback, to influence and validate our exciting product roadmap."

Chaiz

$3,964,996.00, Seed, August 1

Type of company: Online marketplace for vehicle protection

Investors: ResilienceVC, Automotive Ventures, Everywhere Ventures, FJ Labs, Calm Company Fund, SpringTime Ventures

"We believe everyone should have breakdown protection for their car after their factory warranty expires," remarked Ryan Hartman, Co-Founder and CMO of Chaiz, in a press release. "Historically, this product has been marketed unethically with unnecessarily high prices. We've changed that. Using Chaiz, users can get transparent prices, research several providers, and buy online hassle-free once they find the perfect plan for their vehicle and budget."

The Zebra

$2,100,000.00, Venture - Series Undisclosed, August 6

Type of company: Car and home insurance comparison platform

Investors: Accel, Innovation Works, Floodgate, Silverton Partners, AlphaLab