Top insurtech funding rounds, January 2025

There were about 50 funding events in the insurtech sector between January 1 and January 31, 2025, 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 December, click here. These updates will continue monthly.

Matic Insurance

• $30,000,000.00, Venture - Series Unknown, January 7
• Type of company: Digital insurance agency for home and auto
• Investors: Vistara Growth, Plug and Play, Mr. Cooper Group, K Fund, Intuit, Fenway Summer Ventures

"Matic's technology platform is a natural extension for its distribution partners who are looking to provide customers with a more transparent and streamlined value-oriented experience while creating additional revenue streams," Neil Kenley, Principal at Vistara Growth, said in a news release. "With additional capital, the company is positioned to capture additional share of the personal lines' insurance market through a combination of its leading technology capabilities and unique embedded distribution model." 

Parsyl

• $20,000,000.00, Series C, January 8
• Type of company: Data-driven underwriter for supply chains
• Investors: The Lightsmith Group, GLP Capital Partners, GLP, Ascot Group, Flexport Ventures

"We are thrilled to have the support of The Lightsmith Group and our existing investors as we continue to grow and innovate," Ben Hubbard, Parsyl CEO and cofounder, said in an announcement. "This funding further validates our vision and will enable us to strengthen our team and our technology, while we expand our underwriting appetite, product offerings and geographies to impact more critical supply chains."

Jones

• $15,000,000.00, Series B, January 3
• Type of company: Insurance compliance software application for real estate and construction firms
• Investors: NewSpring, 500 Global, Khosla Ventures, Camber Creek, Ground Up Ventures

"COI and insurance policy verification is a highly manual and error-prone process, making it ripe for disruption through automation," Marc Lederman, General Partner at NewSpring Capital, said in a press release. "Jones AI solutions enable construction and real estate companies to scale their departments efficiently while mitigating legal and financial risks in today's highly litigious environment. As compliance becomes more complex and regulatory demands rise, Jones has ample room for continued expansion and represents exactly the type of growth-oriented business we seek for investment."

Rainbow

• $8,000,000.00, Series A, January 5
• Type of company: Insurtech offering policies for small businesses
• Investors: Zigg Capital, Caffeinated Capital, 8VC, Buckley Ventures, Habitat Partners

"As we continue to prove our thesis for scalable, software-driven-underwriting across a growing portfolio of specialized insurance programs, we're thrilled to be deepening our partnership with Zigg, a firm that shares our vision for a differentiated approach to profitable insurance underwriting with endless potential," Bobby Touran, CEO and co-founder of Rainbow, said in a statement. "This new capital will allow us to accelerate our expansion into additional verticals in service of growing demand from our agent and distribution partners, all while continuing to innovate our proprietary technology and attracting the best talent to our team."

XILO

• $7,200,000.00, Series A, January 22
• Type of company: Workflow automation designed for insurers
• Investors: Forum Ventures, Right Side Capital Management, New Stack Ventures, Altos Ventures, Navigate Ventures LLC

Frontier Risk

• $3,000,000.00, Seed, January 22
• Type of company: Insurtech tailored to cannabis businesses
• Investors: Casa Verde, Euclid Ventures, IA Capital Group, Bruce Macfarlane

"The first 18 months of Frontier Risk have proven the major need for specialty insurance solutions across cannabis and other regulated industries, and we're thrilled to announce today's funding with the continued support of existing investors and the addition of Illinois Casualty Company as a major strategic investor," said Frontier Risk's founder and chief executive, James Whitcomb.

Qumis

• $2,200,000.00, Pre-Seed, January 21
• Type of company: AI tool for complex insurance policy review
• Investors: Armory Square Ventures, Alumni Ventures, Forum Ventures, Grand Ventures, BrokerTech Ventures

"The Qumis team has already achieved extraordinary traction with minimal resources, demonstrating both their ability to execute and meet the immense demand for their platform," said Neenah Jain, partner at Armory Square Ventures. "We're thrilled to partner with Qumis to drive the digitization of a legacy industry that is ready for transformation."

Deep Vector

• $1,500,000.00, Seed, January 8
• Type of company: Document automation for industries including insurance
• Investors: Aperture Venture Capital, InsurTech NY

"Deep Vector's product Loss Scan breaks down the barriers that have locked away valuable claims data for decades. By automating the extraction of information from complex loss runs, we're giving insurance professionals access to previously buried insights in PDFs and spreadsheets,"  said Scott Knowles, co-founder of Deep Vector. "It's not just about saving time — it's about unlocking data that transforms how underwriters assess risk and brokers serve their clients. Only with the power of Deep Vector can brokers shift their time to true risk management and advisory instead of paperwork processing. By automating the tedious task of manual data extraction, we're liberating insurance professionals to focus on what matters — analyzing risks and providing strategic guidance to their clients."