There were about 60 funding events in the
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 September, click
Pinpoint Predictive
- $23,000,000.00, Series A, October 8
- Type of company: Uses big data to give p&c insurers loss predictions and risk scores
- Investors: VC Markd, Guidewire Software, Jazz Venture Partners, Seraph Group, Navigate Ventures, LLC
"We are thrilled by the overwhelming response and confidence shown by investors who share our vision of revolutionizing the insurance industry through innovative AI solutions," said Scott Ham, CEO of Pinpoint Predictive, in a press release. "This milestone is a testament to the amazing team we have here at Pinpoint as well as a recognition that Pinpoint is providing a game-changing platform to empower our clients to improve profitability and better serve their stakeholders. With this new funding, we are not just forecasting trends; we are setting them."
MGT Insurance
- $20,000,000.00, Venture - Series Undisclosed, October 4
- Type of company: Property and liability insurance for business owners
INSHUR
- $19,000,000.00, Venture - Series Undisclosed, October 16
- Type of company: Digital auto insurance provider
- Investors: Viola Growth, Munich Re Ventures, MS&AD Ventures, Jerusalem Venture Partners (JVP), MTech Capital
"The future is on-demand. In just a few years, the way we access services like taxis and the way we purchase our groceries and pizzas has changed forever," Dan Bratshpis, CEO and Co-Founder at INSHUR, said in an announcement. "In fact, our report found that nearly half of on-demand drivers had doubled their hours in 12 months. As the on-demand economy gains momentum around the world, it's our mission to support the world's biggest platform and insurance partners in ensuring that insurance coverage is fair and accessible for on-demand economy drivers."
DeNexus
- $17,500,000.00, Series A, October 16
- Type of company: End-to-end cyber risk management specialized for industrial enterprises
- Investors: Punja Global Ventures, AXA XL, HCS Capital, VentureOut, Vestech Partners
"This investment is a strong vote of confidence in DeNexus' vision and our ability to address the critical cybersecurity challenges faced by industrial enterprises and physical critical infrastructures," said Jose Seara, CEO of DeNexus, in a press release. "We're poised to expand our go-to-market team, enhance our product offerings, and continue delivering on our commitment to provide a full-stack, end-to-end cyber risk management solution to our customers."
COVU
- $12,500,000.00, Series A, October 10
- Type of company: Combines AI technology with human insights to handle the business side of insurance operations
- Investors: Benhamou Global Ventures, UpHonest Capital, Plug and Play, Recursive Ventures, Markd
"We are committed to providing insurance agencies with AI-native solutions that enhance both efficiency and trust, and now we are thrilled to partner with investors who understand the disruptive potential of AI in transforming the insurance industry," said Ali Safavi, Co-Founder and CEO of COVU, in a statement. "This funding enables us to double down on our investment in AI-native services and to help our agency partners scale, optimize their operations, and deliver the superior customer experiences their clients expect."
Homee
- $12,000,000.00, Series C, October 29
- Type of company: Insurtech that streamlines the property claims management process
- Investors: W.R. Berkley Corporation, Sure, Tech Square Ventures, Desjardins Venture Capital, State Farm Ventures, Florida Funders
"We're thrilled to have W.R. Berkley Corporation as both an investor and strategic partner. They will bring significant value to our shareholders, and we're excited to have Michael Nannizzi join our Board of Directors," noted Doug Schaedler, CEO of HOMEE, in an announcement. "Our AI-driven Smart-Claim technology continues to expand the scale for our business while delivering higher claim repair quality and cycle times for both the carrier and policyholder. Our technology automatically matches the right claim with the right service repair professional within minutes, driving an elevated policyholder experience. For the third quarter of 2024, 9 out of 10 claim assignments were successfully matched to a service repair professional in under 3-minutes."
Herald
- $12,000,000.00, Series A, October 16
- Type of company: Digital infrastructure for commercial insurance using a single API
- Investors: Lightspeed Venture Partners and Brewer Lane Ventures, Afore Capital, Underscore VC, Charley Ma
"Herald's work in building an open data standard is a crucial step toward streamlining the entire industry," said Rohan Malhotra of Brewer Lane Ventures in a news release. "By standardizing data flows between brokers and carriers, Herald is making insurance processes faster, more efficient, and more accurate. We're proud to co-lead this round and support this transformative vision."
Delos Insurance
- $9,000,000.00, Series A, October 31
- Type of company: Home insurance solutions for catastrophe prone areas
- Investors: HSBC Asset Management, Blue Bear Capital, IA Capital Group, DNX Ventures, Futureland Ventures, Gallatin Point Capital
"We are enjoying working with a great, supportive group of investment partners, as we embark on the next phase of the Delos journey. We are looking to provide insurance outside California and develop new products to help people obtain the affordable insurance they deserve," stated Kevin Stein, CEO Delos Insurance Solutions, in a news release. "We scaled back our funding requirements for this round, despite being oversubscribed. This is due to our better-than-planned growth, market leading loss ratios, and the positive response from California homeowners."
Flueid
- $8,300,000.00, Venture - Series Undisclosed, October 31
- Type of company: Title data and intelligence platform optimizing the residential real estate transaction workflow, including underwriting
- Investors: LiveOak Ventures, Silicon Valley Bank, Commerce Ventures, Eastward Capital Partners, Aquiline Technology Growth
"We built Flueid on the belief that data must be made available to not only identify title risk but also help streamline, harmonize, and increase transparency for everyone involved in a transaction," said Peter Bowman, Flueid's Co-Founder and CEO, in a statement. "Our technology has gained strong momentum in the title industry and is widely accepted by top insurers who specialize in understanding and mitigating title risks. But we're not stopping there. Traditionally, title is verified days into the mortgage origination or servicing process. Improving understanding and visibility into title risks earlier in the process is critical, as it will foster greater integration and connectivity between mortgage originators and title providers and deliver a more streamlined experience. With this funding and the collaboration of our investment partners, we're confident we can establish [verification of title] as a standard verification service across all transactions."
Stockguard
- $5,999,999.00, Venture - Series Undisclosed, October 15
- Type of company: Risk management solutions for the livestock industry
- Investors: Ag Startup Engine, Bienville Capital
Stream
- $5,300,000.00, Seed, October 8
- Type of company: AI medical document management solutions for the workers' comp industry
- Investors: U.S. Venture Partners, Y Combinator, Spark Capital, TTV Capital, Acrew Capital, Nevcaut Ventures
"The market for Cloud Security solutions is still in its infancy with eighty-nine percent of organizations planning to implement or enhance their Cloud Detection and Response capabilities," said Jacques Benkoski, General Partner at U.S. Venture Partners, in a press release. "We have invested in many of the top security companies and our diligence has clearly demonstrated the need for a new real-time cloud security solution. We are excited to invest in a fundamentally different and proven solution that helps SecOps teams with a critical alternative to 'point in time' cloud security solutions that create exploitable security gaps that cost enterprises millions to investigate and remediate."
Avibra
- $3,159,994.00, Venture - Series Undisclosed, October 3
- Type of company: Benefits platform geared toward hourly workers
- Investors: PruVen Capital, Alpha Edison, Brewer Lane Ventures, Comcast Ventures
ClaimSorted
- $3,000,000.00, Pre-Seed, October 12
- Type of company: Digital claims TPA employing sophisticated automation
- Investors: firstminute capital, Y Combinator, Precursor Ventures, Transpose
"ClaimSorted is bringing modern software to a major segment of the insurance industry that is yet to undergo significant digital transformation and is dominated by large services companies," said Sam Endacott of Firstminute Capital.
Agentech
- $3,000,000.00, Seed, October 21
- Type of company: AI 'service-as-a-software' solution streamlining the claims cycle
"This successful seed round demonstrates strong investor confidence in our leadership and Agentech's ability to fundamentally transform the insurance claims process," said Alex Pezold, cofounder and CEO of Agentech, in a statement. "Our AI solutions are already delivering measurable results, with design partners seeing an impressive improvement in productivity, cost efficiency, and customer satisfaction."
