Reinsurance News
funding
Evertas closes $14mn Series A round
14th December 2022
Crypto insurance company Evertas has announced the successful closure of a series A financing round. Led by Polychain Capital, the round raised $14 million, and in addition to a $5.8 million seed financing, this puts the company’s total outside investment at $19.8 million. In a press release, Evertas noted that it intends ... Read the full article
Singapore insurtech Igloo extends Series B funding round to $46m
30th November 2022
Singapore-based insurtech Igloo has announced that it has successfully raised an additional $27 million in its Series B extension led by the InsuResilience Investment Fund II, bringing a close to the funding round at $46 million. The InsuResilience Investment Fund II, initiated by German development bank KfW on behalf of the ... Read the full article
Cover Genius raises $70mn in Series D funding led by Dawn Capital
2nd November 2022
Global insurtech, Cover Genius has announced that it has raised $70 million in Series D funding in a round led by Dawn Capital, along with participation from new investor, New York-based Atlas Merchant Capital, and existing investors, including GSquared and King River Capital. The raise will assist in the insurtech’s rapid ... Read the full article
ChAI secures seed round funding to expand into AI insurance services
19th October 2022
AI-driven commodity intelligence company, Commodities AI Ltd (ChAI), has completed a seed round to help expand its industry-leading services into new markets, providing real-time commodity price forecasts to new global audiences, including raw-material businesses and key supply chain providers. The funding announcement marks an important milestone in ChAI’s product development, as ... Read the full article
Insurtech Otonomi raises $3.4m to build blockchain-powered parametric cargo platform
18th October 2022
Insurtech and parametric cargo insurance platform, Otonomi has announced that it has closed a $3.4 million funding round to build a first-to-market blockchain-powered parametric cargo platform. The funding round was led by ATX Ventures, followed by GSR Ventures, Greenlight Re Innovations, Punja.VC, Altari Ventures, Soundboard Venture Fund, Blackhorn VC, Bering Waters, ... Read the full article
SecondSight launches AI-driven platform for underwriting amid funding round
14th October 2022
SecondSight has announced the launch of an AI-driven platform for "inside-out" underwriting, alongside an "oversubscribed" $3 million seed round of financing led by Tim Crown (co-founder of Insight Enterprises) with participation from Indiana Ventures, Cook Ventures, and Flywheel Fund, among other investors. SecondSight states that its product is the insurance industry’s ... Read the full article
Elpha Secure raises $20m in Series A funding led by Canapi Ventures
7th October 2022
Elpha Secure Technologies has completed a $20m Series A funding round led by Canapi Ventures, with participation from Stone Point Ventures, AXIS Capital, State Farm Ventures, The Hartford STAG Ventures, Fermat Capital Management, and EOS Venture Partners. Elpha Secure provides a cyber protection solution for small and midsize businesses that marries ... Read the full article
Blockchain-powered reinsurer Re raises $14 million seed round
3rd October 2022
Re, a blockchain-powered reinsurance company, has raised $14 million in seed-round funding to build a decentralised system for investors which will allow them to gain exposure to “a massive and uncorrelated asset class” that is insurance premiums. Tribe Capital, Defy, Exor, Stratos, Framework, Morgan Creek Digital and SiriusPoint participated in the ... Read the full article
PlanetWatchers raises $11m funding for expansions plans
28th September 2022
Crop monitoring and technology company, PlanetWatchers, has raised $11 million as part of its Series A funding round, as part of the company’s expansion plans. The company uses advanced machine learning to support crop insurers and the agricultural industry in verifying cover crops, tillage, planting dates, acreage, crop classification and weather ... Read the full article
Fintech startup Inclined raises $15m in Series A funding round
27th September 2022
Fintech startup Inclined has announced it has raised $15m in a Series A funding round. HSCM Ventures led the round, with participation from Anthemis Group alongside several new and existing investors. The company states that the funding will fuel its mission to democratise a $150bn market by helping consumers significantly enhance ... Read the full article
Stere closes $5m funding seed+ round with Vita Capital
26th September 2022
Stere, a capacity trading platform that specialises in capacity sourcing and unique deal capabilities for embedded insurance partners and MGAs, has announced that it has closed a $5 million funding round with Vida-Capital. The investment allows for Stere to further expand its capacity trading platform, a one-stop-shop for businesses to build ... Read the full article
Pie Insurance raises $315mn Series D round of funding
22nd September 2022
Pie Insurance, a leading tech-enabled provider of workers’ compensation insurance to small businesses, has raised a $315 million Series D round of funding. The round was led by Centerbridge Partners and Allianz X, the digital investments arm of Allianz Group. At the same time, White Mountains Insurance Group also joined as a ... Read the full article
Fairmatic raises $42m in funding round, Aquiline among leaders
2nd September 2022
Following its latest Series A funding round, insurtech company Fairmatic has raised a total of $42M from Aquiline Technology Growth, Foundation Capital, and other insurtech, fintech and technology angel investors. The funding comes at a time of development for Fairmatic, having emerged from stealth with a C-suite of insurance and technology ... Read the full article
Erie Insurance launches venture capital fund to drive innovation
26th August 2022
Erie Insurance, an auto, home, business and life insurer has announced the establishment of Erie Strategic Ventures to support visionary entrepreneurs. The fund follows Erie’s commitment in supporting entrepreneurship and delivering innovative products, services and experiences to its customers and network of independent agents. In a press release, it notes that Erie Strategic ... Read the full article
Insurtech startup Ledgebrook raises $4.2m in seed funding
18th August 2022
Boston-based insurtech, Ledgebrook, has announced that it has raised $4.2M in seed funding to build out its operations with the goal of writing its first policies in Q4 of 2022. The company plans to start by launching a broad-appetite E&S GL product to establish its value prop to wholesale brokers ahead ... Read the full article
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