Reinsurance News
funding
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
JC Flowers completes fifth private equity fund with more than £1.1bn in commitments
4th August 2022
JC Flowers & Co. LLC, a leading private investment firm dedicated to investing globally in the financial services industry, has completed fundraising for its fifth private equity fund - JC Flowers V LP with more than $1.1 billion in commitments. Simpson Thacher & Bartlett LLP served as legal adviser for the fund. Limited partners in JCF V represent ... Read the full article
Insurtech Gateway completes first close on Seed Fund II
22nd July 2022
Insurtech Gateway, an independent insurtech incubator authorised by the FCA, has announced the first close of Seed Fund II. According to the announcement, this funding will allow the Gateway to support another 20 teams over the next 4 years from pre-seed to Series A. Insurtech Gateway was founded in 2016 with a ... Read the full article
Cinven raises €1.5bn for its first dedicated financial services fund
12th July 2022
International private equity investment group, Cinven, has closed its inaugural strategic financials fund (SFF) at €1.5 billion. The SFF builds on Cinven’s leading financial services investment platform in Europe with an investment strategy focused on areas where the company has developed significant investment expertise, such as life and non-life re/insurance, asset-backed ... Read the full article
Coalition raises $250m in Series F funding to support its cyber insurance solution
8th July 2022
Coalition has announced that it has raised an additional $250 million in Series F funding to accelerate its rapid growth, power international expansion, as well as broaden the services it offers to help organizations manage digital risk. The funding round closed in June, with participation from Allianz X, Valor Equity Partners, ... Read the full article
Ledger Investing raises $75mn in Series B Funding to democratize Insurance Risk Capital
22nd June 2022
InsurTech start-up, Ledger Investing has announced that it has raised $75 million in Series B funding led by WestCap, with participation from Teachers’ Venture Growth and Intact Ventures, and previous investors: SignalFire, MassMutual Ventures, Allegis Capital, and Accel. Ledger Investing will use the funds to accelerate revenue growth across its insurance-linked ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
