Finance

The funding round was led by AIA Insurance Inc. as Tiki looks to expand into life insurance and plans a U.S. initial public offering.

There were nine rounds of more than $20 million this month.

A crucial point that many businesses engaged in the B2B sharing economy are increasingly aware of is that engagement often carries considerable liability risk, which is why it is of utmost importance for businesses to insure against this risk with robust verification services.

The Palo Alto, California-based company is now valued at $900 million, according to people with knowledge of the matter.

Australian insurance startup Cover Genius Pty Ltd. boosted its valuation to A$1 billion ($729 million), after raising A$100 million from investors including G Squared and Japanese insurer Sompo Holdings Inc.

Thiel invested more than $20 million in HySpecIQ LLC, the startup said. The cash will enable the Herndon, Virginia-based company to build and launch two satellites with cameras featuring advanced sensors to peer through solid objects in early 2023.

Truepic Inc., which helps companies like banks and insurers fight fraud by verifying images, raised $26 million in a funding round led by Microsoft Corp.’s M12 venture capital arm.

In other news: Cowbell Cyber releases API; Discount Tire, Motorq offer data analytics platform; and Roamly announces new hire and expansion plan.

There were about 12 funding rounds in the insurtech sector in August 2021, according to a review by Digital Insurance and with data from Crunchbase.

DealerPolicy, which functions as an insurance agency in the lower 48 states, connects car buyers with insurance quotes.