18 notable insurtech funding deals (Updated)

Published
  • July 16 2018, 5:14am EDT

Carrier venture arms and Silicon Valley stalwarts alike continue to pour money into startups promising to revolutionize the insurance sector. Digital Insurance has compiled a list of some notable investments from the first half of 2018.

Metromile

Type of company: Pay-per-mile usage-based insurance

Amount: $62 million, Series E

Key investors: Tokio Marine Holdings, Intact Financial

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Cogito

Type of company: AI-assisted sales and service

Amount: $37 million, Series C

Key investors: Goldman Sachs Growth Equity, Salesforce Ventures, OpenView

League

Type of company: Digital benefits administration

Amount: $47 million, Series C

Key investors: TELUS Ventures, Wittington Ventures, OMERS, Infinite Potential Group, RBC Ventures, Real Ventures and BDC Ventures.

Acko

Type of company: Multiline digital distribution

Amount: $12 million

Key investors: Amazon

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At-Bay

Type of company: Cyber insurance

Amount: $13 million, Series A

Key investors: Khosla Ventures, Lightspeed

Cape Analytics

Type of company: Property and roof imagery and analytics

Amount: $17 million

Key investors: XL Innovate, The Hartford, Nephila, CSAA Insurance Group, Cincinnati Financial, State Auto Labs Fund

Clara

Type of company: Claims analytics

Amount: $11.5 million, Series A

Key investors: Oak HC/FT

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Drone Base

Type of company: Drone-as-a-service

Amount: $12 million, Series B

Key investors: Union Square Ventures, Upfront Ventures, DJI, Hearst Ventures, Pritzker Group

Ethos

Type of company: Digital term life insurance platform

Amount: $11.5 million

Key investors: Sequoia Capital, Roc Nation, Downey Ventures, Durant Co., Family Circle

Fabric

Type of company: Life insurance

Amount: $10 million, Series A

Key investors: RGAx, Bessemer Venture Partners, Silicon Valley Bank

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Hippo

Type of company: Next-generation home insurance carrier

Amount: $25 million, Series B

Key investors: Comcast Ventures, Fifth Wall

iBeat

Type of company: Wearable health technology

Amount: $5 million plus

Key investors: SCOR Life & Health, Transamerica, Kairos, 8VC, City Light Capital, Plug and Play Ventures, ChinaRock Capital Management

Next Insurance

Type of company: Digital commercial insurance distribution

Amount: $83 million, Series B

Key investors: Redpoint Ventures

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Planck Re

Type of company: AI-based underwriting for commercial insurers

Amount: $12 million, Series A

Key investors: Arbor Ventors, Viola FinTech, Eight Roads

PolicyBazaar

Type of company: Insurance aggregator

Amount: $200 million

Key investors: SoftBank

Rein

Type of company: Analytics for emerging risks

Amount: $7.3 million

Key Investors: Liberty Mutual Strategic Ventures, Kiplin Capital

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Root

Type of company: Usage-based auto insurance carrier

Amount: $51 million, Series C

Key investors: Redpoint Ventures, Scale Venture Partners, Ribbit Capital, Silicon Valley Bank Capital Partners

Talage

Type of company: Digital distribution for small business insurance

Amount: $1.5 million, Series A

Key investors: Merus Capital, Battle Born Ventures, Acceleprise, Western Technology Investment