Capital markets

Amplify, a digital life insurance platform, is focused on helping customers build wealth through permanent life insurance.

The fintech startup is working with advisers on a potential deal and is in early talks with Catcha Investment Corp., the special purpose acquisition company set up by internet entrepreneur Patrick Grove, said the people, who asked not to be named as the process is private.

The three winning teams will split $200,000 in prizes. Eligible insurtechs include those that had less than $250,000 in revenue last year.

More seed and pre-seed rounds in the final month of the year.

In case you missed it, insurtech -- technology developed to improve and transform the insurance industry -- is having a bit of a moment. Forrester recently reported record-breaking funding for insurtechs, closing Q3 at $15 billion - more funding than in 2019 and 2020 combined - with more deals anticipated by the end-of-year.

During, “The View from Venture Capital,” at the Digital Insurance DIGIN conference, Dec. 10, three experts involved in venture capital firms discussed what they look for when funding a company and what’s ahead for the industry.

As the wave of SPAC mergers crested in the past two years, startups that chose this path found it difficult to keep up with more established companies and investor expectations. The insurtech companies that went this route are not exempt from experiencing that strain.

There were an equal amount of rounds of more than $20 million and seed or pre-seed rounds.

Addition Capital, Coatue Management and serial entrepreneur Elad Gil led the funding round in the Mountain View, California-based company, now worth $3.6 billion -- nearly triple the valuation from another round last year.

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.

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.

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.

Its the biggest investment the vehicle has made to date in South African startups.

There were about 36 funding rounds in the insurtech sector in July, according to a review by Digital Insurance and with data from Crunchbase.

Amount raised in this time period was more than all of 2018.

A selection of 36 rounds recorded in the U.S., Canada and Europe.