Funding

The Dutch company will use some of its surplus cash to add scale organically to the global auto business, Chief Executive Officer Bob Van Dijk said in an interview.

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.

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.

Despite greater awareness of cyber threats to their systems and customer data, most firms aren't confident they have the resources needed to put up a proper defense.