Venture capital

There were more than 30 funding events in the insurtech sector.

The startups will receive $50,000 in seed funding.

Digital Insurance spoke with Joel Albarella, founder and head of New York Life Ventures

The collapse of Silicon Valley Bank ratcheted up the financial pressure on startup companies that was already building. How can new entrants adapt?

Some tech startup clients had to scramble to retrieve money as the bank was closing. Many wonder which financial institution will fill the void. 

Panic withdrawals brought down a bank within two days, and many point to some venture capitalists, who urged companies to pull money out of the bank.

Some venture capitalists raced to assist in setting up temporary cash funds to help affected startups make payroll next week.

The funds were seen as safe havens when word spread that SVB's finances were worsening.

Being immersed in the startup ecosystem can be the answer to staying ahead of the innovation curve.

Most rounds were Series A or earlier.

Digital Insurance spoke with Alex Cook, head of strategic capabilities at New York Life Ventures.

The initiative enables insurtechs based in the U.K. to enter the U.S. insurance market through regimented programs and networking opportunities.

Backers of Chicago-based Buoyant include the Microsoft Climate Innovation Fund, Bank of America Corp., Xcel Energy Inc. and the Office of the Illinois State Treasurer, according to a statement.

Dayforward announced a $25 million Series B funding round.

Digital Insurance spoke with Adam Blumencranz, partner, Distributed Ventures

Managed by Mendoza Ventures, which backs companies with founders from minority and other diverse backgrounds in the financial-technology, artificial-intelligence and cybersecurity industries.

One company gathered $15 million in funding.

The value of new VC deals globally is down 42% in the first 11 months of this year compared to last, to $286 billion, according to research firm Preqin.

The rising frequency of down rounds -- whereby companies raise equity funding at reduced valuations -- has increased tech firms' appetite for debt, both conventional and convertible.

Findings from Embroker indicate that startup founders are shifting their focus to managing risks surrounding reputation and social responsibility.