|A curated mix of recent insurance financings, exits, partnerships, and perspectives.
Root Insurance raises $350M. The Columbus-headquartered usage-based auto insurer raised the new financing round at a $3.65B valuation from investors including DST Global and Coatue Management.
Ethos raises $60M. The San Francisco-based life insurance managing general agent is now valued between $400M-$500M. GV led the round.
Kin Insurance raises $47M. The Chicago-based startup plans to launch an insurance carrier in Florida, the Kin Interinsurance Network.
Zendrive raises $37M. The San Francisco-based startup has reportedly analyzed 180B miles of driving data and recently launched FullStop, a mobile risk solution for auto insurers to help track road violations. XL Innovate led the round.
Xiaobangtuzi raises $28.4M. The Beijing-based startup provides digital education courses and consulting services for wealth management and insurance. Investors include Tencent, Sequoia Capital China, and RGAx.
Sidecar Health raises $18M. The El Segundo-based startup launched health insurance plans in Texas and offers payment cards to pay for care upfront. Investors include GreatPoint Ventures and Morpheus Ventures.
DealerPolicy raises $16M. The Colchester-based startup provides a digital insurance sales platform for auto retailers.
Archipelago Analytics raises $13M. The San Francisco-based startup provides technology to capture and move critical data through the insurance value chain. Investors include Canaan Partners and XL Innovate.
Hedvig raises $10.4M. The Stockholm-based startup has 15,000 property insurance customers in Sweden and is planning to expand into additional categories. Obvious Ventures led the round.
The CareVoice raises $10M. The Shanghai-based startup provides digital health software to 15 insurance companies. Investors include DNA Capital and Lun Partners.
AgencyKPI raises $3M. The Austin-based startup provides a business intelligence platform to manage insurance data for agencies
Nuanwha Technology raises seed funding. The Shanghai-based startup, incubated by Zhong An Insurance, provides claims, risk control, and systems software to health insurers. Investors include Sequoia Capital China and Kuanping Capital.
Roper Technologies acquires iPipeline for $1.63B. iPipeline provides software solutions to 150 carriers in the life insurance industry as well as 1,350 distributors and financial institutions.
Legal & General acquires MyFutureNow. Dublin-based MyFutureNow provides a service for customers to trace lost or forgotten pension pots from past employers.
Liberty Mutual Strategic Ventures, State Farm Ventures, The Hartford invest in Homee. The Tampa-based startup provides an on-demand property maintenance service via mobile app.
Northwestern Mutual Future Ventures invests in Atonarp. The Tokyo-based firm plans to use its new funding to support prototyping and commercialization of its mass spectrometry and optical spectroscopy instruments in clinical diagnostics.
Ping An invests in H20.ai. Over 18,000 organizations use H2O's data science tools including Nationwide and Aetna.
Allianz X invests in 99.co. The Singapore-based startup provides a map-based property search engine for housing renters, buyers, and property agents.
Singapore Business Review
News and partnerships
Tesla launched a car insurance product, then spent the next 24 hours fixing it. Owners were quoted higher-than-expected rates before the website went down.
Swyfft partners with Sheltr. The partnership between the home insurance MGA and the home maintenance startup will offer its home insurance customers in San Francisco and Houston two free home maintenance checkups per year.
Root partners with Owlcam, Verisk Data Exchange. The partnerships will give the car insurer access to more driving data and allow select customers to test Owlcam's video security and safety system to streamline insurance claims.