|A curated mix of recent insurance financings, exits, partnerships, and perspectives.
Gusto raises $200M Series D. The HR, payroll, and benefits automation platform crossed 100K small businesses and plans to expand its fintech features and insurance benefits distribution.
Hippo raises $100M Series D. The digital home insurance startup says it has crossed $150M in total premiums and is valued at $1B. Bond Capital led the round.
SmartHR raises $51M Series C. The Tokyo-based cloud HR automation platform announced its insurance subsidiary SmartHR Insurance in January. New investors include All Star SaaS Fund and Light Street Capital
BriteCore raises $47.5M. The Springfield-based company provides a core software platform for 50+ P&C insurers, MGAs, and startups. Warburg Pincus led the investment.
Pact Insurance raises $7.4M. The San Francisco-based auto insurance MGA for State National raised funds from investors including Maniv Mobility. Pact partnered with JLT Re to develop digital insurance products for mobility risks in Dec. 2018.
Coverfox adds $5.9M. The India-based car insurance comparison startup was rumored to be in talks with Paytm for a potential acquisition. Existing investors include IFC, Accel India, Aegon, and Transamerica Ventures.
Didi Chuxing takes stake in Hyundai Insurance China. Dirun Technology, a subsidiary of Didi Chuxing, will hold 32% of the P&C insurer and will push Didi further into the insurance industry. Other new investors include Sequoia Capital China and Legend Holdings.
RiskGenius raises Series B. The startup provides natural language tools for improving the quality and accuracy of insurance policies and works with insurers including Everest, Liberty Mutual, and FM Global. Hudson Structured led the round.
SafetyWing raises $3.5M. The Palo Alto-based startup focuses on medical travel insurance for workers outside their home country. Investors include byFounders, CreditEase Fintech Fund, and DG Incubation.
GI Partners acquires Insurity. Insurity provides policy admin, claims, billing, and data analytics software to 200+ insurance clients. Current investors include General Atlantic, TA Associates, and Genstar Capital.
Zurich acquires Dentolo. The deal will help Zurich's direct-to-consumer brand DA Direkt expand to dental supplement insurance.
DroneBase acquires Betterview's drone clients. The deal will see Betterview solely focus on its imagery-based risk management platform.
MassMutual Ventures SEA invests in Aspire. The Singapore-based startup helps SMEs in Southeast Asia acquire working capital.
Allianz X, Prudential invest in Halodoc. The Jakarta-based startup operates a mobile platform that connects patients with doctors and pharmacies across Indonesia. Halodoc also provides pharmacy delivery and home lab services.
Tech in Asia
Munich Re Ventures, Centene invests in Babylon Health. The London-based startup, which provides virtual medical consultations, was valued at $2B in the new round.
Allianz X invests in Arabesque. The Frankfurt-based startup provides data on ESG metrics to institutional investors, corporations, and consultancies.
AXA Venture Partners, Guardian Strategic Ventures invest in Jobble. The Boston-based startup provides a marketplace for gig workers to connect with companies offering flexible work opportunities.
Built in Boston
Greenlight Re Innovations invests in Cove. The New Zealand-based personal lines MGA operates in car and phone insurance.
CSAA partners with Cape Analytics. TCSAA is also a strategic investor in the property analytics startup.
Aon partners with Bunker. The partnership provides Aon with access to Bunker's compliance platform and Live Certificate of Insurance, while Bunker gains access to Aon's enterprise network.