Insurance coverage brokerage platform Policygenius introduced the closing of $125 million of recent development capital, bringing the insurtech’s complete funding to greater than $250 million.
The platform, launched in 2014, permits prospects searching for life, incapacity, residence and auto insurance coverage to go looking and purchase insurance policies and handle their insurance coverage portfolios.
The corporate stated it’s going to use the brand new capital to proceed to spend money on the expansion of its core companies, in addition to new no-exam life insurance coverage choices and Policygenius Professional, which opens the life insurance coverage platform to business-to-business distribution companions.
Since 2014, it has offered $160 billion in all insurance coverage coverages, in line with the corporate. The company stated it wrote $40 billion of recent life insurance coverage protection, almost 70% greater than it wrote in 2019.
All present main traders participated within the newest spherical, together with KKR, Norwest Enterprise Companions, and Revolution Ventures. New traders included a number of of the most important annuity and life insurance coverage carriers in North America, like Brighthouse Monetary, International Atlantic Monetary Group, iA Monetary Group, Lincoln Monetary, and Pacific Life.
The funding of those carriers is along with funding by present traders that included AXA Enterprise Companions and MassMutual Ventures.
Additionally, as a part of the financing spherical, ORIX Corp. USA’s Development Capital group offered a brand new credit score facility for the corporate to assist finance its development, and Policygenius refinanced its present senior mortgage facility with JPMorgan Chase.
Policygenius Inc., a Delaware company with its principal place of job in New York, New York, is a licensed unbiased insurance coverage dealer.
Customers can store for insurance policies from prime insurers together with Allstate, Vacationers, Nationwide, Liberty Mutual, Progressive, AIG, Chubb, Hippo, MetLife, Prudential, Lincoln Monetary and Pacific Life.
Gamers Well being Raises $28 Million
Youth sports activities platform Gamers Well being has closed on a $28 million funding spherical to additional its mission of making safer and extra accessible environments for youths to play sports activities.
The know-how platform’s lead traders for this spherical of funding embrace three-time NBA Champion Andre Iguodala’s agency Mastry Ventures, and international specialty insurer and reinsurer SiriusPoint Ltd. As well as, present traders RPM Ventures, EOS Enterprise Companions, and Will Ventures additionally contributed to the newest spherical of funding.
Gamers Well being makes use of know-how, distinctive information insights, and threat administration, together with a set of insurance coverage merchandise, to assist defend younger athletes. Gamers Well being is presently working with organizations resembling U.S. Youth Soccer, NFL Flag Soccer, i9 Sports activities, and USA Cheer.
“Immediately greater than ever earlier than, psychological and bodily well being and security are paramount in sports activities, at each stage,” stated Iguodala of the Golden State Warriors. “Rising up enjoying a number of sports activities and now having youngsters of my very own, the following technology of athletes deserve a secure and accessible surroundings and expertise. I’m proud to spend money on Gamers Well being to make sure athletes really feel secure in each sports activities endeavor on and off the sphere and courtroom.”
Minneapolis-based Gamers Well being stated it’s going to use the funds to proceed to spend money on know-how and other people to broaden security and insurance coverage choices for sports activities organizations.
Present choices from Gamers Well being embrace teaching and workers credentialing; schooling and coaching; harm reporting and security scores; abuse reporting and investigations; and insurance coverage merchandise together with normal legal responsibility, accident & well being, skilled legal responsibility and property, in addition to claims reporting.
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