Insurtech Sector Sees Active November with 40 Funding Events totale

In November 2024, the insurtech sector saw vibrant funding activity, with notable investments like Clearcover's $44M and Federato's $40M fueling innovation.

In a recent report from Digital Insurance, the insurtech landscape showed significant activity, with around 40 funding events recorded in November 2024 alone.

This report focuses on notable funding rounds specifically involving insurtech and property & casualty firms that fall under venture-capital financing.

It’s worth noting that the overall figures also include other types of investments, such as private equity.

Recent Funding Events

This analysis draws on data compiled from a variety of sources, including Crunchbase, while insights from venture capitalists were obtained through company press releases.

For those interested in past funding events from October, a link is provided for further details.

Monthly updates will continue to outline these developments.

  • CLEARCOVER
    • Funding Secured: $44 million (under undisclosed terms) on November 6
    • Description: This company is redefining automotive insurance through a fully digital platform.
    • Investment Partners: Key backers include 500 Global, Lightbank, Silicon Valley Bank, Cox Enterprises, and IA Capital Group.
  • FEDERATO
    • Total Raised: $40 million (Series C) on November 20
    • Focus: An innovative platform leveraging AI for RiskOps.
    • Investors: StepStone Group, Pear VC, Emergence, Caffeinated Capital, and Emergence Capital supported this round.
  • OYSTER
    • Funding Raised: $5 million (Series D) on November 11
    • Sector: Human resources solutions for global employment.
    • Investors Include: ServiceNow Ventures, Kima Ventures, Base10 Partners, Emergence, Georgian, and Stripes.
  • WALLIT
    • Amount Raised: $1.375 million (under undisclosed terms) on November 15
    • Type of Company: A digital wallet and employee benefits service.
    • Backer: MAGIC Fund.
  • FRIENDLY
    • Funding Total: $1.25 million (Seed) on November 19
    • Business Focus: Delivering AI-driven solutions to streamline workflows within the insurance and financial sectors.
    • Championing Investor: Global Insurance Accelerator.

Sector Highlights

This overview highlights the vibrant funding activity in the insurtech sector for November, reflecting a commitment to innovation and an expanding investment landscape.

Source: Dig-in

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