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Bamboo Completes First Close Of Series A Funding Raising $16 Million
09/19/22, 8:00 PM
Location
Money raised
$16 million
Industry
insurance
Round Type
series a
Bamboo Ide8 Insurance Services, LLC ("Bamboo"), a reimagined insurance company with a commitment to simplicity, transparency and customer advocacy, announced today the $16 million close of its Series A round. Since launch, Bamboo has raised $75 million in financing to support organic growth in California, the build out of a retail agency and the launch of a Bermuda domiciled captive insurance entity. The round was led by Eos Venture Partners, a firm with deep insurance industry expertise focused on InsurTech investing, with participation from existing investors.
Company Info
Location
midvale, utah, united states
Additional Info
After successfully refining our underwriting model and distribution capabilities over the past 3 years in the California market, Bamboo will now embark on a product and geographic expansion plan while remaining true to our profitable underwriting philosophy." Bamboo was founded in 2018 with a focus on serving the California property market with homeowners, dwelling fire and other ancillary products. Today, Bamboo has over 75,000 policyholders and $105 million of managed premiums. Bamboo is committed to leveraging technology and data to meet the evolving needs of customers, and ultimately transform the insurance industry by making it simple, transparent and customer focused. Bamboo has demonstrated strong growth coupled with profitable underwriting that will ultimately differentiate InsurTech winners." About Bamboo Ide8 Insurance Services, LLCBamboo is a reimagined insurance company offering flexible and transparent insurance options through its managing general underwriter, retail agency and captive insurer.
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