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Dayforward Raises $25M And Acquires Commercial Travelers Life Insurance Company To Expand Life Insurance Offering Nationwide

Jan 23, 2023•over 2 years ago

Amount Raised

$25 Million

New York

Investors

Munich Re VenturesJuxtaposeHscm VenturesAxa Venture PartnersCommercial Travelers Life Insurance Company

Description

Dayforward, the first digital life insurance company built for modern families, announced today its acquisition of Commercial Travelers Life Insurance Company, a storied insurance carrier founded in 1883. The acquisition coincides with launching Dayforward's innovative life insurance solution in 38 states plus Washington, D.C., with continued national expansion throughout 2023. The company also announced a $25M round of funding led by AXA Venture Partners, with participation from existing investors including HSCM Ventures, Juxtapose, and Munich Re Ventures.

Company Information

Company

Dayforward

Location

New York, United States

About

Dayforward is a digital life insurance solution built for modern families. As a full stack carrier, Dayforward manufactures and distributes financial security products that are easier to understand and buy. The company was founded in 2020 with investment backing from AXA Venture Partners, HSCM Ventures, Juxtapose and Munich Re Ventures; all policies sold by Dayforward are reinsured by Munich Re Life US.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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