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Next Insurance Raises New Funding And Doubles Valuation To $4 Billion In Six Months To Accelerate Innovation For Small Businesses Insurance

Mar 31, 2021•over 4 years ago
Palo Alto

Description

Next Insurance, the leading digital insurtech company transforming small business insurance, today announced a $250 million new funding round led by FinTLV Ventures and Battery Ventures with participation from CapitalG, Group 11, Zeev Ventures, Founders Circle and G Squared bringing the company's valuation to $4 billion and total funding raised to more than $880 million. The new financing follows a momentous six months during which Next Insurance announced two acquisitions, added new strategic partners, and doubled its gross written premium. FinTLV Ventures founder and managing partner Gil Arazi and Battery Ventures general partner Michael Brown, will join as board observers.

Company Information

Company

Next Insurance

Location

Palo Alto, California, United States

About

Next Insurance is transforming small business insurance with simple, digital and affordable coverage tailored to the self-employed. Next Insurance offers policies that are easy to buy in 10 minutes or less and provides 24/7 access to services such as Live Certificates of Insurance, Additional Insured, and more, with no extra fees. Revolutionizing a historically complicated insurance industry, Next Insurance utilizes AI and machine learning to simplify the purchasing process and drive down costs by up to 30% compared to traditional policies. Founded in 2016, the company is headquartered in Palo Alto, and with this new funding round will have raised a total of $881 million in venture capital funding and has been recognized by Forbes Fintech 50, JMP Securities InsurTech 50, and Forbes Best StartUp Employers. For more information visit NextInsurance.com. Stay up to date on the latest with Next Insurance on LinkedIn, Facebook, YouTube, Twitter and our blog.