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Pie Insurance Raises $127 Million in Latest Financing

May 28, 2020•over 5 years ago

Amount Raised

$127 Million

Washington

Description

Pie Insurance, one of the fastest-growing insurtechs in the country, today announced the closing of $127 million in new financing and capital commitments. Gallatin Point Capital joined Pie's current investors in the capital raise, including Greycroft, SVB Capital, Aspect Ventures, Elefund, and Sirius International Insurance Group, Ltd. The new financing includes $27 million to support the continued growth and expansion of Pie Insurance's offering to small business owners. The additional $100 million equity capital commitment will support Pie's strategic initiative to form and purchase licensed insurance companies.

Company Information

Company

Pie Insurance

Location

Washington, District Of Columbia, United States

About

Pie Insurance provides workers' compensation insurance directly to small businesses and also partners with local, regional, and national insurance agencies to provide coverage to their clients. Headquartered in Washington, D.C. and Denver, the company began offering policies in 2018 with a goal of helping small businesses experience true savings and an unmatched level of service. Pie operates as a managing general agency for Sirius America Insurance Company, a subsidiary of Sirius Group, offering A.M. Best "A-" (Excellent) rated workers' compensation insurance. Pie's investors include SVB Capital, Gallatin Point Capital, Greycroft, Aspect Ventures, Sirius Group, Moxley Holdings, and Elefund.

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