Top 10 Insurance/InsurTech Capital Raises in the U.S. – October 1st-15th, 2024
Several interesting transactions closed in the Insurance/InsurTech sector this week. If you would like more info on these deals or would like to discuss the capital raising market for your company, please contact me.
PE Growth/Expansion
- ClaimReturn, developer of a medical claims auditing system designed to identify overpaid medical claims, received development capital from Huffines Enterprises Science & Technology and Phillip Huffines.
Merger/Acquisition and Corporate
- Keen, operator of an insurance agency intended for Medicare beneficiaries, was acquired by Connie Health.
- No Exam Life Insurance, operator of an online insurance brokerage company that specializes in offering term life insurance to individuals and families, was acquired by DigitalBGA.
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Tensorflight, developer of a property intelligence platform designed to optimize the underwriting and claims processes, was acquired by Nearmap Australia through an LBO.
Later Stage VC
- COVU, provider of insurance brokerage services intended for independent agencies and their customer to offer customized insurance, raised $12.5 million venture funding in a deal led by ManchesterStory, Markd, and Benhamou Global Ventures.
- Pinpoint Predictive, developer of a property and casualty insurance platform intended to offer custom Loss Prediction and Risk Scores to insurer, raised $23 million venture funding in a deal led by Markd, putting the company’s pre-money valuation at $33 million.
Early Stage VC
- Assurified, developer of a multifamily risk management platform designed to let property owners lower their risk across a diverse portfolio, raised $500,000 of venture funding.
- StockGuard, developer of risk management software designed to protect livestock producers from unexpected financial losses, raised $6 million of venture funding.
Angel, Seed, and Grant
- Stream, developer of an artificially intelligent workflow automation software designed for insurance claim adjudication, raised $5.3 million of seed funding in a deal led by Spark Capital.
- Avibra, developer of a social application designed to reward good habits with life insurance coverage, raised $3.15 million of seed funding from Sugar Free Capital, putting the company’s pre-money valuation at $15.8 million.
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Axel Reijmers
Managing Director
Former Head of Corporate Finance M&A Americas for the Royal Bank of Scotland and ABN AMRO Bank, based in New York. Began his career at ABN AMRO Bank in Japan, and subsequently in The Netherlands in the Corporate Finance department. Was seconded to New York in 2006 to co-establish the ABN AMRO North America Corporate Finance M&A department and grew it by advising medium and large companies on domestic and cross-border mergers, acquisitions, capital raisings and capital structurings. Led the management buyout of RBS Bank Mexico and RBS Broker-Dealer Mexico in 2014 and spearheaded the subsequent growth of the bank as Head of Investment Banking & Corporate Development. During his tenure he supported companies with capital and financing solutions with a focus on companies in the US and Mexican energy infrastructure sector and fintech sector. Holds a master’s degree in economics from Groningen University, The Netherlands. Holds FINRA Series 7 and 63 licenses.
- Email: areijmers@castleplacement.com
- (C) (201) 747-4718
Please contact me if you have any questions or would like to discuss your capital raise:
Email: areijmers@castleplacement.com
(C) (201) 747-4718
Sources: Information on this page was derived from a variety of sources including Bloomberg, Company Websites, Crunchbase, PitchBook and other news outlets. Castle Placement™ does not warrant or guarantee this information, nor makes any representations as to the accuracy of the information. For more Risks, see CPGO Risks and Disclaimers.