Top 10 Insurance/InsurTech Capital Raises in the U.S. – September 16th-30th, 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.
Merger/Acquisition and Corporate
- SpottedRisk, a provider of insurance solutions to media companies, was acquired by CAC Specialty, a subsidiary of Cobbs Allen.
- Doma Holdings, a real estate transaction and title insurance provider, was acquired by Title Resources, via its financial sponsor Centerbridge Partners, through a $97.09 million public-to-private LBO. (Lead Investor: Centerbridge Partners)
- Blue Chip Insurance, a provider of insurance services, was acquired by Inszone Insurance Services, via its financial sponsors Ares Capital, BHMS Investments, Ares Management, and Lightyear Capital, through an LBO. (Lead Investor: Ares Capital)
Later Stage VC
- Zing Health, a Medicare-focused insurance company, raised $140 million of venture funding in a deal led by First Trust Capital Partners, Health2047 Capital Partners, and CRG. (Lead Investor: First Trust Capital Partners)
- Roots Automation, an AI-driven insurance automation platform, raised $22.2 million through a funding led by Harbert Growth Partners, putting the company’s pre-money valuation at $70 million. (Lead Investor: Harbert Growth Partners)
- eMaxx Assurance Group of Companies, a risk management provider, raised $20 million through a funding led by Walkabout Ventures, putting the company’s pre-money valuation at $60.15 million. (Lead Investor: Walkabout Ventures)
Early Stage VC
- arqu, an InsurTech platform, raised $10 million of Series A funding in a deal led by Crosslink Capital, putting the company’s pre-money valuation at $29 million. (Lead Investor: Crosslink Capital)
- Rover AI, an AI insurance assistant, secured $300,000 of venture funding in the form of SAFE notes.
- Functional Finance, an InsurTech startup, raised $20 million of venture funding to further develop its financial insurance products.
Angel, Seed, and Grant
- Dentite, a dental insurance startup, raised $900,000 of angel funding in the form of convertible debt.
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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
 Axel ReijmersManaging Director |
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.
