Top 10 InsurTech Capital Raises in the U.S. – August 1st – 11th, 2024
The InsurTech sector has seen significant activity this past week, with several companies securing substantial funding to drive innovation.
If you would like more info on these deals or would like to discuss the capital raising market for your company, please DM me.
Here are the top 10 capital raises:
Merger/Acquisition and Corporate
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- Columbia Insurance & Wealth Management, based in Vancouver, Washington, was acquired by Highstreet Insurance Partners through an LBO.
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- Insurance Management Company, headquartered in Erie, Pennsylvania, was acquired by Hub International through an LBO.
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- Southern Colorado Insurance Center, from Colorado Springs, Colorado, was acquired by Hub International through an LBO.
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- Lincoln Insurance Group, based in McDonough, Georgia, was acquired by King Insurance Partners through an LBO.
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- US Midcorp And Entertainment Insurance, abusinesses unit of Allianz Global Corporate & Specialty was acquired by Arch Capital Group for US$ 450 million.
Later Stage VC
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- Nayya, located in New York, New York, raised later-stage VC funding, securing support from ADP Ventures for its innovative insurance solutions.
Early Stage VC
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- Walnut Insurance, based in Toronto, Ontario, raised $3.34 million in early-stage VC funding to enhance its insurance platform. (Lead Investor: NAVentures)
- AutoComplete, from San Francisco, California, received backing from AutoNation and Bain Capital Ventures in its early-stage VC funding round.
Seed Round, Angel, and Grant
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- Chaiz, headquartered in Austin, Texas, raised $3.96 million in seed funding to develop its insurance tech platform. (Lead Investor: Resilience VC)
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- Fair, based in Dover, Delaware, secured $1.44 million in seed funding to innovate in automotive insurance. (Investors: Antler, Blue Collective, Redbud VC)
#castleplacement 📈 #capitalraising 💼 #privateequity #venturecapital #investment #InsurTech
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 Reijmers
Managing 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.
