Insurtech’s winning jackpot: January 2024’s top funding rounds!

February 10, 2024
1 min read

TLDR:

– There were approximately 30 funding events in the insurtech sector during January 2024.
– This article highlights several funding rounds in the insurtech and property & casualty sectors.

Kin Insurance:

– Raised $14,999,952 in an unknown series funding round.
– Kin Insurance is a direct-to-consumer digital home insurer.
– Investors include 500 Global, CSC Upshot, Flourish Ventures, Runway Growth Capital, and Industry Ventures.

DigitalOwl:

– Raised $12,000,000 in a Series B funding round.
– DigitalOwl is an insurtech platform that uses generative AI to review medical records.
– Investors include Reinsurance Group Of America, Fusion, Insight Partners, Ibex Investors, and Tau Ventures.
– The technology addresses inefficiencies in the life insurance underwriting process.

Rainbow:

– Raised $12,000,000 in a seed funding round.
– Rainbow is a pay-as-you-go restaurant insurer.
– Investors include 8VC, Caffeinated Capital, Buckley Ventures, Habitat Partners, and Zigg Capital.
– Focuses on providing tailored underwriting solutions for restaurants and small businesses.

MIC Global:

– Raised $6,000,000 in a seed funding round.
– MIC Global is a digital micro-insurer.
– Investors include Launchpad Capital, Greenlight Reinsurance, and Ironsides Partners.
– Aims to provide protection to people in both developed and emerging countries through their technology-enabled insurance platform.

Korr:

– Raised $3,200,000 in a seed funding round.
– Korr is an insurance management app for agents and carriers.
– Investors include Motive Ventures, Tokio Marine Future Fund, and Plug and Play.
– Focuses on driving positive change in insurance through cloud-native architecture and innovation.

Draivn:

– Raised $1,904,799 in a seed funding round.
– Draivn provides telematics data software for insurers and brokers.

Terabitten Technologies:

– Raised $225,000 in an unknown series funding round.
– Terabitten Technologies is the creator of insurance premium tax software called Prematax.

Overall, these funding rounds represent a range of insurtech companies addressing various aspects of the insurance industry, from home insurance to telematics data software. This funding indicates continued growth and innovation in the insurtech sector.

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