PriyaPatel
TLDR:
Key Points:
- 40 funding events took place in the insurtech sector in June 2024.
- Focus on insurtech and property & casualty sectors with venture-capital financing model.
Top Insurtech Funding Rounds, June 2024
Between June 1 and June 30, 2024, there were approximately 40 funding events in the insurtech sector, with a focus on insurtech and property & casualty sectors following the venture-capital financing model. Here are some key highlights from the top funding rounds:
- Sixfold AI received $15,000,000 in Series A funding on June 5. The insurtech company applies AI to underwriting and plans to expand their team and product offerings.
- Understory, which provides insurance products based on its risk model and global network of weather sensors, secured $15,000,000 in Series A funding on June 5. The company aims to scale solutions for real-world problems.
- Porch Financial received an undisclosed amount of funding on June 5 for their software solutions for life insurance companies.
- LogRock, a platform for comparing truck insurance, received $4,999,994 in funding on June 10 from various investors.
- Quantiv Risk, an analyst of auto accidents using vehicle data, received $952,000 in seed funding on June 14.
These funding events highlight the continued growth and innovation in the insurtech sector, with a focus on leveraging technology to improve underwriting, risk modeling, and insurance product offerings. Companies in the insurtech space are increasingly looking to expand their footprint and scale solutions to address real-world challenges.
