Policygenius has rasied a total of US$225mn in funding to data and occupies a prime position in the insurtech marketplace as returning VCs re-invest
In its most recent fundraising round, Policygenius, a US-based insurtech marketplace platform, raised US$125 million.
The new funds will be used to invest in Policygenius’ main business goods and services, which include home, life, disability, and vehicle insurance, according to the company’s management. The money will be used to improve Policygenius Pro’s no-exam life insurance options.
For the newest round, all of the insurtech’s top investors returned, including KKR, Norwest Venture Partners, and Revolution Ventures.
Annuity and life insurance companies such as Brighthouse Financial, Global Atlantic Financial Group, iA Financial Group, Lincoln Financial, and Pacific Life were among the new investors.
Policygenius investors demonstrate market confidence
Jennifer Fitzgerald launched Policygenius in 2014, and the company has raised a total of $225 million in funding to date. Fitzgerald, who was recently voted the number one Woman in Insurtech for 2022 by Insurtech Digital, has been the driving force behind the company’s tremendous growth, which saw another $100 million in fundraising in 2020.
“Over the past eight years, we’ve invested in the crucial areas of technology, operations, and product development to achieve the best outcomes for our consumers, carriers, and distribution partners,” she stated in response to the newest funding campaign announcement.
“We’re pleased to expand our already-large reach across the trillion-dollar insurance business with the help of our new and existing investors,” she added.
