Post 0 Remarks Next Insurance remains in speak to raise brand-new capital in a round that values the insurance coverage innovation start-up at about $2.25 billion, according to individuals acquainted with the matter.
Alphabet Inc.’s CapitalG remains in speak to lead the approximately $250 million funding round for the Palo Alto, California-based company, individuals stated, asking not to be identified because the matter is private.
The round would about double Next Insurance’s assessment from its last fundraising. It last raised$250 million in October from German reinsurer Munich Re, which provided it an evaluation of more than$1 billion. The round hasn’t been completed and its terms could still alter. On Second Thought, Insurtech Next Insurance Thinks Agents Have a Function Representatives for Next Insurance and CapitalG didn’t respond to ask for comment. Next Insurance, which caters to small companies, is also backed by financiers including Redpoint Ventures, Nationwide Mutual
Insurance Co. and American Express Ventures. Online insurance provider Hippo Enterprises Inc. closed a financing round in July valuing it at$1.5 billion. Shares of Lemonade Inc., a New York-based, venture-backed insurer that went public in July, have actually acquired 88%ever since. Copyright 2020 Bloomberg. Was this post important? Thank you! Please inform us what we can do to improve this post. Send No Thanks Thank you !%of individuals found this post important. Please inform us what you liked about it. Send No Thanks Here are more short articles you might delight in. The most crucial insurance coverage news, in your inbox every service day. Get the insurance coverage market’s relied on newsletter Source: insurancejournal.com