12/28/2023 0 Comments Clarify health crunchbaseThe same can be said for insurtech funding for the first half of this year (and then some). As we reported a few weeks ago, global venture funding for the first half of 2020 was down from the past two years. The outbreak and subsequent economic turmoil has affected all sorts of industries, including venture capital. This year has been strange in a number of ways, but primarily because of the COVID-19 pandemic. It uses a driver’s smartphone to assess factors like braking, route regularity and speed of turns to help determine a premium, rather than looking solely at indicators like age and location. Some of the big, notable deals from last year include Root Insurance’s $350 million Series E in August 2019 and Lemonade’s $300 million Series D in April 2019.įor an example of how far-reaching insurtech has evolved, take a look at Root Insurance’s model. Translation–although there were fewer deals in 2019, the amounts were larger. Although the deal count was down a bit from 2018’s 595 insurtech deals, the dollar volume was up significantly from $5.6 billion in 2018. About $7.3 billion was invested in insurtech over 548 deals. The data is current as of July 22.īased on Crunchbase data, 2019 saw the most venture capital dollars invested in insurtech companies over the past five years. Private-equity rounds are excluded for non venture-backed companies.Companies from around the world that fall under industries with “insur” in Crunchbase’s data set (insurtech, auto insurance, commercial insurance, health insurance, insurance, life insurance, property insurance, etc.).A look at the dataīefore we dive into the findings of our recent Crunchbase data analysis on the industry, here are a few quick notes regarding our methodology for the data pull. That, along with the fact that it’s been around for so long, makes it ripe for disruption–regardless of the challenges facing startups across industries so far this year. Sadly, this doesn’t mean the sector has done particularly well in funding terms so far in 2020, although that’s to be expected as we see funding overall trending downward.īut insurtech is not an industry to be discounted.Īlthough it isn’t entertainment, software-as-a-service or autonomous vehicles, it’s an industry that touches billions of people and businesses in some capacity. Lately, we’ve seen more money pour into insurance technology–or insurtech–and some high-profile fundraises and exits.
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