Sure, a New York, US-based insurance infrastructure startup, closed $100 million in Series C funding at a $550 million valuation.
New York-based Declaration Partners and European growth investor Kinnevik co-led the financing, which also included participation from WndrCo and existing backers W. R. Berkley and Menlo Ventures. The round brings the Santa Monica-based startup’s total raised to $123.1 million since its 2015 inception.
The company plans to use its new capital from its growth round to accelerate its global expansion, speed up new product launches and continue to “streamline embedded insurance customer experiences.” Sure, also plans to continue hiring, the company plans to triple its engineering headcount in 2022.
Company: Sure, Inc.
Raised: $100.0M
Round: Series C
Funding Month: October 2021
Lead Investors: Declaration Partners and Kinnevik
Additional Investors: WndrCo, W. R. Berkley, and Menlo Ventures
Company Website: http://www.sureapp.com/
Software Category: Enterprise SaaS Platform
About the Company: Sure, an insurance technology company, powers digital insurance programs for the world's most recognized brands and carriers. Its enterprise SaaS Platform and APIs accelerate digital transformation and embedded insurance distribution without the need for additional IT resources. Sure, streamlines all aspects of digital insurance sales and service with features designed for each phase of the insurance lifecycle. Sure, launched its first (enterprise SaaS) product in early 2016, and today counts traditional financial services and fintech companies alike among its customers. Customers include Farmers Insurance, Chubb, Intuit, Betterment, Revolut, Carvana, several automotive manufacturers, and a leading global credit card network. All offer insurance programs built on Sure’s infrastructure. Sure’s current employee count is 80, which is up over 50% since last year.
Source: https://techcrunch.com/2021/10/05/insurance-infra-startup-sure-raises-100m-series-c-at-a-550m-valuation/