Baroda Ventures is a Los-Angeles-based venture capital firm that focuses on pre-seed and seed stage investments in the consumer internet, e-commerce, mobile, SaaS, and digital media industries. It prefers to invest in companies based in Los Angeles. It is also open to investments in later stage companies and companies in hardware, cleantech, and healthcare sectors. The firm prefers to invest $0.1 million and $5 million. Baroda Ventures was founded by David C. Bohnett in 1998 and is headquartered in Beverly Hills, California.

Baroda Ventures

Otter Rock Capital invests in exciting, fast-growing, early-stage companies.

Otter Rock Capital

Innovating Capital is a family-office backed technology fund specializing in investing in start-ups, early stage, and growth stage companies. It invests in disruptive sectors and cutting-edge technologies with a focus on enterprise industry verticals such as infrastructure, financial technologies, cybersecurity, life sciences, and insurance technologies.

Innovating Capital

Karlin Ventures is an early-stage venture capital fund based in Los Angeles. They are value-add partners helping entrepreneurs who take contrarian approaches to create impactful solutions to big, interesting problems. Karlin Ventures is an affiliate of Karlin Asset Management, a private investment firm managing over $1.4 billion of unleveraged equity capital.  Focus on enterprise software, eCommerce, marketplaces, advertising technology, and education technology but are open to exciting ideas in other verticals. Typical investments range from $100,000 to $2,000,000. Prefer co-investor roles and will participate in follow-on rounds.

Karlin Ventures

Susa Ventures is an early-stage venture capital firm investing primarily in seed rounds. The firm was founded in October 2013 and si headquartered in San Francisco, California, United States.

Susa Ventures

MMV is a multi-stage, global venture capital firm investing in enterprise software, cybersecurity, financial technology, and digital health companies. We help accelerate the growth of the companies we partner with by providing capital, connections and advice. MMV’s sole limited partner is MassMutual, a Fortune 500 financial services company with assets under management of $616 billion (Dec 2020).

MassMutual Ventures

Transamerica Ventures is the corporate venture capital arm of the Aegon Group and Transamerica. Transamerica Ventures invests in early-stage, high-growth technology companies throughout the United States and around the world.  Transamerica Ventures is an extension of Aegon’s innovation strategy and makes equity investments in companies that align with and help facilitate these strategic goals. The broad range of companies and market sectors into which Transamerica Ventures invests or looks to potentially invest includes communication technologies, marketing and social media platforms, financial technology and financial services (FinTech/FinServ), big data, enterprise IT, content and other B2B and B2B2C opportunities. Transamerica Ventures adds strategic value to its portfolio companies by providing them with the unique opportunity to leverage the global networks and resources of one of the world’s leading life insurance, pension and asset management firms.  Transamerica Ventures puts its entrepreneurs first and supports them with strategy and business development and by creating partnerships with the Aegon/Transamerica organization.

Transamerica Ventures

AXA Venture Partners (AVP) is a venture capital fund investing in high-growth, technology-enabled companies. AVP has built a unique investment platform specialized in tech investments with $600 million of assets under management through three pillars of investment expertise: Early Stage Fund, Growth Stage Fund and Fund of Funds. To date, AVP has invested in 40 Early and Growth equity deals and 6 Fund investments. AVP team operates globally backed by offices in San Francisco, New York, London, Paris and Hong Kong. Beyond investments, AVP provides access to business development opportunities helping portfolio companies to scale globally and accelerate their growth.

AXA Venture Partners

Newtown Partners is an early-stage venture capital firm that actively invests in emerging, disruptive technology startup businesses. Founded and run by internationally successful entrepreneurs, Vinny Lingham and Llew Claasen, Newtown Partners has an entrepreneurial focus that goes beyond investment. The team operates out of offices in Cape Town, South Africa and Sunnyvale, California (Silicon Valley). The firm has a strong track record of investing in successful technology startups at the forefront of innovation and has successfully invested in and nurtured a number of early-stage companies from ideation to market-leading businesses. Newtown Partners has a strong executive team with a proven track record in technology entrepreneurship. The team has successfully launched, grown and sold technology startup businesses as entrepreneurs themselves and know what is required to succeed locally and internationally.

Newtown Partners

Tribeca Early Stage Partners is a network of financial professionals that finances, advises, and supports early-stage FinTech companies. It was formed in 2014 as a FinTech-focused angel club and has brought together a network of entrepreneurs and business leaders with deep domain expertise in institutional finance and technology.  With approximately 50 accredited investors, they have the collective experience and perspective that touches virtually every facet of the institutional finance landscape.

Tribeca Early Stage Partners

A community of talented founders who switched from the common path.

Switch Ventures

Founded by Steve Case in 2005, Revolution partners with passionate entrepreneurs upending traditional industries with innovative products and services, leveraging its areas of specialized expertise to create significant value. Through its family of funds that include The Rise of the Rest Seed Funds, Revolution Ventures, and Revolution Growth, Revolution partners with entrepreneurs at every stage of the entrepreneurial lifecycle. Revolution focuses on venture communities in high-potential geographies and believes that while talent is well distributed, the opportunity is not. The firm’s vision that great companies can start and scale anywhere is supported by the fact that startups in emerging venture communities are often more capital efficient, offer a lower cost of doing business, and attract talent looking for a better quality of life.

Revolution

Revolution Ventures focuses on early-stage venture capital investments in technology-enabled businesses that disrupt existing, multi-billion dollar industries. They seek opportunities where we have confidence in the entrepreneur, are excited by the business concept, and believe there is an attractive investment opportunity.

Revolution Ventures

Norwest is a venture capital and growth equity investment firm that specializes in venture and growth equity companies. Since its inception, it has invested in more than 600 companies and partnered with over 140 active companies across our venture and growth equity portfolio. The firm invests in early to late-stage companies across a wide range of sectors with a focus on consumer, enterprise, and healthcare. It offers a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses.

Norwest Venture Partners

Fika Ventures is an early-stage, B2B venture capital firm based in Los Angeles. Founded in 2016, Fika focuses on pre-Series A software companies in sectors like vertical SaaS, fintech, commerce enablement, healthcare, and marketplaces.

Fika Ventures

Kohlberg Kravis Roberts is an investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. The company generates investment returns for its fund investors through a patient and disciplined investment approach, employing people, and driving growth and value creation.

Kohlberg Kravis Roberts

Transamerica is an American private holding company that provides services for various life insurance companies and investment firms doing business primarily in the United States. Through its subsidiaries, Transamerica offers insurance, retirement, and investment products. It offers term life, whole life, universal life, variable universal life, long-term care, accidental death, Medicare solutions, and final expenses insurance solutions; retirement solutions including 401(k) and 403(b) pensions, sponsor services, individual retirement accounts and rollover individual retirement accounts; mutual funds; and variable annuities.  Transamerica also funds the Transamerica Institute, a non-profit private foundation that has two divisions: Transamerica Center for Retirement Studies and the Transamerica Center for Health Studies. Transamerica was founded in 1904 and is headquartered in Cedar Rapids, Iowa. It operates as a subsidiary of AEGON International B.V.

Transamerica

AXA is an insurance company that provides a variety of financial services. Through initiatives such as AXA Hearts In Action, which focuses on solidarity-based efforts, and the AXA Research Fund, which addresses prevention issues, AXA demonstrates a commitment to its social responsibilities and engages in the fight against climate change. The firm offers a range of products, including property-casualty insurance, life insurance that includes savings and retirement options, health and personal protection solutions, as well as asset management services.

AXA Group

MassMutual is a mutual life insurance company that provides investment management and trust services. The company also offers life insurance, disability income insurance, long-term care insurance, executive benefits products, annuities, mutual funds, and retirement and savings products.MassMutual was established in 1851 and is headquartered in Springfield, Massachusetts.

MassMutual

Lincoln Financial Group is a Fortune 500 company offering a diverse range of financial services and solutions. Founded in 1905 with the endorsement of Abraham Lincoln’s son, Robert Todd Lincoln, Lincoln Financial Group is the first and only company to carry Abraham Lincoln’s name, image, and ideals at the heart of their brand. For more than a century, they have advanced President Lincoln’s inclusive vision and values by building an honest, dependable financial services company. They are dedicated to helping Americans secure better, more optimistic futures for themselves and their loved ones.

Lincoln Financial Group

Pacific Life provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. The company helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as its clients. The company was founded in 1868 and is headquartered in Newport Beach, California.

Pacific Life

Global Atlantic Financial Group is a leader in the U.S. life insurance and annuity industry, serving the needs of individuals and institutions. With differentiated investment and risk management capabilities, deep client relationships, and a strong financial foundation, the company has established a track record of delivering proven, value-added solutions and long-term growth. Global Atlantic is a majority-owned subsidiary of KKR, a leading global investment firm that offers alternative asset management across multiple strategies and capital markets solutions. KKR’s parent company is KKR & Co. Inc. (NYSE: KKR).

Global Atlantic

Founded in 1892, iA Financial Group offers a comprehensive range of life and health insurance products, savings and retirement plans (RRSP, TFSA, etc.), mutual and segregated funds, securities, auto and home insurance, mortgages and car loans as well as a host of other financial products and services.  Responsible for the administration and management of over $126.2 billion in assets, our publicly-listed company ranks among Canada’s largest and most prominent insurance companies. Thanks to our conservative investment policy, wise capital management practices and solid risk management culture, iA Financial Group enjoys financial stability and flexibility, which allows it to grow and withstand any potential economic shocks.

iA Financial Group

Brighthouse Financial offers annuities and life insurance that help protect what people have earned and ensure it lasts. The company is built on a foundation of experience and knowledge, which enables it to provide the value the customers deserve. The company has over $200 billion in total assets, more than 2 million customers, and approximately 2.5 million annuity contracts and insurance policies in force. Brighthouse Financial is the brand name for Brighthouse Life Insurance Company, Brighthouse Life Insurance Company of NY, and New England Life Insurance Company. Brighthouse Financial was founded in 2017 and is headquartered in Charlotte, North Carolina.

Brighthouse Financial

Policygenius

Policygenius is the online insurance marketplace combining cutting-edge technology with the expertise of real licensed agents to help people get the coverage they need to protect their family, property, and finances with confidence. Since 2014, we've served as a resource for millions of people on their insurance journeys, and we've placed more than $160 billion in coverage. Policygenius was founded in 2014 and has headquarters in New York, New York and Durham, North Carolina, United States.

Policygenius offers a platform for customers to compare and purchase insurance policies from top insurance carriers, get expert advice, and manage their insurance portfolios. The company’s proprietary technology platform integrates life, home, auto, disability, and renters insurance carriers to provide an online digital experience for both consumers and carriers. The company earns its revenue through commissions, which are already built into the price of each policy.

New insurance models are disrupting a centuries-old industry with a focus on personalization and convenience

InsurTech: Personal Lines

Policygenius Released Policygenius 2024 Financial Planning Survey

Zinnia

To help Zinnia expand its digital distribution solutions and create new opportunities to cater to insurance carriers.

Providers of comparison websites and tools for carriers, agents, and consumers to compare and purchase policies.

Policygenius offers a platform for customers to compare and purchase insurance policies from top insurance carriers, get expert advice, and manage their insurance portfolios. The company’s proprietary technology platform integrates life, home, auto, disability, and renters insurance carriers to provide an online digital experience for both consumers and carriers. The company earns its revenue through commissions, which are already built into the price of each policy.In February 2022, the company launched Policygenius Pro, a turnkey partnerships (B2B) platform that helps independent agents and financial advisors accelerate and streamline life insurance sales. It claims the platform has reduced the average time an advisor spends on an application from 2.5 hours to 15–20 minutes.In April 2023, Policygenius was <a href="https://sp-edge.com/updates/18012">acquired by Zinnia (previously SE2) </a>, a developer of insurance software solutions. Financial details of the transaction were not disclosed. Post acquisition, Policygenius will continue to operate under its own brand and offer its full range of online services. The combined entity will service more than 60 carriers, 50 distribution partners, and over 2 million policyholders.Key customers and partnershipsIn June 2022, Policygenius partnered with Impact Partnership to bring the Policygenius Pro platform to Impact’s network of financial advisors consisting of over 200 constituent firms and 2,000 advisors.Funding and financialsIn March 2022, the company raised USD 125 million in Series E funding. The company aimed to use the new funds to support the growth of its core business. Between 2014 to March 2024, Policygenius claims to have sold over USD 200 billion in insurance coverage.

<div>
 
 Root Insurance is a full-stack insurance provider focusing on usage-based automobile insurance. The company offers a mobile app that collects data on driving speeds, braking patterns, and driving times using smartphone sensors, and applies artificial intelligence (AI) and predictive models to offer a personalized premium to the customer. The company claimed that the latest model utilizes double the proprietary data, demonstrating 17% greater predictive capabilities than the previous model. Moreover, the app incentivizes safe driving by providing greater insight into one&rsquo;s driving patterns and issuing additional discounts for improved driving behavior. Root allows customers to file claims directly through the mobile app. As of January 2024, Root held a carrier license in 48 states and offered automobile insurance in 31 states.
 
 In July 2019, Root launched its renters&rsquo; insurance product and expanded to homeowners insurance in May 2020. The homeowners&rsquo; insurance is provided through a partnership with Homesite Insurance, a Boston-based property and casualty insurer that will underwrite any homeowners insurance policies issued by Root. As of January 2024, the company&rsquo;s renters&rsquo; insurance product was available in 18 states.
 
 
 Key customers and partnerships
 
 
 Root had 259,522 policies in force as of September 2023.
 
 
 Root entered into a partnership with Carvana in July 2022, to offer usage-based auto insurance policies on the latter&rsquo;s used-car online platform.
 
 
 In addition, it had also collaborated with other players in the insurance space to optimize and digitize its insurance services.In January 2021, Root partnered with Tractable, a UK-based provider of AI-based solutions, to leverage its AI Subro solution to optimize Root&rsquo;s end-to-end claims process, starting with subrogation, where two insurance carriers negotiate the division of expenses when multiple parties are involved in a claim. It also partnered with CCC Intelligence Solutions in February 2023, to use its first-party casualty solution to streamline and digitize first- and third-party casualty claims through a single digital workflow.
 
 
 Funding and financials
 
 
 In October 2020, Root sold 26.8 million shares in its initial public offering (IPO), raising USD 724.4 million in the process at a valuation of USD 6.8 billion. In 
 <a href="https://sp-edge.com/updates/8089">
 January 2022
 </a>
 , Root received a five-year term loan of USD 300 million from BlackRock Financial Management (BlackRock) to extend its debt maturity and improve its liquidity position.
 
 
 For the full year of 2022, Root reported total revenue of USD 310.8 million (down 10.0% YoY), while its net losses improved to USD 297.7 million from a loss of USD 521.1 million in 2021. Its gross loss ratio improved to 82.1% from 86.0% in 2021.
 
</div>

Root Insurance

<div>
 
 Hippo is a digital homeowner insurance provider. The company offers its homeowner policies online, with each policy accompanied by a complementary smart home monitoring system that will help identify risks proactively. It provides coverage using a combination of machine learning, satellite imagery, and other public records and actively reviews for any changes to the property overtime.
 
 
 Hippo also provides home insurance to buyers of newly built homes that is directly integrated to the digital mortgage and title process through its Builders business. Further, it launched 
 <a href="https://sp-edge.com/updates/16051">
 Hippo Builder Insurance Agency (HBIA)
 </a>
 in January 2023, to allow builders of all sizes to partner with HBIA to send leads of homeowners in return for a fee.
 
 
 The company also offers an on-demand homecare and maintenance app (Hippo Homecare) which it launched in 2019 following the acquisition of Sheltr, a home maintenance platform, during the same year. It also launched &ldquo;Book a Pro'' feature within its mobile app in Q4 2022, which allows homeowners based in Texas to connect to home improvement professionals as well as message its Hippo&rsquo;s own home care experts to get advice. Hippo also plans to roll-out this feature to other states in the future.
 
 
 In June 2020, Hippo entered into an agreement to acquire long-time insurance partner Spinnaker Insurance Company, which is a property and casualty insurer registered in all 50 states, for an undisclosed amount. The acquisition was expected to help the company expand its geographical reach. The company&rsquo;s homeowner offering was available in 40 states as of January 2023.
 
 
 Key customers and partnerships
 
 
 Hippo had 332,000 customers as of September 2022, and it claimed nearly 75% of its new customers were Gen B.
 
 
 The company partnered with property and casualty risk intelligence company, 
 <a href="https://sp-edge.com/updates/17629">
 Opterrix in April 2023
 </a>
 , to leverage its real-time data on severe weather events to identify at-risk policyholders and improve its claims management capabilities.
 
 
 Funding and financials
 
 
 In November 2020, Hippo raised USD 350 million from Mitsui Sumitomo Insurance company. The company expects to use this funding to support its national expansion plans and also evaluate acquisition opportunities to grow inorganically.
 
 
 For FY2022, the company recorded total generated premiums of USD 811.1 million, which was up 33.8% YoY. Its gross loss ratio improved 62 percentage points to 76% during the year, while its net loss improved 10.2% YoY to USD 333.4 million.
 
</div>

Hippo Insurance

Clearcover is a fully digital automobile insurance provider that offers insurance coverage and claims filing using online channels along with other value-added services such as roadside assistance. The company leverages AI and machine learning models to provide personalized pricing to its customers and validate claims. The company states that it can handle 96% of all claims virtually. Clearcover also launched a <a href="https://sp-edge.com/updates/27767">GenAI-powered claims intake tool</a> to navigate a conversation-driven experience after First Notice of Loss (FNOL) to collect information about an accident. The tool available through its mobile app includes a claims assistant and a real-time customer question resolution feature. It plans to incorporate the tool into its agent portal and website in the future.Clearcover also uses an application programming interface (API) to offer embedded car insurance. This powers <a href="https://sp-edge.com/updates/21232">Choice, </a>an end-to-end embedded auto insurance solution that allows brands to provide auto insurance policy options from various carriers to their customers.As of January 2024, Clearcover offered its policies in 19 states in the US.&nbsp;For FY2022, the company generated total direct premiums written of USD 140.7 million (up 79% YoY) and recorded USD 61.4 million in net premiums earned. Its net losses amounted to USD 38.7 million for the year, while its loss ratio and combined loss ratios stood at 115% and 158%, respectively.Key customers and partnershipsClearcover partnered with claims management solution vendor Snapsheet (May 2020) to fully digitize its own claims function from First Notification of Losses (FNOLs) to disbursements. It also partnered with ServiceUp (<a href="https://sp-edge.com/updates/32888">April 2024</a>), a technology company specializing in automotive repairs, to improve the car repair experience for insurance claims.Moreover, it collaborated with Experian to offer car insurance on the latter’s insurance comparison site (<a href="https://sp-edge.com/updates/18045">April 2023</a>). This was part of Clearcover’s strategy to expand its distribution channels.

Clearcover

<div>
 
 Kin offers digital homeowners insurance with personalized policies featuring premiums determined based on an assessment of the property that includes more than 10,000 data points from sources such as property records, government records, and satellite imagery.&nbsp;
 
 
 The company launched its insurance carrier, the Kin Interinsurance Network, in 2019, which operates as a reciprocal exchange (a form of insurance where underwriting profits are shared with customers). As of May 2024, it had a presence in Alabama, Arizona, Florida, Georgia, Louisiana, Mississippi, South Carolina, Virginia, and Texas.
 
 
 In December 2021, Kin acquired an inactive insurance carrier with licenses in 43 states. This acquisition was part of Kin's plan to expand its operations to most US states.
 
 
 Key customers and partnerships
 
 
 As of February 2024, it served over 115,000 policyholders.
 
 
 The company has partnered with Kangaroo, a smart home tech provider, to offer its customers free home security solutions. Additionally, it has collaborated with Cape Analytics, a property analytics provider that utilizes geospatial imagery for property intelligence, and Snapsheet, a claims management platform provider, to automate their internal processes.
 
 
 Funding and financials
 
 
 Kin Insurance was set to go public through a merger with Omnichannel Acquisition Corp., a special-purpose acquisition company (SPAC) in a transaction that valued the company at over USD 1 billion. However, this was terminated in January 2022, citing unfavorable market conditions.&nbsp;&nbsp;
 
 
 In February 2024, the company received USD 15 million 
 <a href="https://sp-edge.com/updates/26317">
 investment
 </a>
 from Activate Capital, with the funds earmarked to accelerate growth by expanding into new markets and developing new products.
 
 
 Kin Insurance recorded gross written premium (GWP) of USD 344.1 million in 2023 (up 50.7% YoY), and generated operating income of USD 5.0 million compared to an operating loss of USD 11.6 million in the prior year.
 
 
 
</div>

Kin Insurance

Ladder is a startup that provides personalized term life insurance online, with coverage ranging from USD 100,000 to USD 8 million. The company uses multiple publicly available data points to determine a customer’s eligibility and in most cases does not require a medical checkup. Ladder provides a home visit medical test for free if required. Ladder’s dynamic approach to life insurance allows policyholders to increase or decrease insurance coverage based on changing life circumstances. Ladder also provides an application programming interface (API) which allows onboarded partners such as other insurance companies, investment firms, and lenders to issue policies from Ladder digitally. The company is licensed to operate in all 50 states. More than 80% of its customers represented first time insurance buyers.Key customers and partnershipsThe company sells its own life insurance policies in California through its carrier, Ladder Life Insurance Company. In New York policies are underwritten by Allianz Life Insurance, and in all other states by Fidelity Security Life Insurance, Amica Life Insurance Company, Lincoln Financial and USA LIfe Insurance.Ladder had collaborated with many financial service institutions to extend its product offering. It partnered with <a href="https://sp-edge.com/updates/25889">Envestnet | MoneyGuide</a>, AmeriSave Mortgage, and Halo Investing, to deliver its digital life insurance to customers through the advisors of the latter.Funding and financialsIn October 2021, the company raised USD 100 million in Series D funding co-led by Thomvest Ventures and OMERS Growth Equity, at a valuation of USD 900 million. The new funds will be directed towards further developing its products and expanding its workforce. As of the same date, the company also reported that its revenue grew by over 4x year-over-year (YoY).

Ladder

Startups in the automobile insurance space, predominantly providing usage-based insurance using telematics devices and/or smartphone sensors.

Startups that offer homeowners and renters insurance using artificial intelligence (AI) and smart home devices to issue policies and validate claims.

Startups that provide life insurance through digital channels personalized to an individual’s circumstances and replacing traditional practices, such as medical tests, with data-driven underwriting.

Companies that offer personal line covers for travel and pets through digital channels and use technologies such as flight tracking and online claims processing.

Companies that provide personalized health insurance to consumers via digital channels and use technology such as wearable medical devices to monitor health and improve user experience and underwriting.

Companies that offer digital-only insurance for personal belongings (bicycles, mobile phones, laptops, and cameras), providing protection against theft, loss, or damage, with financial reimbursement or replacement.

IoTs used to proactively mitigate risks and offer usage-based insurance

Used for underwriting and claims; infrastructure providers offer AI/ML products to traditional insurers

Uses personal data to underwrite and price personalized policies such as usage-based insurance for vehicles

Limited number of life insurers use genetic/epigenetics to underwrite life insurance

Policygenius

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