Are you an insurance executive looking to stay ahead of the game? Then you need to know about the top insurtech funding rounds that took place in September 2024. According to a review by Digital Insurance, there were about 58 funding events in the insurtech sector during this time. Here are some of the most notable ones:

1. Ledger Investing: This online marketplace securitizes insurance risk and raised $100 million in venture series undisclosed funding. Investors include Y Combinator, 500 Global, Accel, AmWINS, and Page One Ventures. With this funding, Ledger plans to expand from primarily securitizing MGA-originated portfolios to supporting the long-term capital management of leading (re)insurers.

2. Oyster: This HR platform for global companies raised $59 million in series D funding. Investors include Silver Lake Waterman, Endeavor Catalyst, Emergence, Base10 Partners, PayPal Ventures, and Georgian. Oyster plans to use this funding to continue serving its diverse and global customer base, providing compliance, support, and intelligence infrastructure.

3. Ledgebrook: This insurtech excess & surplus managing general agent for wholesale brokers raised $17 million in series B funding. Investors include Duquesne Family Office, Floating Point, Brand Foundry Ventures, American Family Ventures, Stephens Group, and Markd. Ledgebrook plans to use this funding to continue its vision for what it can be in the coming decades.

4. Sigo Seguros: This auto insurer focused on serving Spanish-speaking communities raised $10.5 million in series A funding. Investors include Varco Capital, Listen, Angeles Ventures, Blockchain Founders Fund, Bond, and Revolution’s Rise of the Rest Seed Fund. Sigo plans to use this funding to provide better service to the Latino community, which is often overlooked by the existing insurance industry.

5. Demex: This climate risk coverage and reinsurance company for non-catastrophic weather events raised $10.25 million in series A funding. Investors include Congruent Ventures, MetaProp, Moxxie Ventures, Blue Bear Capital, and QBE Ventures. Demex plans to use this funding to help insurance carriers and reinsurers quantify and reduce risk from high frequency events such as thunderstorms.

These funding rounds highlight the importance of insurtech in the insurance industry. As an insurance executive, it’s important to stay up-to-date on the latest developments in the field. By doing so, you can better serve your customers and stay ahead of the competition.

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Source: Digital Insurance