Subsequent Insurance coverage raises $250M, doubling its valuation to $4B in underneath a yr – TechCrunch
Subsequent Insurance coverage not too long ago introduced that it has raised a $250 million spherical, valuing the SMB-focused insurance coverage supplier at $4 billion. The corporate final raised one other $250 million in September 2020, at a valuation of $2 billion. This funding additionally comes after Subsequent Insurance coverage acquired Juniper Labs in December, and AP Intego extra not too long ago.
Subsequent sells small-business protection throughout a lot of classes (employees comp, industrial auto, normal legal responsibility, and so on.) for various courses of employees. Assume health firms, or building issues. Put collectively, Subsequent’s wager is that its capacity to cost protection throughout completely different classes and industries will enable it to scale its gross written premium (GWP) shortly by attracting myriad small companies, and upselling them to different merchandise over time.
Subsequent Insurance coverage’s new spherical and new valuation come at an attention-grabbing time for the insurtech