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Next Insurance to Acquire AP Intego, Build Integrated Digital Insurance Powerhouse
Insurtech firm Next Insurance has signed a definitive agreement to acquire AP Intego, a digital insurance agency providing a suite of small commercial insurance products to some of the largest small business software ecosystems in the U.S., including Intuit, Gusto, Square and Toast.
AP Intego’s platform provides an embedded insurance offering alongside its partners’ core products. With a foundation built around many of the leading payroll software providers, AP Intego delivers a digital buying experience for pay-as-you-go workers’ compensation insurance to tens of thousands of small businesses.
Next Insurance Funding Hits $881M After Latest $250M Round
Next Insurance raised $250 million in new venture financing – a major cash infusion after a year of acquisitions and other actions to further growth.
FinTLV Ventures and Battery Ventures led the Series E financing round. CapitalG, Group 11, Zeev Ventures, Founders Circle and G Squared also participated. As part of the new financing, FinTLV Ventures founder and Managing Partner Gil Arazi and Battery Ventures General Partner Michael Brown will join as board observers.
Next Insurance, launched in 2016, has raised $881 million to date including the new round. That surpasses the $523 million in venture capital Root raised and the nearly half-billion dollars Lemonade pulled in before their respective initial public offerings in 2020. Other insurtechs in recent months have raised far less and gone public through reverse merger transactions.
The Israeli InsurTech Unicorn secures half of a billion dollars in 6 months, almost doubling its valuation Oshry Alkeslasi / 4 Apr 2021 • 2 min read
InsurTech startup Next Insurance continues its roar on the insurance scene, closing a $250 million Series E round. The investment was led by FinTLV and Battery Ventures, while Founders Circle, Zeev Ventures, Group 11, CapitalG, and G Squared also got in on the action. Next lands its Series E at a valuation of $4 billion - almost doubling the startup’s valuation from a September 2020 round.
Six months later: Valuation doubled
The Series E comes just 6 months following the company’s last round, when it raised $250 million from CapitalG at a $2.2 billion valuation. Since then, Next has acquired American startup Juniper Labs, which experts in ML and Big Data focused on the insurance sector. Earlier this mont
Next Insurance Raises $250M Bringing Its Valuation to $4B
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