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.