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Branch raises $50M to offer bundled auto & home insurance via an API
Branch Insurance, a startup offering bundled home and auto insurance, has raised $50 million in a Series B funding round led by Anthemis Group.
Acrew, Cherry Creek Holdings and existing backers Greycroft, HSCM Bermuda, American Family Ventures, SignalFire, SCOR P&C Ventures, Foundation Capital and Tower IV also participated in the round. With this latest financing, Columbus, Ohio-based Branch has raised $82.5 million in total funding since its 2017 inception.
With so many players in the insurtech space, it can get tough distinguishing the various offerings. Branch claims that it is unique in that it is able to provide customers with “an instant insurance offer” for bundled home and auto insurance “within seconds” using just a few pieces of information.
Branch Insurance Raises $50M to Break the Vicious Cycle of Overpriced Insurance
Using One of the Largest Insurtech Series B Rounds in History, Branch Will Expand Its Built-for-Savings Home and Auto Coverage Nationally
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Branch Insurance, the startup that pioneered instantly-bundled home and auto insurance, has closed a $50 million Series B fundraise to fuel its national and partner channel expansion. The round was led by
Anthemis Group with participation from Acrew, Cherry Creek Holdings, and existing investors Greycroft, HSCM Bermuda, American Family Ventures, SignalFire, SCOR P&C Ventures, Foundation Capital, and Tower IV. Branch has raised $82.5 million to date.
Branch Insurance Expands Home, Auto Coverage to Colorado, Oklahoma April 29, 2021
Columbus, Ohio-based Branch Insurance is now offering its home and auto insurance coverage in Colorado and Oklahoma.
The company, which specializes in bundled home and auto coverage using technology and automation, said this expansion is its third state launch of the year and eighth overall. Branch will continue to expand nationwide through 2021, the company said.
Branch was founded in 2017 by insurance veteran Steve Lekas and tech entrepreneur Joe Emison. Its policies are underwritten by the Branch Insurance Exchange and General Security National Insurance Co. (GSNIC) and backed by SCOR SE.
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