Next Insurance closes $250M funding round at $2B valuation
Israeli-founded insurance tech startup Next Insurance has closed a $250 million Series D investment round that pushes its valuation to $2 billion. The US Alphabet’s independent growth fund CapitalG led the round, German reinsurance company Munich RE participated in it, reports NoCamel.
Founded in 2016, Next Insurance company provides customized online policies for different types of small businesses across the US. It offers general liability, professional liability, commercial auto and new workers’ compensation coverages. As the company declares, the whole process of policies purchasing and managing through the Next’s platform is simple and convenient.
Next Insurance is planning to use the new funding to complete the product as “one-stop-shop for any kind of business’ insurance needs”, as well as to expand the team and acquire new clients. To date, it already has more than 100,000 customers and is available in 50 states.
Guy Goldstein, the CEO of Next Insurance, in his interview with Crunchbase News, maintains that the goal of the company is to become the largest provider of small business insurance in the US.