Next Insurance, a startup that contests in the small business( SMB) policy busines, announced this morning that it has acquired its first company.
Purchasing Juniper Labs will help the unicorn boost its in-house data discipline crew, and the smaller firm’s predictive analytics engineering may be applied across the acquiring company’s portfolio of the assurances products.
Next Insurance raised $ 250 million earlier this year at a valuation of$ 2 billion, realizing it one of the richest startups to compete in the broad masses of the insurtech niche.
After speaking with Next about its buy and digging into its economics and recent rise, The Exchange also examined Getsafe’s recent round( European digital coverage startup ), took a look at NOW Insurance’s latest asset( business assurance startup) and asked Noyo’s Shannon Goggin to crowd us in about the insurtech VC startup market itself, given that her health insurance API company time parent its Series A.
The compounded image that were presented is one of an active grocery, likely accelerated by the IPOs of insurtech unicorns Lemonade and Root, Hippo’s latest megaround and Metromile’s impending public debut via a blank-check company.
Adding to the snapshot of bustling activity, TechCrunch recently explored funding tends in the insurtech sector, which is on track for a record year of jeopardize rounds and enterprise dollars, provided that the fourth one-fourth comes close to the year’s average through the third quarter.
Let’s dig into Next Insurance and then collate a few other recent data points to expand our understanding of one of startup land’s most interesting genres.
Next Insurance and friends
Next Insurance announced its Series D in September of this year, contributing $250 million to its accountings at a valuation described by Crunchbase News as more than$ 2 billion. What stood out about the round at the time was not that it was so very large, but that it was the second time in less than a year that the company had announced a $250 million round. Its Series C was detailed in October of 2019 and was also worth a quarter billion dollars.
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