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VCs are cutting checks remotely, but deal volume could be slowing

As Next Insurance makes its first acquisition, insurtech looks energetic

Next Insurance, a startup that competes within the small enterprise (SMB) insurance coverage market, introduced this morning that it has acquired its first firm.

Purchasing Juniper Labs will assist the unicorn enhance its in-house information science workforce, and the smaller agency’s predictive analytics know-how could also be utilized throughout the buying firm’s portfolio of insurance coverage merchandise.

Next Insurance raised $250 million earlier this yr at a valuation of $2 billion, making it one of many richest startups to compete within the broad insurtech area of interest.

After talking with Next about its acquisition and digging into its economics and up to date development, The Exchange additionally examined Getsafe’s latest spherical (European digital insurance coverage startup), took a have a look at NOW Insurance’s newest funding (industrial insurance coverage startup) and requested Noyo’s Shannon Goggin to fill us in in regards to the insurtech VC startup market itself, provided that her medical health insurance API firm simply raised its Series A.

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The Exchange explores startups, markets and cash. Read it each morning on Extra Crunch, or get The Exchange publication each Saturday.

The mixed image that seems is one among an energetic market, doubtless accelerated by the IPOs of insurtech unicorns Lemonade and Root, Hippo’s newest megaround and Metromile’s impending public debut by way of a blank-check firm.

Adding to the snapshot of bustling exercise, TechCrunch not too long ago explored funding traits within the insurtech sector, which is on observe for a file yr of enterprise rounds and enterprise {dollars}, offered that the fourth quarter comes near the yr’s common by the third quarter.

There are some issues, together with accounting shakeups at some main insurtech gamers as they modify cede premiums, the results of which is smaller revenues and stronger margins. How traders will weigh their new financial profiles isn’t but clear.

Let’s dig into Next Insurance after which collate a couple of different latest information factors to broaden our understanding of one among startup land’s most attention-grabbing genres.

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Next Insurance and buddies

Next Insurance introduced its Series D in September of this yr, including $250 million to its accounts at a valuation described by Crunchbase News as greater than $2 billion. What stood out in regards to the spherical on the time was not that it was so very massive, however that it was the second time in lower than a yr that the corporate had introduced a $250 million spherical. Its Series C was detailed in October of 2019 and was additionally value 1 / 4 billion {dollars}.

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