Insurtech Policygenius Raises US$125mn in Latest Round

Policygenius, the US-based insurtech marketplace platform has raised US$125mn in its latest funding drive. 

The new capital, executives say, will be used to invest in Policygenius’s core business products and services, which include home, life, disability, and auto insurance. The funds will also be put towards enhancing Policygenius Pro’s no-exam life insurance offerings. 

All the insurtech’s leading investors returned for the latest round, which included KKR, Norwest Venture Partners, and Revolution Ventures. 

New investors included annuity and life insurance carriers such as Brighthouse Financial, Global Atlantic Financial Group, iA Financial Group, Lincoln Financial and Pacific Life.

Policygenius investors demonstrate market confidence

To date, Policygenius, which was founded by Jennifer Fitzgerald in 2014, has raised an impressive $225mn in investor capital. Fitzgerald, who was named the number one Woman in Insurtech in 2022 by Insurtech Digital recently, has been the driving force behind the company’s incredible successes, which enjoyed another mega funding round in 2020, raising $100mn. 

Speaking about the latest funding drive news, she said, “Over the past eight years, we’ve invested in the critical areas of technology, operations and product development to deliver the best outcomes for our customers, carriers, and distribution partners”

She added, “With the support of our new and existing investors, we’re excited to expand our already-large reach across the trillion-dollar insurance market.”