DENVER, March 25, 2021 /PRNewswire/ — Pie Insurance plan, an insurtech specializing in workers’ comp insurance for modest enterprises, right now declared the completion of a $118 million Collection C funding spherical. Investors Allianz X and Acrew Cash led the spherical, and existing traders Greycroft, SVB Capital, SiriusPoint, Elefund, and Moxley Holdings also participated in the spherical.
Pie Insurance coverage is Creating the Foreseeable future of Little Business Insurance policies with $118 Million in Collection C Funding
Pie Insurance coverage was crafted on a foundation of knowledge and state-of-the-art analytics that power its full protection encounter for compact firms. Present-day expense will empower Pie to devote further more in know-how and automation, as properly as to increase its core workers’ comp insurance organization, and lay the groundwork for new small business choices in 2021 and past.
“Commercial coverage is lengthy overdue for the on the internet transformation that personal lines have benefited from for yrs,” explained John Swigart, Co-founder and CEO of Pie Insurance. “Now additional than ever, modest corporations deserve to be supported, not hindered, by their insurance policy enterprise. Pie is major the demand in constructing a additional affordable and modern insurance practical experience, and present day funding permits us to broaden our functions and make investments in technologies and tools that will have an rapid effects on our clients and associates.” 
“Pie is basically transforming the professional property and casualty insurance industry in the U.S.,” reported Dr. Nazim Cetin, CEO of Allianz X. “Making use of pioneering technological innovation, Pie has revolutionized the client working experience, ensuring that a earlier-prolonged approach has grow to be much more economical for everyone included. The organization has huge progress probable significantly past its recent main company. For Allianz, there are plenty of opportunities for cooperation with Pie, for instance, in the joint development and sale of coverage remedies. We also see collaboration potential with some of our other B2B portfolio firms.”
“In significantly less than 4 a long time, Pie has come to be one of the quickest growing insurtechs in the place, and we’re thrilled to husband or wife with a staff that has a enthusiasm for improving compact company insurance policy via know-how,” mentioned Lauren Kolodny, Founding Spouse at Acrew Money. “Pie’s influence on little enterprises has been amazing to watch, and we believe that they are a single of the most compelling organizations in insurance coverage nowadays.”
This funding spherical follows Pie’s $127 millionCollection B extension round in Could 2020, in which it shaped Pie Carrier Holdings with a $100 million equity money motivation to create and acquire licensed insurance policies companies. In overall, Pie has raised more than $300 million in funding since becoming founded in 2017.
About Pie Insurance plan
Pie Insurance coverage is modernizing modest business insurance plan by automating the entire encounter to give simple, dependable, and inexpensive protection. Pie’s unique combination of modern technological innovation, advanced analytics, and business know-how permits discounts of up to 30% for small organization proprietors on AM Most effective A- (Fantastic) rated workers’ comp insurance policies directly by means of its web page or via partner agents. Since 2017, Pie has been given about $300M in funding, developed its gross published premium to over $100M, and partnered with above 1,000 businesses nationwide.
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