Latest Startups Headlines
All the headlines from our Startups Topic Page, ordered by recency.
Startup Auto Insurer Root Reports $363M Loss in 2020; Will Spend to Grow in 2021
Mar 4 2021 // Root Inc.’s second earnings report as a public company reveals that the digital auto insurance startup continues to lose substantial amounts of money but it is generating substantial premium and customer growth...
Alphabet-Backed Startup Insurer Oscar Health Raises $1.2 Billion in IPO
Mar 3 2021 // Oscar Health Inc., a health insurance startup backed by Google parent Alphabet Inc., sold shares in its initial public offering (IPO) on Tuesday at $39 apiece, above its target range, to raise $1.2 billion. The IPO gives...
AI Startup that Uses AI and Partners with Re/insurers, Now Is Seeking Canadian IPO
Feb 10 2021 // Farmers Edge Inc., a firm that uses artificial intelligence to help growers boost crop yields, is seeking to raise about C$100 million ($79 million) in an initial public offering to strengthen its finances and repay...
UK Insurtech Zego Partners with Irish Mobility Startup Brite to Offer Electric Fleet Cover
Feb 9 2021 // Irish mobility startup Brite has partnered with London-based mobility insurance provider Zego to expand its fleet offering of e-mopeds, e-scooters and e-bikes across Ireland. The partnership between Brite and Zego means...
SEC Sues Giuliani Associates Parnas, Correia Alleging Fraud Over Insurance Startup
Feb 4 2021 // The U.S. Securities and Exchange Commission sued two associates of Rudy Giuliani, the former New York City mayor and lawyer for Donald Trump, alleging they defrauded investors of $2 million in a company that never got off...
Insurance Verification Startup TrustLayer Raises $6.6M from BrokerTech, Ventures
Feb 3 2021 // TrustLayer, developer of a proof-of-insurance risk management platform, has raised $6.6 million in seed funding from venture investors, insurance brokers and others. “Verification of insurance and business...
Deadline Approaches for New York-Bermuda InsurTech Early Stage Competition
Jan 22 2021 // The submission deadline for the 2021 InsurTech Early-Stage Competition is approaching on January 29, 2021. Global insurtech hub InsurTech NY and the Bermuda Business Development Agency (BDA), Bermuda’s independent...
Startup Loop Wins Funding for Fairer Auto Insurance Rating Model That Uses AI
Jan 19 2021 // Loop, a managing general agency focused on building an auto insurance model that does not utilize credit scores and ZIP codes, announced the close of a $3.25 million seed round last week. Freestyle.VC led the funding...
Business Startups Surged Amid Covid-19 Pandemic
Jan 19 2021 // The surge of U.S. business formations in the back half of 2020 has been one of the pandemic’s many surprises. After cratering by 30% in the weeks following the March lockdowns, paperwork filed by prospective...
Insurance Veterans Lead Confianza, Big Data Analytics Startup for Smaller Insurers
Jan 19 2021 // Two insurance industry veterans have launched Confianza, a new data analytics company focused on smaller insurers. One co-founder – Jeffrey Glazer – is a past chief executive officer of Activer Solutions and Insurity,...
Judge Throws Out Apple Copyright Claims Against Security Software Startup Corellium
Dec 30 2020 // A federal judge in Florida on Tuesday dismissed Apple Inc.’s copyright infringement claims against a Florida startup whose software helps security researchers find vulnerabilities in Apple products including the...
German Insurtech Startup Wefox Expects Profitable 2021
Dec 15 2020 // BERLIN – German insurance technology startup Wefox expects to achieve revenue of 300 million euros ($365 million) and be profitable at the operating level next year, its founder and CEO, Julian Teicke, said in an...
UK Insurtech Startup battleface Raises $12M in Funding from U.S. Venture Capital Firm
Dec 11 2020 // UK startup battleface Inc., a company that specializes in tech-enabled global travel insurance, announced a $12-million Series A financing round from Drive Capital, a Columbus, Ohio-based venture capital firm. The...
Why It’s a Good Time for Insurtechs to Be Thinking About Mergers
Oct 30 2020 // The drumbeat for insurtechs to pursue a merger, acquisition or partnership is getting louder, with the number likely to substantially grow in the months ahead, an insurance industry expert believes. “InsurTech is...
Startup Auto Insurer Root Raises $724.4 Million in IPO
Oct 28 2020 // Automobile insurance startup Root Inc. sold shares in its initial public offering (IPO) on Tuesday at $27 apiece, above its target range, to raise $724.4 million, the company said. Root, which has $200 million in debt,...
Startup Personal Lines Insurer Root Looking to Raise $604 Million in IPO
Oct 20 2020 // Automobile insurance startup Root Inc. said on Tuesday it plans to raise as much as $604.1 million in its initial public offering on the Nasdaq, the latest in a line of insurers looking to tap the current boom in U.S....
InsurTech NY Announces Its 2020 Accelerator Cohort
Oct 13 2020 // InsurTech NY, an InsurTech community in the New York metro area, has announced its growth-stage InsurTech accelerator cohort. The 22 startups were selected to participate in its insurance carrier and broker sponsored...
Formation of More ‘Class of 2020’ Reinsurers Unlikely
Sep 25 2020 // The Class of 2020 already has a new member, but it’s not a true startup, the chair of the company said recently. Speaking at the KBW Insurance Conference in early September, Sid Sankaran, chair of Third Point Re, was...
As Wildfires Spread, Public Safety Tech Startups Lack Venture Capitalists’ Backing
Sep 24 2020 // Silicon Valley’s innovation engine has been slow to produce useful new tools to help firefighters like Dave Winnacker extinguish the deadly blazes that each year fill California’s skies with smoke. Winnacker, a...
Startups Developing Technologies to Clean Air in Workplaces of Coronavirus
Sep 21 2020 // Smithfield Foods Inc. thought it was doing great. In the first quarter of this year, the pork giant’s earnings were up 190% over the same period in 2019. Then the pandemic hit, and the close quarters of meatpacking...
