Sure, the insurance technology platform, has raised an additional $12.5 million in a Series B funding round.
The investment was led by W.R. Berkley Corporation, an insurance holding company that is among the largest specialty commercial writers in the US and operates worldwide in the property casualty insurance business.
Sure offers dozens of insurance products through its digital platform crossing both novel coverages like rideshare and mobility insurance, and more traditional commercial coverages like renters, travel, rental car, smartphones and more.
“The funding by W. R. Berkley Corporation is a testament to our skill and overall ability to create value for insurers and customers unlike anyone else,” says Wayne Slavin, co-founder and chief executive officer at Sure.
“Sure’s best in class technology platform is modernising the way insurers offer insurance and the way consumers access it. We’re excited to both lead this funding round and to partner with Sure to develop innovative digital solutions to better serve our customers,” says Michael Nannizzi, director of investments at W. R. Berkley Corporation.
Sure is backed by notable players across the investor spectrum. Through its investment, W. R. Berkley Corporation joins a diverse and elite group of investors, including traditional venture capitalists and insurance industry strategic investors.
The new funding will enable the company to scale the Sure app (consumer product), the Sure platform (for global consumer brands and carriers), and Sure connect (for affinity programs, e-commerce and fintech partners).
Additionally, the fundraising will further accelerate the growth and continued technological development of Sure’s technology, APIs and insurance-as-a-service solution.