Pie Insurance Raises $45M Series B

Pie Insurance announced a $45m Series B round, bringing its total funding to date to $61m. Participating investors include: SVB Capital, Sirius Group, Greycroft, Moxley Holdings, Aspect Ventures, and Elefund.

Established in 2017, the startup is now available in 19 states “covering more than 60% of the US workers’ compensation market” and expecting to be nationwide by end of year.

“Pie sold its first policy in March 2018, and in the first 11 months since launch the company has generated more than $10 million in written premium as thousands of small business owners have been drawn to the company’s easy-to-use digital experience and competitive prices.”

Get a feel for its UI below:

Bottom Line: No shortage in competitors (btw, Insureon’s total employees count for the year is down 12% according to LinkedIn). Definitely a shortage in success stories. That being said, past performance is not an indicator of future results.