Bregal Sagemount and FTV Capital invest in Neptune Flood

Private equity firms Bregal Sagemount and FTV Capital made a strategic growth investment in Neptune Flood, a provider of flood insurance. Sagemount and FTV will acquire a substantial minority stake in the company, with Neptune CEO and management maintaining majority ownership. Financial terms of the transaction were not disclosed.

Launched in 2018 and based in St. Petersburg, Florida, Neptune provides flood insurance policies to over 150k homeowners, renters, and businesses in 48 states and Washington, D.C.

“We are thrilled to be partnering with Sagemount and FTV as we continue to build our business and achieve our mission of making flood insurance more accessible, helping customers better protect their homes and businesses from the devastating effects of flooding. Both Sagemount and FTV have established track records of insurtech growth investments and expertise in scaling technology-enabled businesses, something that set them apart from other investors we saw in the market and made them the ideal partners for our next phase of growth.” – Trevor Burgess, president and CEO of Neptune.

“Sagemount has been investing in and following the insurance and MGA markets for several years and we are incredibly impressed by the innovative technology that Neptune has built. The Company has truly disrupted the traditional flood insurance market and we are excited to support them as they continue to bring their insurtech solution to more customers.” – Blair Greenberg, Partner at Sagemount.

“We are excited to support Neptune as they continue to transform the way that homeowners and businesses purchase flood insurance – increasing consumer awareness and adoption. Neptune’s visionary management team has built a differentiated technology platform that we believe has positioned the company for expansive growth in the years ahead, and we welcome the opportunity to leverage our domain expertise and strategic relationships in our Global Partner Network® to contribute to the company’s growth journey.” – Mike Vostrizansky, partner at FTV.