Obie raises $25 million

Obie, which offers insurance for landlords and real estate investors, has raised $25.5 million in a Series B funding round led by Battery Ventures, with participation from Brick and Mortar VC, DivcoWest, and several real estate funds and investor groups. This new round of funding brings Obie’s total equity raised to date to $39 million.

Founded in 2017, Obie claims to have secured over $20 billion in total coverage. It also says that it has over 75 partners in proptech and fintech, including Baselane, Awning, and Marketplace Homes.

“We’re excited to have the ongoing support of our investors as we continue to build insurance products that drive efficiency and change the way insurance is bought and sold. This funding supports the future of embedded insurance, as we expand our partnerships across industries and offer additional insurance products to clients.” – Obie co-founder and CEO, Ryan Letzeiser.

“Despite the recent volatility in the real estate and insurtech markets, we believe Obie’s approach to growth—namely, by using an API-first approach and embedding their technology within their large ecosystem partners—is the right one for this market, and the company’s recent success demonstrates this. We’re excited to recommit to Obie and continue to help the company scale.” – Michael Brown, general partner at Battery Ventures.