Pie Insurance Raises $11M

Pie Insurance announced the completion of an $11M Series A funding round, bringing the company’s total funding to date to $15.3m. The round was led by Greycroft, and included participation from Aspect Ventures, as well as existing investors Sirius Group, Moxley Holdings, and Elefund.

Founded in May 2017, Pie Insurance offers workers’ compensation insurance to small businesses. The new funds will be used to scale the company’s operations and to expand geographically.

“Pie combines two elements that really stand out – a unique set of underwriting data and an experienced founder who was instrumental in building an online insurance company that was sold for over a billion dollars. They have already accomplished a lot, which is particularly noteworthy because they launched the company only a little more than a year ago.” – Partner and cofounder of Greycroft, Ian Sigalow.

“SMB owners are unfairly burdened by an outdated business model that requires too much of their time and effort in order to meet their insurance needs. We can remove these hurdles for a larger number of small businesses with this investment.” – cofounder and CEO of Pie Insurance, John Swigart.