Steadily raises $27.2 million
Landlord insurance company Steadily has raised $27.2 million, bringing its total funding to $31 million. The new investment was led by Matrix Partners and Zigg Capital with participation from Vesta Ventures and existing investors Peak State Ventures, Nine Four Ventures, and Next Coast Ventures.
Founded in 2020, Steadily serves the 17 million individual rental property owners who collectively own the large majority of single family and small apartment rentals across the US. The startup offers options for all property types – from single family rentals, to fix and flips, to short-term rentals, and beyond.
Steadily began operations as a retail agency, working with carriers and wholesalers nationwide. It now has binding authority with existing carriers and expanded operations to include program administrator capabilities.
“Steadily was created to offer landlords insurance that works like the other modern tools that they love. As landlords ourselves, we understand the unique needs of rental property owners and real estate investors. That’s why we built digital self-serve and deliver an exceptional customer experience at every touch-point. Customers love what we’ve built and our growth has validated that the market demand is huge. The additional investment will let Steadily scale quickly to meet growing consumer demand.” – Steadily founder and president, Darren Nix.
“We look for companies that have the potential to dramatically improve the existing industry and provide an exceptional experience for customers. Traditionally, insurance has a reputation for outdated processes and lackluster service. Steadily has proven itself as a leader in the space by pairing exceptional tech with a customer-centric approach. The team is constantly iterating to best itself, while fulfilling an unmet need in the market. Steadily is challenging and changing the insurance landscape for rental property owners.” – Jake Jolis, partner, Matrix Partners.
“We are seeing the widespread technological disruption of traditional industries, from banking, to insurance, hospitality and beyond. When it comes to real estate, however, the category has been slower to evolve. Modern consumers are demanding better user experiences and Steadily delivers here with an intuitive and thoughtfully designed insurance offering. With multiple smart integrations, Steadily enables landlords to thrive in today’s emerging digital real estate ecosystem.” – Dave Eisenberg, partner at Zigg Capital.