Steadily raises $30 million
Landlord insurance startup Steadily announced $30 million in Series C funding at a $355 million valuation.
The latest round brings Steadily’s total funding to $89.5 million, following its $28.5 million Series B in 2023. The new investment was led by Two Sigma Ventures with participation from Zigg Capital, Clocktower Technology Ventures, Belfer Investment Partners, Nine Four Ventures, and Matrix Partners.
Founded in 2020, Steadily claims to have $250 million in annualized gross written premiums. It offers coverage in all fifty states through five MGA programs and an insurance agency, as well as through its own carrier, Steadily Insurance Company, which began writing property and casualty dwelling fire business in Q4 2024.
The startup says that one of its fastest growth engines is proptech integrations – Steadily has integrated more than 400 companies including Roofstock, TurboTenant, FurnishedFinder, and BiggerPockets. The integrations ingest property data automatically so users can see estimates of what insurance would cost for a property with zero clicks.
“The idea for Steadily was planted eight years ago when I had a comically difficult time getting insurance for my first rental property. After Steadily launched, I became its first customer. That made it easy for us to empathize with our customers, because we are them. We’ve invested tens of millions in tech so someone can come to Steadily and purchase high-quality insurance in seconds. This latest round lets us push the envelope of how speedy our service and claims can be.” – Darren Nix, Co-Founder and CEO of Steadily.
“Despite owning 40% of America’s rental units, individual landlords have been dramatically underserved by the insurance industry. Steadily created a solution specifically designed for rental property owners, not just retrofitted homeowner policies. As landlords themselves, they understood the pain points firsthand and built technology that simplifies the entire process. Their impressive growth confirms they’re addressing a significant need in the market. We’re thrilled to back Darren and the Steadily team as they continue to transform insurance for America’s millions of property investors.” – Colin Beirne, Partner at Two Sigma Ventures.
