Funding round
Pie Insurance Series A
Pie Insurance, which works in small business insurance solutions in Draper, raised $11M in a Series A round announced on 1 Jul 2018, led by Greycroft. 5 firms took part. It is Pie Insurance's first venture round on record.
$11M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Pie Insurance did not disclose a valuation in this round. It is Pie Insurance's first venture round on record, 1 year after it was founded in 2017. It is 2.2% of the $489M Pie Insurance has raised in the venture rounds on record. Pie Insurance raised again 8 months later: a Series B round of $45M in Mar 2019.
Pie Insurance's funding rounds
Pie Insurance has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Greycroft led the round with 4 other firms.
Lead investor
- Greycroft backs 236 venture-backed companies new investor
Also in the round
- backs 33 venture-backed companies new investor
- Sirius Group new investor
- Moxley Holdings new investor
- backs 21 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, sales and marketing, scaling operations and working capital.
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
24 Series A rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $11M, and this round was close to the median. The closest in time, other companies' Series A rounds in Insurance - Agents, Carriers & Brokers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Insurance - Agents, Carriers & Brokers | 18 Jul 2018 | $34M | not disclosed | Bain Capital Ventures |
| Insurance - Agents, Carriers & Brokers | 4 Jun 2018 | $30M | not disclosed | Valar Ventures |
| Insurance - Agents, Carriers & Brokers | 19 Jun 2018 | $10M | not disclosed | Bessemer Venture Partners |
| Insurance - Agents, Carriers & Brokers | 26 Sep 2018 | $20M | not disclosed | The Co-operators |
| Alan Insurance - Agents, Carriers & Brokers | 10 Apr 2018 | $28M | not disclosed | Index Ventures |
| Insurance - Agents, Carriers & Brokers | 30 Oct 2018 | $11M | not disclosed | Costanoa |
| Insurance - Agents, Carriers & Brokers | 30 Apr 2018 | $10M | not disclosed | Moor Davidow Ventures |
| Insurance - Agents, Carriers & Brokers | 27 Nov 2018 | $10M | not disclosed | .406 Ventures and Hudson Structured Capital Management |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Pie Insurance raise in its Series A round?
Pie Insurance raised $11M in its Series A round, announced in Jul 2018.
Who led Pie Insurance's Series A round?
Greycroft led it, with Aspect Ventures, Sirius Group, Moxley Holdings and Elefund.
What was Pie Insurance's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Insurance - Agents, Carriers & Brokers?
24 Series A rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $11M, and this round was close to the median.
Did Pie Insurance raise again after this round?
Yes: a Series B round in Mar 2019 of $45M.