Funding round
Pie Insurance Series B
Pie Insurance, which works in small business insurance solutions in Draper, raised $45M in a Series B round announced on 5 Mar 2019. 10 firms took part. It is Pie Insurance's second venture round on record; the one before was a Series A in Jul 2018.
$45M
Amount raised
Not disclosed
Post-money valuation
10
Investors
no lead named
Valuation
What this round says about the price
Pie Insurance did not disclose a valuation in this round. It came 8 months after Pie Insurance's Series A. It is 9.2% of the $489M Pie Insurance has raised in the venture rounds on record. Pie Insurance raised again 24 months later: a Series C round of $118M in Mar 2021.
Pie Insurance's funding rounds
Pie Insurance has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
10 firms took part; no lead investor was named.
Investors
- SVB Capital new investor
- Sirius Group new investor
- Greycroft backs 236 venture-backed companies new investor
- Moxley Holdings new investor
- backs 33 venture-backed companies new investor
- backs 21 venture-backed companies new investor
- backs 97 venture-backed companies new investor
- backs 24 venture-backed companies new investor
- backs 158 venture-backed companies new investor
- Sirius Group 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
23 Series B rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $28M, and this round was 1.6 times the median. The closest in time, other companies' Series B rounds in Insurance - Agents, Carriers & Brokers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| wefox Insurance - Agents, Carriers & Brokers | 6 Mar 2019 | $125M | not disclosed | Mubadala |
| Alan Insurance - Agents, Carriers & Brokers | 17 Feb 2019 | $45M | not disclosed | Index Ventures |
| Insurance - Agents, Carriers & Brokers | 16 Apr 2019 | $28M | not disclosed | Tola Capital |
| Insurance - Agents, Carriers & Brokers | 25 Feb 2019 | $15M | not disclosed | Global Founders Capital |
| Insurance - Agents, Carriers & Brokers | 22 Jan 2019 | $43M | not disclosed | Cox Enterprises |
| Insurance - Agents, Carriers & Brokers | 16 Jan 2019 | $25M | not disclosed | Sequoia India |
| Insurance - Agents, Carriers & Brokers | 9 May 2019 | $5.3M | not disclosed | True Ventures |
| Insurance - Agents, Carriers & Brokers | 18 Jun 2019 | $42M | not disclosed | Target Global |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Pie Insurance raise in its Series B round?
Pie Insurance raised $45M in its Series B round, announced in Mar 2019.
Which investors took part in Pie Insurance's Series B round?
SVB Capital, Sirius Group, Greycroft, Moxley Holdings, Aspect Ventures and Elefund and 4 more.
What was Pie Insurance's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Insurance - Agents, Carriers & Brokers?
23 Series B rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $28M, and this round was 1.6 times the median.
Did Pie Insurance raise again after this round?
Yes: a Series C round in Mar 2021 of $118M.