Funding round
Pie Insurance Series D
Pie Insurance, which works in small business insurance solutions in Draper, raised $315M in a Series D round announced on 1 Sep 2022, led by Centerbridge Partners and Allianz X. 6 firms took part. It is Pie Insurance's fourth venture round on record; the one before was a Series C in Mar 2021.
$315M
Amount raised
Not disclosed
Post-money valuation
6
Investors
2 leads
Valuation
What this round says about the price
Pie Insurance did not disclose a valuation in this round. It came 18 months after Pie Insurance's Series C. It is 64% of the $489M Pie Insurance has raised in the venture rounds on record. No later venture round is on record for Pie Insurance.
Pie Insurance's funding rounds
Pie Insurance has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Centerbridge Partners and Allianz X led the round with 4 other firms.
Lead investors
- backs 11 venture-backed companies new investor
- Allianz X backs 23 venture-backed companies new investor
Also in the round
- White Mountains Insurance Group new investor
- Gallatin Point Capital new investor
- Greycroft backs 236 venture-backed companies new investor
- backs 97 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
10 Series D rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $100M, and this round was 3.1 times the median. The closest in time, other companies' Series D rounds in Insurance - Agents, Carriers & Brokers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| wefox Insurance - Agents, Carriers & Brokers | 12 Jul 2022 | $400M | $4.50B | Mubadala |
| Insurance - Agents, Carriers & Brokers | 1 Nov 2022 | $70M | not disclosed | Dawn Capital |
| Insurance - Agents, Carriers & Brokers | 12 Apr 2022 | $200M | $2.20B | Goldman Sachs Asset Management and B Capital |
| Kin Insurance Insurance - Agents, Carriers & Brokers | 1 Mar 2022 | $82M | not disclosed | QED Investors |
| Insurance - Agents, Carriers & Brokers | 18 Jul 2023 | $40M | $364M | not named |
| Devoted Health Insurance - Agents, Carriers & Brokers | 8 Oct 2021 | $1.20B | $12.70B | not named |
| Insurance - Agents, Carriers & Brokers | 27 Oct 2021 | $255M | $1.10B | General Atlantic and Multiples |
| Insurance - Agents, Carriers & Brokers | 4 Oct 2021 | $100M | $900M | Thomvest Ventures and OMERS Private Equity |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did Pie Insurance raise in its Series D round?
Pie Insurance raised $315M in its Series D round, announced in Sep 2022.
Who led Pie Insurance's Series D round?
Centerbridge Partners and Allianz X led it, with White Mountains Insurance Group, Gallatin Point Capital, Greycroft and Acrew Capital.
What was Pie Insurance's valuation at the Series D round?
It was not disclosed.
How does it compare with other Series D rounds in Insurance - Agents, Carriers & Brokers?
10 Series D rounds in Insurance - Agents, Carriers & Brokers within a year either side disclosed an amount; the median was $100M, and this round was 3.1 times the median.