Funding round
wefox Series B
wefox, which works in digital insurance platform development in Zurich, raised $125M in a Series B round announced on 6 Mar 2019, led by Mubadala. 12 firms took part. It is wefox's first venture round on record.
$125M
Amount raised
Not disclosed
Post-money valuation
12
Investors
1 lead
Valuation
What this round says about the price
wefox did not disclose a valuation in this round. It is wefox's first venture round on record, 4 years after it was founded in 2015. It is 9.2% of the $1.35B wefox has raised in the venture rounds on record. wefox raised again 27 months later: a Series C round of $650M in Jun 2021, at $3.00B post-money.
wefox's funding rounds
wefox has 4 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Mubadala led the round with 11 other firms.
Lead investor
- Mubadala backs 42 venture-backed companies new investor
Also in the round
- Creditease new investor
- backs 112 venture-backed companies new investor
- Goldman Sachs backs 218 venture-backed companies new investor
- Idinvest Partners new investor
- backs 97 venture-backed companies new investor
- Target Global new investor
- H14 vc new investor
- Sound Ventures backs 114 venture-backed companies new investor
- G Squared backs 40 venture-backed companies new investor
- Salesforce Ventures backs 314 venture-backed companies new investor
- backs 7 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- 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 4.5 times the median. The closest in time, other companies' Series B rounds in Insurance - Agents, Carriers & Brokers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Pie Insurance Insurance - Agents, Carriers & Brokers | 5 Mar 2019 | $45M | not disclosed | not named |
| 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 3 sources.
Questions
Frequently asked
How much did wefox raise in its Series B round?
wefox raised $125M in its Series B round, announced in Mar 2019.
Who led wefox's Series B round?
Mubadala led it, with Creditease, Seedcamp, Goldman Sachs, Idinvest Partners and Horizons Ventures and 6 more.
What was wefox'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 4.5 times the median.
Did wefox raise again after this round?
Yes: a Series C round in Jun 2021 of $650M at $3.00B post-money.