AAA Sure seeks out WR Berkley for series B round

Sure seeks out WR Berkley for series B round

US-based online insurance provider Sure has secured $12.5m in a series B round that was led by insurance firm WR Berkley Corporation.

Founded in 2014, Sure provides an online platform and mobile app that allows consumers and companies to find and buy personal, business and travel insurance. It offers policies covering property, health, travel, ride hailing, liability, commercial business in addition to individual items such as smartphones and tablets.

The round increased Sure’s total funding to $23.1m, it said. The proceeds will be used to further develop its app and platform, as well as its connect service for affinity programs, e-commerce companies and financial technology partners.

Michael Nannizzi, director of investments at WR Berkley Corporation, said: “Sure’s best in class technology platform is modernising the way insurers offer insurance and the way consumers access it. We are excited to both lead this funding round and to partner with Sure to develop innovative digital solutions to better serve our customers.”

Venture capital firm IA Capital led Sure’s $8m series A round in mid-2017, investing alongside insurance firms Assurant, AmTrust and Nationwide – the latter taking part through its corporate venturing arm, Nationwide Ventures – as well as FF Venture Capital and Menlo Ventures.

Fosun Kinzon Capital, a corporate venturing subsidiary of diversified conglomerate Fosun, took part in a $2.6m round for the company in 2016, along with FF Venture Capital and Montage Ventures.

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