Insurtech startup Pie Insurance announced on Tuesday it has achieved significant growth in the number of team members, online quote tool usage, and written premium six months since raising $4.3 million through Series B Funding Round, which was led by Moxley Holdings and Elefund, with participation from investors, including SVB Capital, Sirius Group, Greycroft, and Aspect Ventures.
As previously reported, Pie describes itself as a fast-growing insurtech startup that offers workers’ compensation insurance directly to small businesses. The company revealed it began offering workers’ compensation insurance policies in 2018 with the mission of helping small businesses experience true savings and an unmatched level of service. Speaking about the company’s growth and development, John Swigart, CEO of Pie Insurance, stated:
“The successes that Pie has achieved since our latest round of funding are incredible. At that time, Pie had generated more than $10 million in written premium. Six months later, that number has jumped to more than $30 million. Likewise, our team has grown by 130%, and we have an additional 20 open positions in our Denver and Washington, DC offices. Our rapid growth demonstrates the value Pie brings to the small business community, and we’re continuing to scale to meet the demands of our market.”
Pie further noted that in the past year and half its online quote tool has received more than 75,000 submissions from small business owners and agency partners seeking more affordable workers’ comp policies. Pie added that its customers continue to validate the company’s mission to simplify workers’ comp insurance, rating Pie “Excellent” on Trustpilot.
