Insurtech Sure has closed on a $100 million Series C funding round led by Declaration Partners and Kinnevik, according to a note from the company. WndrCo and existing investors W. R. Berkley and Menlo Ventures also participated in the funding round. Sure said the additional capital will help boost its global expansion, expedite new product launches, and streamline embedded insurance offerings.
Sure enables digital insurance programs for some of the world’s most recognized brands and carriers. The Sure Platform is designed to accelerate digital transformation and embedded insurance distribution.
Sure reports that in the last 12 months its revenue has doubled. Sure says that customers like Farmers Insurance, Chubb, Intuit, Betterment, and Carvana, are able to focus on delivering core products along with seamless digital experiences. Sure has also launched a “first-of-its-kind” insurance program for several automotive manufacturers and a global credit card network.
Wayne Slavin, Sure’s co-founder and CEO, said the funding will fuel their expansion:
“Insurance, much like financial services, desperately needs modernized technology to meet the ‘right here, right now’ mentality of the modern customer. As carriers continue to prioritize digital transformation and brands expand financial services to include insurance, Sure is the proven platform to power insurance programs for the world’s largest companies.”
Slavin said they are thrilled to work with Declaration Partners and Kinnevik as they expand internationally.
Brian Stern, a Partner at Declaration Partners, explained that Sure’s embedded insurance creates a seamless, convenient, and personalized insurance experience for users.
“This transformational technology reveals a massive global market opportunity, and this new funding will help Sure capitalize on it.”
Ola Nordbye from Kinnevik called Sure the leading enabler for insurance companies”
“We love how Sure removes the complexities of digital insurance software, allowing their clients to focus on what they do best.”