How Much Did Sure Raise? Funding & Key Investors

Sure has participated in five funding rounds, attracting investments from notable venture capital firms such as BluePointe Ventures, Menlo Ventures, Declaration Partners, and Kinnevik. The company offers a comprehensive digital insurance platform that includes solutions for distribution, policy management, claims processing, and API integrations.

Keep reading to explore the intricacies of Sure's fundraising journey and the investors backing this innovative platform.

What Is Sure?

Sure is an embedded insurance technology company based in New York, New York, United States. The company operates in the Financial Services, FinTech, Insurance, and InsurTech industries and has between 501-1000 employees.

Sure provides a comprehensive digital insurance platform that includes solutions for distribution, policy management, claims processing, and API integrations. The company partners with carriers, brands, and marketplaces to build and launch sophisticated digital insurance programs.

How Much Funding Has Sure Raised?

1. Seed Round
   • Amount Raised: USD 2,600,000
   • Date: May 2016
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop the initial version of their digital insurance platform.
2. Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: October 2015
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the company and build a foundational team.
3. Series A
   • Amount Raised: USD 8,000,000
   • Date: June 2017
   • Lead Investors: IA Capital Group
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the platform's capabilities and scale operations.
4. Series B
   • Amount Raised: USD 12,500,000
   • Date: June 2019
   • Lead Investors: W. R. Berkley
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance product offerings and enter new markets.
5. Series C
   • Amount Raised: USD 100,000,000
   • Date: October 2021
   • Lead Investors: Declaration Partners, Kinnevik
   • Valuation at Round: USD 550,000,000
   • Motivation Behind the Round: To accelerate global expansion, expedite new product launches, and streamline embedded insurance offerings.

Total Amount Raised: USD 123,100,000. Current Valuation: USD 550,000,000.

Key Investors

• Declaration Partners
  • Details: Declaration Partners is a New York-based investment firm. Brian Stern, a partner at Declaration Partners, highlighted the firm's attraction to Sure due to CEO Wayne Slavin's visionary leadership and the massive global market for Sure's technology.
  • Investment Focus Areas: Transformational technology, consumer experience.
  • Notable Investments: Sure.
• Kinnevik
  • Details: Kinnevik is a European growth investor. Ola Nordbye from Kinnevik mentioned that some of their portfolio companies already use Sure.
  • Investment Focus Areas: Growth investments, customer experiences, new profit pools.
  • Notable Investments: Sure.
• W. R. Berkley
  • Details: W. R. Berkley is an existing backer of Sure and participated in the Series C funding round. The company is a major player in the insurance industry.
  • Investment Focus Areas: Not publicly disclosed.
  • Notable Investments: Sure.
• Menlo Ventures
  • Details: Menlo Ventures is a venture capital firm that invests in early-stage and growth-stage companies. They have a history of backing successful technology startups.
  • Investment Focus Areas: Technology, healthcare, consumer services.
  • Notable Investments: Uber, Roku, Sure.
• IA Capital Group
  • Details: IA Capital Group is a venture capital firm that focuses on insurtech and fintech investments. They led Sure's Series A funding round.
  • Investment Focus Areas: Insurtech, fintech, financial services.
  • Notable Investments: Sure.

What's Next for Sure?

Sure's future is brimming with opportunities, driven by the massive global market for embedded insurance technology. The company plans to accelerate its global expansion, targeting regions like Europe, Latin America, and Asia. This expansion, coupled with the launch of new products and the streamlining of embedded insurance offerings, positions Sure to capitalize on the growing demand for digital insurance solutions.

Given the significant market potential, Sure is likely to pursue additional funding rounds to support its ambitious growth plans. The company's impressive revenue growth and profitability since 2019 make it an attractive prospect for investors. However, Sure will need to navigate challenges such as maintaining innovation, managing regulatory complexities in new markets, and scaling operations efficiently.

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