Total amount raised
$125 Millions
Latest funding date
11/1/2024
Location
Zopper has successfully raised approximately $125 million to support its growth and expansion in the InsurTech sector. The platform offers innovative insurance technology solutions, helping partners distribute insurance products seamlessly.
Keep reading to explore the intricacies of Zopper's fundraising journey and the investors backing this dynamic platform.
What Is Zopper?
Zopper, founded in 2011, is an InsurTech platform based in Noida, Uttar Pradesh, India. The company was established by Mayank Gupta, Neeraj Jain, and Surjendu Kuila.
Specializing in customized insurance solutions, Zopper collaborates with top insurance providers to create APIs that simplify insurance distribution. Their innovative approach supports partners in seamlessly distributing insurance products.
With a team of 501-1000 employees, Zopper continues to expand its reach and impact in the InsurTech sector.
How Much Funding Has Zopper Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2011
- Lead Investors: Blume Ventures, VenturEast
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
- Series A
- Amount Raised: $5M
- Date: July 2014
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform's capabilities.
- Series A (Second Round)
- Amount Raised: Not publicly disclosed
- Date: April 2013
- Lead Investors: Nirvana Venture Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and enhance market reach.
- Series B
- Amount Raised: $20M
- Date: June 2015
- Lead Investors: Nirvana Venture Advisors, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve technology infrastructure.
- Series C
- Amount Raised: $75M
- Date: September 2022
- Lead Investors: Blume Ventures, Creaegis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance product offerings.
- Series D
- Amount Raised: $25M
- Date: November 2024
- Lead Investors: Elevation Capital, Dharana Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance data science, data engineering, AI/ML capabilities, and improve post-sales and servicing for device and appliance protection businesses.
Total Amount Raised: $125M. Current Valuation: Not publicly disclosed.
Key Investors
- Elevation Capital
- Details: Elevation Capital is a venture capital firm that invests in early-stage and growth-stage companies. They have a strong presence in the technology and consumer sectors.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Swiggy, Paytm, UrbanClap.
- Dharana Capital
- Details: Dharana Capital is a venture capital firm focused on supporting innovative startups. They provide growth capital to companies in high-growth sectors.
- Investment Focus Areas: Technology, financial services.
- Notable Investments: Not publicly disclosed.
- Blume Ventures
- Details: Blume Ventures is an early-stage venture fund that backs startups with disruptive ideas. They are known for their support of technology startups in India.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Unacademy, Dunzo, HealthifyMe.
- Creaegis
- Details: Creaegis is a private equity firm that invests in technology-driven businesses. They focus on digital transformation and growth-stage investments.
- Investment Focus Areas: Technology, digital transformation.
- Notable Investments: Not publicly disclosed.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a global venture capital firm with a focus on early to growth-stage startups. They have a strong track record in the technology sector.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, Shopify, Pinterest.
What's Next for Zopper?
Zopper stands at the cusp of significant growth opportunities, driven by its focus on enhancing digital technology infrastructure and expanding bancassurance offerings. With partnerships spanning 40 insurance companies and over 2500 ecosystem players, the potential for scaling its insurance distribution platform is immense. The recent $25 million Series D funding will bolster its data science, AI, and ML capabilities, positioning Zopper to lead in the insurtech sector.
Future fundraising seems promising, given the successful track record of previous rounds. As Zopper continues to innovate and expand, attracting further investment to support its ambitious growth plans appears likely. However, challenges such as integrating advanced technologies and maintaining competitive advantage in a rapidly evolving market will require strategic navigation.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Zopper and gather other critical business insights.
Sign up for free on Clay and unlock the potential to drive your sales success with unparalleled data and insights.
