Next Insurance secured another $250 million in financing designed to fuel continued national expansion of its digital small business insurance offerings.
CapitalG, Alphabet/Google’s independent growth fund, led the Series D round. But existing investor Munich Re Group also participated in the new capital raise, as did FinTLV, a global InsurTech venture capitalist.
As part of the new funding round, CapitalG Partner Sumiran Das will join the Next Insurance board of directors.
“We believe that there is an opportunity to use technology to transform the small business insurance experience in the U.S. and build a national insurance leader,” Das said in prepared remarks. “Next Insurance has the right team and capabilities to capitalize on this vision and is well on its way to doing so.”
To date, Next Insurance has raised $631 million, including a $250 million financing round from Munich Re in October 2019.
The technology-oriented carrier has now raised