Next Insurance Raises $83 Million in Series B
Next Insurance, a digital insurance company for small businesses, secured $83 million in a Series B round led by Redpoint Ventures. Other investors that participated in the round include Nationwide, Munich Re, American Express Ventures, Ribbit Capital, TLV Partners, SGVC, and Zeev Ventures. Elliot Geidt, managing director of Redpoint Ventures, will also join the board of Next Insurance. The Series B round brings the company’s total funding to $131 million in just two years.
Next Insurance plans to use this funding to continue its expansion throughout the U.S. as a full service insurance carrier, push boundaries for handling claims, offer coverage to many more classes of business, and significantly grow internal operations in both the U.S. and Israel.