I’m excited to announce that we’ve raised a new round of financing led by CapitalG, Alphabet’s independent growth fund, with participation from FinTLV, and existing investors Munich RE Group. I’m thankful to have Sumiran Das from CapitalG joining our board of directors, as I believe he’ll bring amazing value to our customers, our team and the company as we enter our next phase of growth.
It’s hard to believe four years have already passed since we started Next Insurance. We are constantly thinking of ways we can better serve our small business customers, improve our products, solve new pain points and deliver a phenomenal customer experience. We believe insurance is a social good and by placing focus on the customer, leveraging emerging technologies and by reminding consumers that insurance is a product designed to help — insurtech companies are breathing new life into a centuries-old industry.
Though the past year has been a difficult one felt around the world, this funding milestone is a natural point to step back, reflect and thank the people who have helped us get here. Our customers top that list. Many in the small business community are struggling amidst a global pandemic and economic crisis. We need to continue to do what we can to help them through this difficult time so that our economy can emerge even stronger on the other side.
I give sincere thanks to our customers, partners, investors and the entire Next Insurance team for helping us move many steps closer to achieving our mission over these past 4.5 years. Without consistent and constructive feedback from our customers — everyone from accounting and construction, to fitness and retail — we wouldn’t be as successful as we are today.
We got into this business for you — to help simplify insurance, give you the protection you need, and save you time and money. We know what it means to have a small business and so much invested in its success. We want you to have an easier path than we did finding quality services targeted at small businesses.
Next Insurance has come a long way in four years, going from concept to a company now valued, based on this new financing, at over $2 billion. That said, Next Insurance is still a young company with plenty of new developments and milestones in front of us. It’s been the customer obsession and hard work of the entire Next Insurance team that has gotten us to this point, but it’s not the time to let up.
With the new financing, we are on a mission to develop new products, improve our existing coverage and continue to enhance what we believe is one of the best customer experiences in the insurance industry. If we do those things well and maintain our customer focus, this won’t be the last milestone we’ll celebrate as a company.
Thank you all so much for your support!