Actual estate-focused insurtech Obie introduced it obtained $25.5 million in funding.
The Sequence B funding brings Obie’s whole raised to $39 million because it was based in 2017.
Obie’s embedded insurance coverage software helps change the way in which insurance coverage for landlords and actual property traders is purchased and offered.
Insurtech firm Obie introduced a Sequence B spherical right now. The corporate will use the $25.5 million funding to assist change the way in which insurance coverage for landlords and actual property traders is purchased and offered.
In the present day’s spherical brings Obie’s whole fairness raised to $39 million, following the $10.7 million the corporate raised in its 2021 Sequence A spherical. Battery Ventures led the funding, which additionally noticed participation from Brick and Mortar VC, DivcoWest, and actual property funds and investor teams.
“We’re excited to have the continued help of our traders as we proceed to construct insurance coverage merchandise that drive effectivity and alter the way in which insurance coverage is purchased and offered,” mentioned Obie Co-founder and CEO Ryan Letzeiser. “This funding helps the way forward for embedded insurance coverage, as we increase our partnerships throughout industries and provide further insurance coverage merchandise to shoppers.”
Obie was based in 2017 to enhance the way in which insurance coverage was purchased and offered in the true property investing business by launching an embedded insurance coverage choice. The corporate’s embedded insurance coverage options underwrite traders by pulling greater than 1,000 knowledge factors from a number of databases. Moreover, it creates a greater consumer expertise by providing prompt, bindable quotes through its associate platforms, reminiscent of Baselane, Awning, and Marketplaces Houses.
Obie has grown 300% over the previous two years. And with 18 million actual property traders throughout the U.S., the corporate expects to proceed that trajectory. Earlier this month, Inc. Journal named Obie to its 2023 Finest Workplaces Record.
Picture by Curtis Adams
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