By CB Insights
After a tough first half of 2020, insurtech companies saw a strong resurgence in activity in Q3’20. This quarter, insurtechs raised $2.5B across 104 deals — increasing in both funding and deal count by 63% and 41%, respectively.
The strong get stronger: Six late-stage mega-rounds drove more than 60% of total funding.
But investors still see opportunity in early-stage companies: This quarter, early-stage deal share grew to 57% — returning to pre-Covid levels.
India overtakes China for the first time since 2017: For the first time since Q4’17, startups based in India raised more funding rounds than those based in China.
L&H companies represent a disproportionate number of the quarter’s largest rounds: Historically, L&H lags P&C in deal share. However, in Q3’20, of the top 20 largest deals this quarter, a disproportionate amount of L&H startups raised large rounds.
Commercial insurtech builds funding momentum: This quarter, we saw several companies focused on offering or facilitating commercial coverage attract significant funding.
Read the full report here.
28 Oct 2020