— Farmers Insurance, Chubb, Intuit, Betterment, Carvana, several automotive manufacturers and a leading global credit card network offer insurance programs built on Sure’s infrastructure
— Funding to fuel Sure’s international expansion, capitalizing on the $3 trillion embedded insurance market opportunity
Sure, a global insurance technology company, announced the closing of $100M in Series C funding led by Declaration Partners and Kinnevik with additional participation from WndrCo, FTAC Ventures, Expanding Capital, and existing investors W. R. Berkley Corporation and Menlo Ventures. This growth round will accelerate Sure’s global expansion, expedite new product launches, and streamline embedded insurance customer experiences.
In the last 12 months, Sure has more than doubled its revenue and the size of its team. During this time of rapid growth, the company has configured end-to-end embedded insurance infrastructure for world-renowned brands and insurance carriers. Its cohesive ecosystem of APIs enable faster speed to market and minimize the enormous cost and complexity associated with new insurance product launches. As a result, customers with infrastructure built on Sure such as Farmers Insurance, Chubb, Intuit, Betterment, and Carvana are able to focus on delivering core products and seamless digital experiences that provide real value to consumers. Sure has also made a mark on the industry by launching first-of-its-kind insurance programs for several automotive manufacturers a nd a leading global credit card network.
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“We are pleased to partner with Sure CEO Wayne Slavin, a visionary leader, and his team,” says Brian Stern, a Partner at Declaration Partners. “Sure enables companies to embed insurance into their customer journey and powers the digital offerings of insurers, in both cases creating seamless, convenient, and personalized insurance experiences. This transformational technology reveals a massive global market opportunity, and this new funding will help Sure capitalize on it.”
“Through our extensive experience of investing in consumer brands we have seen first-hand what tremendous value embedded finance can bring to both brands and their customers,” says Ola Nordbye from Kinnevik. “Sure is emerging as the leading enabler for insurance companies and global brands to build the next generation of products together, and among their customers you already find our portfolio companies. We love how Sure removes the complexities of digital insurance software, allowing their clients to focus on what they do best.”
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Wayne Slavin, Sure’s co-founder and CEO, says, “This round will fuel our expansion, enabling us to help the insurance industry reach its full potential in an online era. Insurance, much like financial services, desperately needs modernized technology to meet the ‘right here, right now’ mentality of the modern customer. As carriers continue to prioritize digital transformation and brands expand financial services to include insurance, Sure is the proven platform to power insurance programs for the world’s largest companies.”
Slavin continues, “We’re thrilled to work with the teams at Declaration Partners and Kinnevik as we expand internationally and grow our team and services.”
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