The InsurTech landscape is composed of 38 companies that have reached unicorn status. Among them, wealth management platform FNZ holds a $20 billion valuation, while workforce platform Rippling is valued at $17 billion.
The sector also includes specialized firms such as Coalition, a cyber insurance provider valued at $5 billion.
Below is the full list of 38 InsurTech unicorn startups at this time.
Top 10 Most Valuable InsurTech Unicorns
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Get the Sheet for $50FNZ develops a wealth management platform that financial institutions use to deliver investment services and manage client assets. The platform integrates complex back-office operations with modern, client-facing digital tools on a single, unified system.
| Valuation | $20B |
| Headquarters | London, England, United Kingdom |
| Year Founded | 2004 |
| Founders | Adrian Durham |
| Funding Amount | $5.8B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Corporate Round |
| Top Investors | Generation Investment Management, Temasek Holdings, General Atlantic, La Caisse, Raymond James |
Rippling builds a single platform to manage all of a company's workforce operations, from HR and IT to finance. This unified system allows businesses to handle everything from payroll and benefits to employee devices and apps in one place.
| Valuation | $17B (Joined August 2020) |
| Headquarters | San Francisco, California, United States |
| Year Founded | 2016 |
| Founders | Parker Conrad, Prasanna Sankar |
| Funding Amount | $2.4B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series G |
| Top Investors | Y Combinator, Coatue, Sequoia Capital, Founders Fund, Abstract |
N26 built a mobile-first bank to give users a simple and transparent way to manage their money. Their platform offers a full banking experience through a smartphone app, complete with a free bank account and debit card.
| Valuation | $9.23B (Joined January 2019) |
| Headquarters | Berlin, Berlin, Germany |
| Year Founded | 2013 |
| Founders | Maximilian Tayenthal, Valentin Stalf |
| Funding Amount | $1.7B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series E |
| Top Investors | Coatue, Plug and Play, Battery Ventures, redalpine, Insight Partners |
Automation Anywhere builds an AI-powered platform designed to automate business processes from end to end. Their technology combines robotic process automation with AI, creating a digital workforce that frees up employees for more strategic work.
| Valuation | $7B (Joined July 2018) |
| Headquarters | San Jose, California, United States |
| Year Founded | 2003 |
| Founders | Ankur Kothari, Mihir Shukla, Neeti Mehta, Rushabh Parmani |
| Funding Amount | $1.1B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Venture Round |
| Top Investors | Workday Ventures, Salesforce Ventures, Goldman Sachs, General Atlantic, New Enterprise Associates |
Plaid builds the underlying technology that connects consumer bank accounts to financial apps and services. Their API-driven network gives developers the tools to build new financial services, powering many of the most popular fintech apps available today.
| Valuation | $6.1B (Joined December 2018) |
| Headquarters | San Francisco, California, United States |
| Year Founded | 2013 |
| Founders | William Hockey, Zachary Perret |
| Funding Amount | $1.3B |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Venture Round |
| Top Investors | Index Ventures, BlackRock, Norwest, Andreessen Horowitz, Franklin Templeton |
Coalition combines cyber insurance with security services to help businesses manage and mitigate digital risk. Their platform offers proactive monitoring and security tools designed to prevent incidents before they happen.
| Valuation | $5B (Joined March 2021) |
| Headquarters | San Francisco, California, United States |
| Year Founded | 2017 |
| Founders | John Hering, Joshua Motta |
| Funding Amount | $800M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Corporate Round |
| Top Investors | Ribbit Capital, Valor Equity Partners, General Atlantic, Index Ventures, Felicis |
Wefox provides a digital platform that connects insurance companies, brokers, and customers through a single ecosystem. Their technology is designed to streamline the entire insurance process, from sales to claims, for all parties involved.
| Valuation | $5B (Joined March 2019) |
| Headquarters | Berlin, Berlin, Germany |
| Year Founded | 2015 |
| Founders | Amir Suissa, Daniel S. H. Kershaw, Dario Fazlic, Fabian Wesemann, Jonathan Seoane, Julian Teicke, Teodoro Martino |
| Funding Amount | $1.7B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Venture Round |
| Top Investors | Lightrock, Goldman Sachs, Speedinvest, Salesforce Ventures, Deutsche Bank |
Mercury builds a banking platform tailored for startups and internet businesses. Their platform gives founders access to a complete financial toolkit, from checking accounts and credit cards to treasury and venture debt products.
| Valuation | $4B (Joined July 2021) |
| Headquarters | San Francisco, California, United States |
| Year Founded | 2017 |
| Founders | Immad Akhund, Jason Zhang, Max Tagher |
| Funding Amount | $452.2M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series C |
| Top Investors | Sequoia Capital, Andreessen Horowitz, Spark Capital, Sapphire Ventures, 500 Global |
Branch sells home and auto insurance that can be bundled together for significant savings. Their platform provides instant, bindable prices to make getting covered faster and more affordable.
| Valuation | $4B (Joined September 2018) |
| Headquarters | Columbus, Ohio, United States |
| Year Founded | 2017 |
| Founders | Joe Emison, Steve Lekas |
| Funding Amount | $229.5M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series C |
| Top Investors | Foundation Capital, Gaingels, Anthemis, Stone Point Capital, Greycroft |
Quantexa builds a decision intelligence platform that helps organizations connect disparate data points to uncover hidden risks and identify new opportunities. They are primarily known for helping large organizations in sectors like finance and government tackle complex challenges such as financial crime and fraud.
| Valuation | $3B (Joined April 2023) |
| Headquarters | London, England, United Kingdom |
| Year Founded | 2016 |
| Founders | Imam Hoque, Vishal Marria |
| Funding Amount | $545M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series F |
| Top Investors | Warburg Pincus, Dawn Capital, BNY, Accenture, HSBC |
The Remaining 28 InsurTech Unicorns
The ten most valuable companies are just a small part of the larger InsurTech world. While the United States is home to many of them, founders from Europe to Asia are also building major businesses. Together, these companies have raised over $10 billion to change how we think about insurance. Here’s a look at the rest of the unicorn startups shaping the industry.