Posted in News & Updates, on 04/06/2017
Trov Secures $45M in Series D Financing to Accelerate Global Insurtech Innovation
NOTE: Full announcement press release can be viewed HERE
For the past few years, our team at Trov has been highly focused on bringing our simple, transparent, on-demand insurance platform to an even larger global customer base, and to provide people around the world a better, more convenient way to protect the things they care about. Now, after launching our product in Australia and the United Kingdom in 2016, we have taken a huge step closer to our global insurtech revolution by closing over $45 million in a Series D funding round led by Munich Re / HSB Ventures and Sompo Holdings. Also joining this round of funding were all of Trov’s Series C investors: Oak HC/FT, Suncorp Group, Anthemis, and Guidewire.
This Series D round puts us at over $85 million raised since launch, and marks a major milestone on our path toward global expansion of Trov mobile on-demand insurance. This new capital also positions us as one of the best-funded insurtech startups in the world, will allow us to expand the categories of items we cover, and will help accelerate the development of new applications that leverage Trov’s unique technology platform.
Trov’s early success in Australia and UK is demonstrating that modern consumers want a new way to protect their things. With the additional capital and extensive partnerships, soon millions of people around the world will be empowered to protect the things that enhance their lives whenever and however they want.
In addition to their investment, Munich Re is expanding their strategic alliance to include underwriting for Trov throughout Europe, Asia and South Africa. Additionally, Sompo is investing in the financing round and partnering with Trov to offer its on-demand insurance exclusively throughout Japan.
By expanding our partnership with Munich Re and adding Sompo, we’re building a stable of exceptional partners who will enable us to launch around the world with greater speed, efficiency, and local know-how. The combined capabilities of key global insurance leaders will streamline our regulatory path and increase our go-to-market effectiveness in each new territory we pursue.
With today’s news, Trov is now well on its way to becoming the only global on-demand insurance provider for tech-enabled consumers. As we continue to gain approval and momentum in more global regions, our goal of providing the world with transparent, flexible on-demand insurance becomes even closer. We’re excited for the next stage in our global journey, and we can’t wait to share it with you.
To find out when Trov is available in your area, get notified at trov.com.
For questions or comments on this article, please contact Alex Dickel at firstname.lastname@example.org.