15 Top Insurtech VCs Active Right Now

When you're preparing to raise capital for your InsurTech startup, knowing which investors are active in the space is critical. Focusing on the right venture capital firms from the beginning saves time and helps you find a partner who understands the unique challenges of insurance technology.

To support your fundraising, our team at Rho curated this list of top VC firms in InsurTech. We hope it helps you quickly identify investors who are a good fit for your company's stage and vision.

Just raised, or about to? Set up your financial stack with Rho in minutes. We provide business banking, corporate cards, and bill pay—built for startup teams moving fast.

Which VC Firms in InsurTech Are Right for Your Stage?

Whether your company is in its early days or preparing for an exit, it helps to know which investors to talk to. Here is a quick overview of VC firms that invest in InsurTech companies at each stage.

Pre-seed and Seed VC Firms in InsurTech

Pre-seed and seed funding is for founders who are just getting started, typically to build a minimum viable product and find initial market fit. For InsurTech startups at this stage, firms like XYZ Ventures, Elefund, and Nine Four Ventures are active investors.

Early Stage VC Firms in InsurTech

Early-stage rounds, such as Series A and B, help you scale your team and operations once you have a proven product and a growing customer base. Among the early-stage venture capital firms active in InsurTech are Brewer Lane Ventures, PJC, and Core Innovation Capital.

Late Stage VC Firms in InsurTech

Late-stage funding supports established companies as they prepare for major growth, a potential acquisition, or an initial public offering (IPO). If your company is approaching this phase, you might connect with late-stage venture capital firms like Bessemer Venture Partners, IA Capital Group, and Pivot Investment Partners.

It's also worth noting that many venture capital firms invest across multiple stages, from seed to exit.

To help you find the right partner, we've gathered more information on the leading VC firms in the InsurTech space. The list below covers their typical investment stages, geographic focus, and what distinguishes each firm for founders.

1. Bessemer Venture Partners

Bessemer Venture Partners is one of the oldest venture capital firms, investing in companies from their early days through to their growth stages. They support founders across the enterprise, consumer, and healthcare sectors.

With a history stretching back to 1911, the firm has backed foundational companies like LinkedIn, Shopify, and Pinterest. This track record points to a deep understanding of what it takes to build lasting businesses.

This firm is a strong choice if you are building a company with high-growth potential in their core sectors and value a partner with extensive experience. Their ability to invest across stages makes them a good fit for founders seeking a long-term relationship.

• Investment stages: Early to late stage venture
• Industries of focus: Enterprise, consumer, healthcare, FinTech, and InsurTech
• Geographical presence: San Francisco, California
• Founded: 1911
• Notable portfolio companies: Twilio, Shopify, Pinterest, and LinkedIn
• Number of investments: Over 1,470

You can refer to their website here.

2. XYZ Venture Capital

XYZ Venture Capital is an early-stage firm that supports founders building companies in the fintech and insurtech industries. They concentrate on providing foundational support to help startups grow from their initial stages.

The firm has a strong record of backing ambitious companies that have achieved significant scale, including Anduril, Verkada, and Mosaic. This focus on high-growth businesses signals their interest in technically complex and regulated sectors.

If you are a founder in fintech or insurtech with a vision for a category-defining company, XYZ could be a valuable partner. Their portfolio suggests an appetite for ambitious, product-focused teams.

• Investment stages: Seed, early stage, and late stage venture
• Industries of focus: FinTech, InsurTech, and financial services
• Geographical presence: San Francisco, California
• Founded: 2017
• Notable portfolio companies: Anduril, Verkada, Mosaic, and Gecko Robotics
• Number of investments: 111

You can refer to their website here.

3. Munich Re Ventures

Munich Re Ventures is the venture capital arm of Munich Re, a major global reinsurer. They invest in companies from seed to later stages, focusing on startups at the intersection of technology and risk.

As a corporate venture firm, their primary distinction is the strategic value they offer through their parent company's global reach and deep industry expertise. Their portfolio includes major InsurTech successes like Hippo and At-Bay, signaling a strong track record in the space.

This firm is a great match if your startup could benefit from a strategic partnership with an insurance industry leader. Founders who value deep domain knowledge and potential distribution channels alongside capital will find them to be a compelling partner.

• Investment stages: Seed, early stage, and late stage venture
• Industries of focus: InsurTech, FinTech, and financial services
• Geographical presence: San Francisco, California
• Founded: 2014
• Notable portfolio companies: Next Insurance, Hippo, ACKO, and At-Bay
• Number of investments: 89

You can refer to their website here.

4. Elefund

Elefund is a thesis-driven, micro-venture capital firm that concentrates on early-stage technology companies. They provide foundational capital to startups in their initial phases of development.

The firm has a history of backing companies that grew into major brands, including Robinhood, Calm, and Carta. This portfolio suggests a focus on product-led businesses with the potential for significant consumer adoption and market disruption.

If you are a founder building an ambitious company in consumer tech, fintech, or insurtech, Elefund could be a good match. Their experience with high-growth startups makes them a compelling partner for teams aiming to build a category-defining business.

• Investment stages: Seed and early stage venture
• Industries of focus: FinTech, InsurTech, Financial Services, and Mobile Apps
• Geographical presence: Mountain View, California
• Founded: 2015
• Notable portfolio companies: Robinhood, Calm, Carta, and Branch Insurance
• Number of investments: 57

You can refer to their website here.

5. IA Capital Group

IA Capital Group is an investment firm that provides venture and growth capital to companies in the insurtech and fintech sectors. They have a long history of supporting businesses across various stages of development, from seed to late-stage rounds.

With a track record dating back to 1992, the firm has a distinct focus on the financial and insurance industries. Their portfolio includes several high-profile unicorns that have gone public, such as SoFi and Marqeta, signaling their experience in guiding companies toward major exits.

This firm is an excellent choice for founders in insurtech or fintech who are seeking a partner with deep domain expertise. Their ability to invest across stages makes them a good fit for ambitious teams looking for a long-term relationship with an investor who understands the path to scale.

• Investment stages: Seed, early stage, and late stage venture
• Industries of focus: InsurTech, FinTech, and financial services
• Geographical presence: New York, New York
• Founded: 1992
• Notable portfolio companies: SoFi, Marqeta, Clearcover, and Kin Insurance
• Number of investments: 83

You can refer to their website here.

6. Core Innovation Capital

Core Innovation Capital is a venture firm that invests in companies committed to empowering small businesses. They support startups across the fintech and insurtech sectors, providing capital from the seed stage through to later growth rounds.

The firm has a strong track record of successful exits, including the NerdWallet IPO and the acquisitions of companies like Coverhound and Bestow. This history demonstrates their ability to guide companies toward significant outcomes and market leadership.

If you are a founder building a fintech or insurtech company that serves small businesses, this firm could be a strong partner. Their experience is particularly valuable for teams aiming for a major exit, such as an acquisition or IPO.

• Investment stages: Seed, early stage, and late stage venture
• Industries of focus: Financial Services, FinTech, and InsurTech
• Geographical presence: San Francisco, California
• Founded: 2010
• Notable portfolio companies: NerdWallet, Ripple, Coverhound, and Bestow
• Number of investments: 96

You can refer to their website here.

7. Propel

Propel is a venture capital firm that invests in companies building for the "new financial economy." They support startups from seed to later stages, with a strong focus on the fintech and insurtech sectors.

The firm emphasizes its track record of backing companies that achieve significant scale, including major successes like Coinbase, DocuSign, and Hippo. This focus on businesses with high-growth potential signals their interest in companies with a clear path to a major exit.

If you are a founder in fintech or insurtech building a company with the potential for massive scale, Propel could be a strong partner. Their portfolio suggests they are a good fit for teams aiming to create category-defining businesses.

• Investment stages: Seed, early stage, and late stage venture
• Industries of focus: FinTech, InsurTech, financial services, enterprise software, and cryptocurrency
• Geographical presence: San Francisco, California
• Founded: 2016
• Notable portfolio companies: Coinbase, DocuSign, Hippo, Groww, and Neon
• Number of investments: 62

You can refer to their website here.

8. Commerce Ventures

Commerce Ventures is a venture capital firm that invests from seed to later stages. They concentrate on companies in e-commerce, retail, and the financial technologies that support them, including fintech and insurtech.

The firm has a clear focus on the infrastructure layer of commerce, backing companies that become foundational to their industries. Their portfolio highlights major exits, like the Bill.com IPO, which signals their experience in guiding companies toward significant outcomes.

This firm is a strong fit if your startup is building technology for the retail, e-commerce, or payments sectors. Founders with a clear vision for a large-scale exit will find their track record particularly relevant.

• Investment stages: Seed, early, and late stage venture
• Industries of focus: E-Commerce, Retail Technology, FinTech, and InsurTech
• Geographical presence: San Francisco, California
• Founded: 2012
• Notable portfolio companies: Bill.com, Forter, Socure, and Vestwell
• Number of investments: 194

You can refer to their website here.

9. Avanta Ventures

Avanta Ventures is a venture capital firm that provides capital, resources, and industry expertise to startups in the insurtech sector. They invest across multiple stages, from initial seed funding to later growth rounds.

A key characteristic is their hands-on approach, combining investment with accelerator-style support to help founders. Their portfolio includes the successful exit of Automatic and the high-growth company Kin Insurance, which achieved a valuation over $1 billion.

This firm is a great fit for founders building in the insurance space who value a partner with deep operational knowledge. If you are looking for more than just capital, their industry expertise could be a significant asset.

• Investment stages: Seed to late stage venture, private equity, and convertible note
• Industries of focus: InsurTech, insurance, and financial services
• Geographical presence: Palo Alto, California
• Founded: 2017
• Notable portfolio companies: Kin Insurance, RapidSOS, Cowbell Cyber, and Automatic
• Number of investments: 29

You can refer to their website here.

10. PJC

PJC is an early-stage venture capital firm that invests in companies building for the enterprise, consumer, and artificial intelligence markets. They focus on providing foundational capital and support to startups during their initial growth phases.

A key feature of the firm is its track record of backing companies that achieve major exits, such as the acquisition of Nest by Google and the Expensify IPO. This history demonstrates their ability to support founders in building businesses with significant market impact and value.

PJC is a strong partner for early-stage founders in their core sectors who are building companies with a clear path to a large-scale outcome. If your goal is an acquisition by a major technology company or an IPO, their experience is highly relevant.

• Investment stages: Seed and early stage venture
• Industries of focus: Enterprise, consumer, AI, FinTech, and InsurTech
• Geographical presence: Boston, Massachusetts
• Founded: 2001
• Notable portfolio companies: Nest, Expensify, Nexamp, and Appcast
• Number of investments: 133

You can refer to their website here.

11. Expansion Venture Capital

Expansion Venture Capital is a New York-based firm that invests in and mentors companies from their early stages through to their growth phases. They support founders across several sectors, with a notable focus on fintech, insurtech, and consumer brands.

The firm has a strong track record of backing companies that achieve major exits, including the IPOs of Lemonade and Allbirds. This history points to a focus on high-growth businesses with a clear path to the public markets or a significant acquisition.

This firm is a great choice for founders building companies with the potential for a major exit, such as an IPO or high-value acquisition. Their portfolio suggests a strong fit for ambitious teams in consumer, fintech, and insurtech.

• Investment stages: Seed to late stage venture
• Industries of focus: Automotive, Consumer, Enterprise, Financial Services, FinTech, InsurTech, Real Estate, and Robotics
• Geographical presence: New York, New York
• Founded: 2010
• Notable portfolio companies: Lemonade, Turo, Carta, ClassPass, and Allbirds
• Number of investments: 128
• Number of exits: 29

You can refer to their website here.

12. Innovating Capital

Innovating Capital is a technology fund that invests in companies across the financial, cybersecurity, insurance, and life sciences sectors. They support businesses across their entire lifecycle, from initial seed funding through to later private equity rounds.

The firm’s portfolio shows a clear focus on foundational technologies, with significant investments in Web3 infrastructure like Chainlink and Solana. Their backing of companies like Cohesity and Sana Biotechnology also signals an appetite for complex enterprise and life science challenges.

This firm is a strong match for founders building highly technical companies in their core sectors, especially those creating new platforms or protocols. Their ability to invest across stages makes them a good partner for teams with long-term, ambitious goals.

• Investment stages: Seed, early stage, late stage venture, private equity, and convertible note
• Industries of focus: FinTech, InsurTech, Cyber Security, Enterprise Software, and Life Science
• Geographical presence: New York, New York
• Founded: 2017
• Notable portfolio companies: Chainlink, Cohesity, Uniswap, Solana, and Sana Biotechnology
• Number of investments: 32
• Number of exits: 9

You can refer to their website here.

13. Pivot Investment Partners

Pivot Investment Partners is a New York-based firm that concentrates on early-growth B2B companies in the fintech and insurtech sectors. The firm is led by operators, suggesting a team with direct experience building and scaling businesses.

Their team focuses on guiding companies to major outcomes, with a portfolio that includes successful exits like the acquisition of BoldPenguin. They also back high-growth unicorns such as iCapital Network, which secured a valuation over $7.5 billion.

This firm is a strong match for founders of B2B fintech or insurtech companies who are ready to scale and value guidance from experienced operators. If you are building a business with a clear path to a large exit, their track record is particularly relevant.

• Investment stages: Early to late stage venture
• Industries of focus: FinTech, InsurTech, financial services, AI, and payments
• Geographical presence: New York, New York
• Founded: 2014
• Notable portfolio companies: iCapital Network, Gusto, BoldPenguin, and Cowbell Cyber
• Team background: Operator-led

You can refer to their website here.

14. Brewer Lane Ventures

Brewer Lane Ventures is an early-stage venture capital firm that invests in companies across the insurance, wealth management, banking, and lending sectors. They provide foundational capital to startups building new technologies in financial services.

The firm’s portfolio shows a focus on companies that gain significant traction with large enterprise partners and win industry recognition. They backed cyber-insurance provider Cowbell, which reached a billion-dollar valuation, and Ansel Health, whose product was adopted by Fortune 500 employers.

This firm is a great match for founders in insurtech and fintech who are building for enterprise customers and have a clear strategy for distribution. If your company is ready to partner with major industry players, their experience could be a valuable asset.

• Investment stages: Early stage venture
• Industries of focus: Insurance, wealth management, banking, and lending
• Geographical presence: Boston, Massachusetts
• Founded: 2019
• Notable portfolio companies: Cowbell, Empathy, Savvy Wealth, and Ansel Health
• Number of investments: 29

You can refer to their website here.

15. Nine Four Ventures

Nine Four Ventures is an early-stage venture capital firm that primarily invests in property technology (PropTech). They also support companies in related fields like insurtech and fintech.

The firm has a strong focus on companies with high-growth potential, as shown by their portfolio. They have backed unicorns like Built and AgentSync and had a successful IPO exit with SmartRent.

This firm is a good fit for early-stage founders in the PropTech, InsurTech, or FinTech industries. Their track record is especially relevant if you are building a company with a clear path to a major exit.

• Investment stages: Seed and early stage venture
• Industries of focus: PropTech, InsurTech, FinTech, and Real Estate
• Geographical presence: Chicago, Illinois
• Founded: 2018
• Notable portfolio companies: SmartRent, Built, AgentSync, and OpenSpace
• Number of investments: 41

You can refer to their website here.

What This Tells Us About The VC Scene for InsurTech Companies

Our review of these firms shows that companies in the InsurTech sector have strong and varied funding support. You'll find that many investors on this list are stage-agnostic, providing capital from seed rounds through to later growth stages. This flexibility is good news for founders, as it suggests you can find a long-term partner regardless of your company's current phase.

Geographically, while major hubs like San Francisco and New York are prominent, firms in cities like Boston and Chicago are also active. This, combined with a mix of traditional and corporate investors, gives you a healthy range of options. The overall picture is one of a well-balanced field with ample opportunities for founders.

Raise Confidently with Rho

Focusing on the right investors saves your most valuable resources: time and energy. We hope this list helps you connect with the partners who are best suited for your company.

Once your round is closed, the work of managing that capital begins. If you’ve just raised, Rho can help you set up your financial stack in minutes.

We provide the tools your startup needs to operate efficiently, all in one place. Our platform includes business banking, corporate cards, and automated bill pay to help you manage your funds.

FAQs about Venture Capital Firms Focused on InsurTech

Which VC firms in New York focus on InsurTech?

New York is a key hub for InsurTech investment. Firms on our list like IA Capital Group and Pivot Investment Partners are based there, offering capital and deep industry connections to founders at various growth stages.

What do early-stage InsurTech VC firms look for?

Early-stage investors like PJC and Brewer Lane Ventures typically look for a strong founding team, a clear problem you're solving, and early signs of product-market fit. A compelling vision for the future is also important.

Are there active InsurTech venture capital firms in Europe?

Yes, the European InsurTech market is active, with many venture firms in hubs like London and Berlin. While our list focuses on the US, many global VCs have a European presence and invest in the region.

How do AI-focused VC firms evaluate InsurTech startups?

AI-focused VCs look for companies using artificial intelligence to create a competitive advantage in areas like underwriting, claims, or distribution. They want to see how your technology solves a core industry problem more efficiently.

How can Rho help my startup after I raise capital?

Once you've secured funding, Rho provides an all-in-one finance platform to manage it. We offer business banking, corporate cards, and automated payments to help you operate efficiently. You can get started here.