Pie Insurance coverage Raises $118 Million Sequence C – Insurance coverage

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Washington, DC – April 9, 2021 –
Cooley suggested Pie Insurance coverage, an insurtech specializing in
staff’ compensation insurance coverage for small companies, on its
$118 million Sequence C financing spherical, which brings the
firm’s whole fairness funding raised to greater than $300
million. Associate Derek Colla led the Cooley staff advising Pie.

Allianz X and Acrew Capital co-led the spherical, which additionally
included participation from present buyers Greycroft, SVB
Capital, SiriusPoint, Elefund and Moxley Holdings. Pie will use the
new capital to speculate additional in expertise and automation, as nicely
as to develop its core staff’ compensation insurance coverage enterprise
and lay the groundwork for brand spanking new enterprise choices in 2021 and
past.

“Business insurance coverage is lengthy overdue for the web
transformation that private strains have benefited from for
years,” John Swigart, co-founder and CEO of Pie Insurance coverage,
mentioned in a information launch. “Now greater than ever, small companies
should be supported, not hindered, by their insurance coverage firm.
Pie is main the cost in constructing a extra reasonably priced and fashionable
insurance coverage expertise, and right now’s funding allows us to broaden
our operations and spend money on expertise and instruments that may have an
fast impression on our prospects and
companions.”  

Pie is modernizing small enterprise insurance coverage by automating the
complete expertise to offer easy, trusted and reasonably priced
protection. Since 2017, the corporate has grown its gross written
premium to greater than $100 million and partnered with 1,000+
companies throughout the US.

About Cooley LLP

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Cooley has 1,200 attorneys throughout 16 places of work in america,
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