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Actual estate-focused insurtech Obie introduced it acquired $25.5 million in funding.
The Collection B funding brings Obie’s whole raised to $39 million because it was based in 2017.
Obie’s embedded insurance coverage device helps change the way in which insurance coverage for landlords and actual property traders is purchased and bought.
Insurtech firm Obie introduced a Collection B spherical at present. The corporate will use the $25.5 million funding to assist change the way in which insurance coverage for landlords and actual property traders is purchased and bought.
At this time’s spherical brings Obie’s whole fairness raised to $39 million, following the $10.7 million the corporate raised in its 2021 Collection A spherical. Battery Ventures led the funding, which additionally noticed participation from Brick and Mortar VC, DivcoWest, and actual property funds and investor teams.
“We’re excited to have the continuing help of our traders as we proceed to construct insurance coverage merchandise that drive effectivity and alter the way in which insurance coverage is purchased and bought,” mentioned Obie Co-founder and CEO Ryan Letzeiser. “This funding helps the way forward for embedded insurance coverage, as we broaden our partnerships throughout industries and provide further insurance coverage merchandise to purchasers.”
Obie was based in 2017 to enhance the way in which insurance coverage was purchased and bought in the true property investing business by launching an embedded insurance coverage possibility. The corporate’s embedded insurance coverage options underwrite traders by pulling greater than 1,000 knowledge factors from a number of databases. Moreover, it creates a greater consumer expertise by providing on the spot, bindable quotes through its companion platforms, comparable to Baselane, Awning, and Marketplaces Properties.
Obie has grown 300% over the previous two years. And with 18 million actual property traders throughout the U.S., the corporate expects to proceed that trajectory. Earlier this month, Inc. Journal named Obie to its 2023 Greatest Workplaces Checklist.
Photograph by Curtis Adams
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