Up until five years ago, late-stage growth funding into InsurTech was limited. This changed once InsurTechs started gaining serious momentum, and their founders looked to exit, resulting in late-stage growth rounds growing significantly. In this Q4 report we examine InsurTechs that have recently been through this final phase of funding and discuss the routes to exit that can be taken.
Key findings for Q4
- Global InsurTech funding ticked up 0.5% quarter on quarter, from USD1.098B in Q3’23 to USD1.103 billion in Q4’23.
- Global InsurTech funding decreased 43.7% year on year, from USD8.0 billion in 2022 to USD4.51 billion in 2023.
- 39.9% of all Q4’23 InsurTech funding went to mega-round deals — a six-quarter high.
- Global deal share among US-based InsurTechs rose 5.50% between 2022 and 2023 — the largest gain among all countries.
- Q4’23 saw 41 venture technology investments from (re)insurers.