There’s lots of stats out there about VC and fintech right now. It’s UP! It’s DOWN! It’s STAGNANT! We are used to conflicting media reports, as media has been our business for over 3 decades. What we DO know is that within the fintech sector, insurtech is a hot commodity at present. The latest big insurtech VC deal comes from Ladder, which just received a $14M Series A round from 4 investors, with Canaan Partners as the lead.
According to the Ladderlife.com website:
“Ladder is a fresh model for a digital consumer. We built Ladder with new technology (and without expensive middlemen or sales offices). That means we can provide you with the best, personalized value (price + experience + service).
The insurance industry is heavily regulated to protect you, and the state of CA has approved LadderLife™ insurance. Finally, the digital experience you expect, with the underpinning of an A- rated (‘Excellent’) life insurance company, based on an analysis of financial position and operating performance by A.M. Best Company, an independent analyst of the insurance industry.”
Ladder is launching by offering term life insurance in California to start, but when you fill out their short form to start the quote process and your zip is outside CA, you get this message: “Ladder is currently available in California. Enter your email to hear when Ladder comes to your area.” So, it would appear they have plans to expand.
Total Equity Funding$14M in 1 Round from 4 Investors
Most Recent Funding$14M Series A on October 19, 2016