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honeycombinsurance.com

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Founded Year

2019

Stage

Seed VC | Alive

Total Raised

$3.3M

Last Raised

$3.3M | 3 mos ago

About Honeycomb

Honeycomb is a reinsurance-backed MGA providing simple, fair, and affordable multi-family property insurance through its end-to-end digital platform. Honeycomb leverages user-generated proprietary data, advanced AI, and computer vision to automate a manual, inaccurate, and costly underwriting process. Honeycomb improves the customer experience and provides tailored coverage at a competitive price point and at improved profit margins through its real-time rate/quote/bind offering and its data-driven “right-pricing” advantage.

Honeycomb Headquarter Location

1390 Market St. Suite 200

San Francisco, California, 94102,

United States

(877) 415-8901

Latest Honeycomb News

Honeycomb Investment Trust says pipeline remains robust for Q3 and Q4

Sep 7, 2021

Honeycomb Investment Trust says pipeline remains robust for Q3 and Q4 Among its investments, the trust participated in a senior asset-backed facility to the largest pure-play electric vehicle subscription business in Europe Honeycomb Investment Trust PLC reported an 8.4% net asset value return for July and said its investment pipeline for the third and fourth quarters “continues to look strong”. The investment trust’s NAV per share ended the month at 1,024.3p, or 1,017.8p excluding income, which represented a 0.72% NAV return in the month. Net investment assets grew to £620mln from £594.4mln in June, which manager Pollen Street Capital said in its monthly update was driven by the extension of a new revolving credit facility to an existing SME lending partner, drawdowns against existing property-backed facilities and participation in a senior asset-backed facility to a large electric vehicle subscription business. The new facility is with one of Europe’s largest small business lenders and builds on the company’s relationship with the firm since 2016. “The funding line will enable the firm to grow its UK SME loan offering, highlighting the company’s commitment to investment that drives positive impact,” said Pollen Street. The investment trust also made a £30mln commitment to a new Pollen Street managed credit investment vehicle that is focused on asset-backed lending to non-bank lenders, which will allow Honeycomb to efficiently participate in new PSC investments when the trust is close to fully deployed. The company also participated in a senior asset-backed facility to the largest pure-play electric vehicle subscription business in Europe, with the facility directly secured on the fleet of electric vehicles and will fund growth in the number of cars to meet customer demand and drive increased access and adoption of electric vehicles across Europe. “The underlying risk adjusted yield remained strong at 9.4% annualised for the month with credit metrics remaining positive. The pipeline continues to be robust with a number of well progressed transactions that are expected to complete in Q3,” Pollen Street concluded. Honeycomb was also announced as a finalist in the ‘debt’ category of Investment Week's Investment Company of the Year Awards 2021, in association with the AIC. Quick facts: Honeycomb Investment Trust plc Follow

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Expert Collections containing Honeycomb

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Honeycomb is included in 5 Expert Collections, including Real Estate Tech.

R

Real Estate Tech

2,187 items

Startups in the space cover the residential and commercial real estate space with a focus on consumers. Categories include buying, selling and investing in real estate (iBuyers, marketplaces, investment/crowdfunding platforms), and also tenant experience, property management, sm

I

InsurTech

1,630 items

Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience

A

Artificial Intelligence

7,362 items

This collection includes startups selling AI SaaS, using AI algorithms to develop their core products, and those developing hardware to support AI workloads.

F

Fintech

6,976 items

US-based companies

C

Commercial Insurtech

142 items

Companies in this collection help commercial insurers improve processes across the value chain including quote-to-bind, operations, claims, and more. Companies span Multi-line Commercial, Specialty Liability, Workers' Compensation.

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