The funding helps Jerry’s valuation hit the $450M mark. Here are the top-line bullets you need to know.
Jerry, an insurance comparison engine, has raised $75M in a Series C. The round drew participation from Highland Capital Partners, Park West Asset Management, Kamerra, Goodwater Capital, and Bow Ventures.
HOW’S THE COMPANY PERFORMING?
- California-based Jerry focuses on lowering the cost of personal automobile ownership. The company saves clients an average of $800 per year by identifying savings across a range of vehicle insurance plans.
- The company provides services to about 1M customers as a licensed insurance broker in all 50 US states.
WHY DOES THE MARKET MATTER?
- The global Insurtech market is projected to grow at a CAGR of 10.8% and reach a value of $10.1B by 2025, according to Mordor Intelligence.
- The insurtech sector is seeing significant growth in investment. In the first half of 2021, insurtechs raised $7.4B — surpassing the $7.1B raised for all of 2020 by more than $300M.