The Series D round brings Ladder's total funding to $203.6M. Here are the top-line bullets you need to know.
Ladder, a digital life insurance provider, has raised $100M in a Series D that drew participation from Thomvest Ventures and OMERS Private Equity.
How’s the company performing?
- Palo Alto-based Ladder leverages a digital infrastructure and real-time underwriting to provide term life insurance policies.
- The company currently provides life insurance coverage of up to $8M across all 50 US states. It is on track to issue $30B in coverage by the end of 2021.
- In 2020, Ladder witnessed 400% revenue growth.
- The company has partnered with Fidelity Security Life Insurance Company, Allianz Life Insurance Company of New York, and Allianz Life Insurance Company of North America.
Why does the market matter?
- The global insurtech market is projected to grow at a CAGR of 48.8% and reach a value of $60.98B by 2028, according to Grand View Research.
- In the first half of 2021, insurtechs raised $7.4B — surpassing the $7.1B raised over all of 2020 by more than $300M.
- Rising demand for the digitization of insurance services and simplification of claims processes is driving market growth.