The company was previously valued at $346M in July 2021. Here are the top-line bullets you need to know.
YuLife, a provider of gamified life insurance for employers, has raised $120M in a Series C. The round drew participation from Anthemis, Creandum, Dai-ichi Life Insurance, and Eurazeo, among others.
HOW’S THE COMPANY PERFORMING?
- UK-based YuLife offers life insurance designed to enhance employee engagement and well-being.
- The insurtech startup covers over 500K policyholders with more than $50B in coverage, up from $15B last year.
- Its customer base has grown by 4x over the past year to reach 500. Some of its customers include CapitalOne, Mintel, Sodexo, Co-Op, Del Monte, and Santander.
- The company has experienced 5x revenue growth over the past year.
Source: YuLife
WHY DOES THE MARKET MATTER?
- The global insurtech market is expected to reach a value of $152B by 2030, growing at a CAGR of 52%, according to Grand View Research.
- The growing need for digitized insurance services and simplified claims processes has been driving market growth.
