15 Top Insurtech VCs Active Right Now

For founders in the insurance technology space, raising capital means finding investors who truly get the industry. The right venture capital firm brings more than just money; they offer strategic guidance and a network tailored to the unique challenges of InsurTech, or insurance tech.

Knowing which VCs are active and knowledgeable in your sector is a critical first step. To help you prepare, our team at Rho has curated this overview of key venture capital firms investing in InsurTech. This guide is designed to give you a clear picture of the investors focused on financial technology so you can approach your fundraising with confidence.

Actively raising? You can now access non-dilutive funding options like venture debt and credit lines through Rho Capital. Rho provides access to business banking, corporate cards, and bill pay — built for startup teams moving fast.

Key Takeaways

• Securing venture funding in the InsurTech space means gaining a strategic partner with deep industry knowledge, not just capital.

• Firms like Bessemer Venture Partners, XYZ Venture Capital, Munich Re Ventures, and Elefund are among the top VCs actively investing in insurance technology startups.

• When you're raising or have just closed a round, Rho helps you manage your capital with fast business banking, corporate cards, and bill pay.

Which VC Firms in InsurTech Are Right for Your Stage?

Whether your company is in its early stages or approaching an exit, knowing which investors to approach is crucial. We've put together a brief guide to InsurTech venture firms, organized by their typical investment stage.

Pre-seed and Seed VC Firms in InsurTech

Pre-seed and seed funding is the earliest capital you'll raise, used to validate your idea and build an initial product. For InsurTech founders, some key financial technology venture capital firms to know at this stage are Elefund, Nine Four Ventures, and XYZ Ventures.

Early Stage VC Firms in InsurTech

Early-stage funding, which includes Series A and B, is for startups with a proven product and initial market traction looking to scale operations. Among the many early-stage venture capital firms in the US, investors with a focus on InsurTech include Bessemer Venture Partners, Boston-based Brewer Lane Ventures, and PJC, an AI-focused venture capital firm.

Late Stage VC Firms in InsurTech

Late-stage capital is for established companies preparing for major growth, an acquisition, or an initial public offering (IPO). Prominent late-stage VC firms with a history of backing InsurTech and FinTech leaders include New York's IA Capital Group, Pivot Investment Partners, and the well-known Silicon Valley venture capital firm Bessemer Venture Partners.

As you explore equity financing, remember that non-dilutive options can also be part of your strategy. Rho Capital connects startups to venture debt and credit lines through a fast, guided matching process, helping you access capital tailored to your business model.

It's also worth noting that many venture capital firms, including several mentioned here, invest across multiple stages from seed to growth.

To help you find the right partner, we've compiled a closer look at some of the top VC firms investing in the insurance technology sector. Below, you'll find key details on their investment stages, geographic focus, and what makes each firm a strong potential partner for founders.

1. Bessemer Venture Partners

Bessemer Venture Partners is one of the oldest and most established venture capital firms, investing from early to late stages. They focus on enterprise, consumer, and healthcare startups, with a strong presence in financial technology.

The firm is known for backing iconic companies like Shopify, Pinterest, and LinkedIn, demonstrating a track record of identifying and supporting market leaders. Their multi-stage approach means they can partner with a company from its initial growth phase through to a major exit.

BVP could be a great fit if you're building a category-defining company and want a long-term partner for your entire growth journey. Once you secure funding from a firm like Bessemer, Rho’s integrated platform can help you manage and deploy that capital with business banking, corporate cards, and automated bill pay.

• Investment stages: Early to late stage venture
• Industries of focus: Enterprise, Consumer, Healthcare, FinTech, InsurTech
• Founded: 1911
• Notable portfolio companies: Shopify, Pinterest, LinkedIn, Twitch, Twilio
• Portfolio size: Over 1,470 investments and more than 300 exits
• Location: Based in San Francisco

You can refer to their website here.

2. XYZ Venture Capital

XYZ Venture Capital is an early-stage firm that backs founders in the financial and insurance technology sectors. Based in San Francisco, they partner with companies from the seed stage onward to build foundational businesses.

The firm has a clear focus on fintech and insurtech, but its portfolio also includes deep-tech leaders like Anduril and Gecko Robotics. This signals an appetite for complex, ambitious ideas that can redefine large industries, not just incremental improvements.

XYZ could be a strong partner if you're an early-stage founder with a technically ambitious vision in fintech or a related field. After securing an early-stage round from a firm like XYZ, our platform at Rho can help you manage your new capital with integrated banking, cards, and automated payments.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: FinTech, InsurTech, Financial Services
• Founded: 2017
• Notable portfolio companies: Anduril, Verkada, Mosaic, Gecko Robotics, Wagestream
• Portfolio size: 111 investments
• Location: San Francisco

You can refer to their website here.

3. Munich Re Ventures

As the corporate venture capital arm of Munich Re, a leading global reinsurance company, Munich Re Ventures (MRV) invests in early-stage companies that operate at the intersection of risk and technology.

The firm’s direct connection to a major insurance player gives it a distinct advantage, offering founders deep industry expertise. Their portfolio includes major InsurTech successes like Hippo and At-Bay, highlighting their focus on backing companies with the potential to lead the market.

MRV is an excellent match for founders building technology to solve complex risk problems, particularly within the insurance sector. Once you secure funding from a strategic partner like MRV, our team at Rho can help you manage that capital with integrated banking and spending controls.

• Investment stages: Seed to late stage venture
• Industries of focus: InsurTech, FinTech, Financial Services
• Founded: 2014
• Notable portfolio companies: Next Insurance, Hippo, ACKO, At-Bay
• Portfolio size: 89 investments
• Location: San Francisco

You can refer to their website here.

4. Elefund

Elefund is a thesis-driven micro venture capital firm that invests in early-stage technology companies. Based in Mountain View, they provide foundational capital to help founders build their businesses from the ground up.

The firm is distinguished by its impressive portfolio, which includes major successes like Robinhood, Calm, and Carta. This track record of backing consumer and fintech unicorns from the earliest stages signals a strong ability to identify breakout companies.

Elefund could be a great partner if you are an early-stage founder with an ambitious, category-defining idea, especially in consumer fintech or insurance tech. Once you secure that seed round, our team at Rho can help you manage your new capital with integrated banking, corporate cards, and automated payments.

• Investment stages: Seed, Convertible Note, Early Stage Venture
• Industries of focus: FinTech, InsurTech, Financial Services, Mobile Apps, Wellness
• Founded: 2015
• Notable portfolio companies: Robinhood, Calm, Carta, Branch Insurance
• Portfolio size: 57 investments
• Location: Mountain View, California

You can refer to their website here.

5. IA Capital Group

IA Capital Group is a New York-based investment firm providing venture and growth capital to insurtech and fintech companies. As one of the most experienced private investment firms in the space, they have been active since 1992.

Their portfolio highlights a history of backing major successes, including the IPOs of SoFi and Marqeta and the growth of unicorns like Clearcover. This demonstrates a clear focus on companies with the potential to achieve significant scale and market leadership.

IA Capital is a great fit for founders with proven traction who are building ambitious companies in the insurance and financial technology sectors. Once you secure funding, Rho helps you deploy that capital effectively with business banking, corporate cards, and automated bill pay in one platform.

• Investment stages: Seed to late stage venture
• Industries of focus: FinTech, InsurTech, Financial Services
• Founded: 1992
• Notable portfolio companies: SoFi, Marqeta, Clearcover, Kin Insurance
• Portfolio size: 83 investments
• Location: New York

You can refer to their website here.

6. Core Innovation Capital

Core Innovation Capital is a San Francisco-based venture firm that invests in companies focused on empowering small businesses. Their work centers on the financial services, fintech, and insurtech sectors.

The firm has a strong record of backing companies that achieve major exits, including the NerdWallet IPO and the acquisition of Coverhound. Their portfolio also includes high-profile names like Ripple, showing an interest in foundational financial technologies.

Core Innovation Capital is a good match for founders building financial or insurance technology for small businesses and aiming for a significant exit. Once you secure a round, our team at Rho can help you manage your new capital with integrated banking, corporate cards, and automated payments.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: Financial Services, FinTech, InsurTech
• Founded: 2010
• Notable portfolio companies: NerdWallet, Ripple, Coverhound, Bestow, Brigit
• Portfolio size: 96 investments
• Track record: 20 successful exits, including IPOs and acquisitions
• Location: San Francisco

You can refer to their website here.

7. Propel

Propel is a San Francisco-based venture capital firm that invests in companies building the new financial economy. They support founders across the financial technology spectrum, from seed to late-stage rounds, with a portfolio that includes major names like Coinbase, DocuSign, and Hippo.

The firm's track record of backing companies that achieve major exits and significant revenue shows a focus on ambitious, market-defining ideas. Propel is a strong potential partner for founders in FinTech or InsurTech, and once you secure funding, Rho can help you manage it with integrated banking and spending controls.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: FinTech, InsurTech, Financial Services, Web3, Generative AI
• Founded: 2016
• Notable portfolio companies: Coinbase, DocuSign, Hippo, Groww, Neon
• Portfolio size: 62 investments
• Location: San Francisco

You can refer to their website here.

8. Commerce Ventures

Commerce Ventures is a venture capital firm that invests in companies at the intersection of commerce and financial technology. They support founders from seed to late stage, with a focus on retail, fintech, and insurance innovation.

The firm's portfolio shows a clear ability to back winners, with major successes like Bill.com's IPO and the multi-billion dollar valuations of Forter and Socure. This track record points to a focus on companies with the potential for large-scale exits and market leadership.

Commerce Ventures is a strong potential partner if you're building technology for the retail or financial sectors and have ambitions for a major exit. Once you secure funding, our platform at Rho can help you manage and deploy that capital with business banking, corporate cards, and automated bill pay.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: E-Commerce, Retail Technology, FinTech, InsurTech
• Founded: 2012
• Notable portfolio companies: Bill.com, Forter, Socure, Vestwell, InAuth
• Portfolio size: 194 investments
• Location: San Francisco

You can refer to their website here.

9. Avanta Ventures

Avanta Ventures is a venture capital firm that offers capital and hands-on support to founders in the InsurTech space. Based in Palo Alto, they provide industry expertise and resources to help companies grow.

The firm’s portfolio highlights a clear focus on companies with significant outcomes, including a successful exit with Automatic and backing InsurTech unicorn Kin Insurance, which is reportedly preparing for an IPO. This signals an appetite for businesses that can achieve major scale within the insurance market.

Avanta is a strong match for founders building technology to solve core problems in insurance, from underwriting to claims. Once you secure funding from a strategic partner like Avanta, Rho’s integrated platform can help you manage and deploy that capital with business banking, corporate cards, and automated bill pay.

• Investment stages: Seed to late stage venture
• Industries of focus: InsurTech, Insurance, Financial Services
• Founded: 2017
• Notable portfolio companies: Kin Insurance, RapidSOS, Cowbell Cyber, Automatic
• Portfolio size: 29 investments
• Location: Palo Alto, California

You can refer to their website here.

10. PJC

PJC is a Boston-based, early-stage venture capital firm that invests in enterprise, consumer, and artificial intelligence startups. They have a strong focus on financial and insurance technology, backing founders from the earliest stages of company building.

The firm is notable for its track record of successful exits, including Nest’s acquisition by Google and Expensify’s IPO. This history demonstrates their ability to support companies with ambitious goals, from consumer hardware to enterprise software.

PJC is a great potential partner if you're an early-stage founder with a strong focus on AI, consumer, or enterprise technology. After you close a round with a firm like PJC, our team at Rho can help you manage your new capital with integrated banking, corporate cards, and automated payments.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: Artificial Intelligence (AI), Consumer, Enterprise, FinTech, InsurTech
• Founded: 2001
• Notable portfolio companies: Nest, Expensify, Nexamp, Evergage, Appcast
• Portfolio size: 133 investments
• Track record: 30 successful exits
• Location: Boston, Massachusetts

You can refer to their website here.

11. Expansion Venture Capital

Expansion Venture Capital is a New York-based firm that provides investment and mentorship to companies from their early stages through to growth rounds. They support founders across a range of industries, with a notable focus on financial and insurance technology.

The firm's portfolio is marked by high-profile successes, including the IPO of InsurTech leader Lemonade and the growth of unicorns like Carta and Turo. This track record signals a strong ability to back companies that can achieve significant scale and successful exits.

Expansion VC is a strong potential partner for founders building ambitious consumer, fintech, or insurtech companies with clear paths to market leadership. Once you secure funding, our team at Rho can help you manage and deploy that capital with business banking, corporate cards, and automated bill pay in one platform.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: FinTech, InsurTech, Consumer, Enterprise, Real Estate
• Founded: 2010
• Notable portfolio companies: Lemonade, Turo, Carta, ClassPass, Allbirds
• Portfolio size: 128 investments
• Track record: 29 successful exits
• Location: New York

You can refer to their website here.

12. Innovating Capital

Innovating Capital is a New York-based technology fund that invests in financial services, cybersecurity, insurance, and life sciences. The firm supports companies from their earliest stages through to private equity rounds.

Their portfolio shows a strong focus on foundational technologies, with investments in Web3 leaders like Chainlink and Solana alongside enterprise unicorns like Cohesity. This signals an appetite for ambitious, technically complex companies that can become cornerstones of their industries.

Innovating Capital is a strong match for founders building infrastructure-level companies in fintech, cybersecurity, or life sciences. Once you secure funding, our team at Rho can help you manage your new capital with integrated banking, corporate cards, and automated payments.

• Investment stages: Seed to private equity
• Industries of focus: FinTech, InsurTech, Cybersecurity, Life Sciences, Enterprise Software
• Founded: 2017
• Notable portfolio companies: Chainlink, Cohesity, Uniswap, Solana, Sana Biotechnology
• Portfolio size: 32 investments
• Track record: 9 successful exits
• Location: New York

You can refer to their website here.

13. Pivot Investment Partners

Pivot Investment Partners is a New York-based firm that focuses on early-growth stage B2B companies in financial and insurance technology. As an operator-led fund, their team brings direct industry experience to their portfolio companies.

The firm's operator-led approach is a key feature, suggesting they provide hands-on support grounded in real-world experience. Their portfolio includes major fintech and insurtech names like Gusto and Cowbell Cyber, along with a successful exit in BoldPenguin, showing a focus on building valuable B2B companies.

Pivot could be a good partner if you're a founder of a B2B fintech or insurtech company with early traction and are looking for investors with deep operational knowledge. Once you secure your growth round, our team at Rho can help you manage the new capital with integrated banking, corporate cards, and automated payments.

• Investment stages: Early to late stage venture
• Industries of focus: FinTech, InsurTech, Financial Services, AI, Payments
• Founded: 2014
• Notable portfolio companies: iCapital Network, Gusto, BoldPenguin, Cowbell Cyber, Snapsheet
• Portfolio size: 62 investments
• Track record: 12 successful exits
• Location: New York

You can refer to their website here.

14. Brewer Lane Ventures

Brewer Lane Ventures is a Boston-based firm investing in early-stage companies across the insurance, wealth management, and financial services sectors. They back founders who are building technology to modernize these established industries.

The firm's portfolio features companies that have gained significant traction, like cyber-insurance unicorn Cowbell and the award-winning end-of-life platform Empathy. This highlights their ability to support businesses with clear, market-defining potential.

Brewer Lane Ventures is a strong match for early-stage founders in InsurTech or FinTech who are creating solutions for specific industry challenges. After securing a round, our team at Rho can help you manage your new capital with integrated banking and spending controls.

• Investment stages: Early Stage Venture
• Industries of focus: InsurTech, FinTech, Wealth Management, Financial Services
• Founded: 2019
• Notable portfolio companies: Cowbell, Empathy, Savvy Wealth, Ansel Health
• Portfolio size: 29 investments
• Location: Boston, Massachusetts

You can refer to their website here.

15. Nine Four Ventures

Nine Four Ventures is a Chicago-based, early-stage venture capital firm that invests in property technology (PropTech) and related industries. They provide seed and early-stage funding to founders building solutions for the real estate, construction, and insurance sectors.

The firm's portfolio highlights a clear ability to back market leaders, including the SmartRent IPO and unicorns like Built and the insurance-compliance platform AgentSync. This focus on companies with billion-dollar valuations signals an appetite for ambitious founders aiming for significant scale.

Nine Four Ventures is a great match for founders with deep industry knowledge in PropTech or InsurTech who are ready to build a category-defining company. Once you secure that early-stage round, our team at Rho can help you manage your new capital with integrated banking and spending controls.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: PropTech, InsurTech, FinTech, Construction, Real Estate
• Founded: 2018
• Notable portfolio companies: SmartRent, Built, AgentSync, OpenSpace
• Portfolio size: 41 investments
• Track record: 2 successful exits
• Location: Chicago, Illinois

You can refer to their website here.

What This Tells Us About The VC Scene for InsurTech Companies

This overview shows a healthy and varied group of investors for companies in the InsurTech sector. You'll find strong support across all funding stages, from pre-seed to late-stage growth. While investment activity is concentrated in hubs like San Francisco and New York, the presence of firms in other cities shows a growing geographic spread, giving you more options when seeking the right financial partner.

As you plan your fundraising, remember that equity isn't the only path. Rho Capital connects startups to non-dilutive options like venture debt and credit lines, offering financing tailored to your business model. Once funding is secured, our integrated platform helps you manage and deploy that capital efficiently with business banking, corporate cards, and automated bill pay.

Raise Confidently with Rho

Raising capital requires focus, and knowing which investors to approach saves you valuable time and energy. We hope this list gives you a clear starting point for finding the right financial partners for your company.

If you’re seeking funding, Rho Capital connects you to non-dilutive funding options like venture debt and credit lines through a fast, guided process. We help you access financing tailored to your business model without giving up equity.

Once your round is closed, our work continues with integrated tools to help you manage and deploy funds. With business banking, corporate cards, and automated bill pay in one place, you can focus on building your company.

FAQs about Venture Capital Firms Focused on InsurTech

What do early-stage InsurTech VC firms look for?

Early-stage investors focus on your team's industry expertise, the size of the market you're addressing, and a clear product vision. They want to see evidence that your technology solves a significant problem for customers or insurers.

Are there many InsurTech venture capital firms in the UK?

Yes, London is a major hub for FinTech and InsurTech investment. Many European venture capital firms have a presence there, actively seeking early and growth-stage companies that are building new technologies for the insurance industry.

Which venture capital firms in Singapore invest in InsurTech?

Singapore is a key center for Asia's venture capital scene. Many global and regional firms there invest in InsurTech, often focusing on companies that address the unique insurance and financial needs of the Southeast Asian market.

How do AI-focused venture capital firms view InsurTech?

AI-focused VCs are increasingly interested in InsurTech. They look for companies using artificial intelligence to improve underwriting, claims processing, and risk assessment, creating more efficient and accurate insurance products and services for the market.

How can I find the right VC firm for my InsurTech startup?

Research firms that have previously invested in your specific niche. Look for partners whose expertise aligns with your business needs, whether it's in AI, enterprise sales, or consumer products. A good fit goes beyond just capital.

How can Rho help my startup during and after fundraising?

Our Rho Capital team connects you with non-dilutive funding options. Once you've raised, our integrated platform helps you manage cash, issue corporate cards, and automate payments, so you can focus on growth. Get started with Rho.