Israel's Next Insurance digital insurtech company, has completed a $250 million new funding round, led by FinTLV Ventures and Battery Ventures, with participation from CapitalG, Group 11, Zeev Ventures, Founders Circle and G Squared, the company announced Wednesday.
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The latest funding round brings the valuation of Next Insurance to $4 billion and total funding raised to more than $880 million.
"This latest round of financing is a validation of our vision which is to make it dramatically easier for small business owners to get the insurance coverage they need by removing friction from the customer experience," said Guy Goldstein, co-founder and CEO of Next Insurance.
"It starts with developing a comprehensive digital product portfolio under one roof, continues with leveraging technology that improves the customer experience, and ends with a network of integrated partnerships that bring policy purchasing to the customer within the systems they already use. We're not done improving the lives of small business owners, but we're proud of what we've accomplished thus far."
"Next Insurance's full-stack approach to providing coverage for small businesses has created a radical paradigm shift in the legacy insurance industry," said Gil Arazi, founder and managing partner at FinTLV. Ventures.
Arazi and Battery Ventures general partner Michael Brown will join as board observers.
