Pie Insurance said it raised $11 million of Series A capital in a round led by Greycroft and joined by Aspect Ventures and existing investors Sirius Group, Moxley Holdings, and Elefund.
Washington, DC – Pie Insurance today announced the completion of an $11M Series A funding round.
Founded in May 2017, Pie Insurance has disrupted the small business workers’ compensation market with frictionless, near-instant online direct distribution.
“Pie combines two elements that really stand out – a unique set of underwriting data and an experienced founder who was instrumental in building an online insurance company that was sold for over a billion dollars,” said Ian Sigalow, Partner and Co-Founder of Greycroft.
According to its predictive model, 80% of small businesses are overpaying for coverage, often by as much as 30%. “SMB owners are unfairly burdened by an outdated business model that requires too much of their time and effort in order to meet their insurance needs,” said John Swigart, Co-founder and CEO of Pie.
Pie Insurance provides workers’ compensation insurance directly to small businesses at www.
Offering A.M. Best A rated insurance, Pie leverages data analytics, easy-to-use online features, and a seasoned team of insurance experts to create an insurance model that’s as easy as pie.