How Much Did Next Insurance Raise? Headquarters, Funding & Key Investors

Next Insurance raised $1.12 billion across nine funding rounds, including major late-stage tranches such as $250M Series D (Mar 12, 2020), $180M Series D (Mar 26, 2021) and a $265M Series E (Oct 02, 2023) with strategic participation from Allstate and Allianz X. Founded in 2016, Next Insurance built an online-first platform offering tailored small-business policies, rapid quoting and claims management. Funding supported product breadth (liability, workers’ comp, professional lines), claims automation, distribution partnerships, and eventual acquisition activity reported subsequently strengthening its position in SME insurance distribution.

How Much Did Next Insurance Raise? Funding & Key Investors

Next Insurance is an insurtech platform focused on simplified, on-demand insurance for small businesses. The product suite includes general liability, workers’ compensation, professional liability, commercial property and industry-specific policies sold via an easy online experience with rapid quoting and policy issuance. The company leverages data, automation and API integrations to reduce friction for brokers, marketplaces and direct customers. Next’s risk models, digital distribution channels, and partner integrations help lower acquisition costs and speed up certificate issuance for small-business customers.

What Is Next Insurance and What Does It Do?

Next Insurance, founded in 2016 by Guy Goldstein, Alon Huri and Nissim Tapiro, is a Palo Alto–based (United States) internet-first insurance platform that provides small-business insurance lines and instant certificates of insurance through a streamlined digital experience. The company employs 501-1,000 people (as of Jul 01, 2024) and serves trades, professional services, retail and other SMB verticals. Next combines underwriting models, product automation and embedded distribution to make insurance accessible and fast for small enterprises.

How Much Funding Has Next Insurance Raised?

1. Series E

Amount Raised: $265M
Date: October 02, 2023
Lead Investors: Allstate, Allianz X (strategic participation)
Motivation: Product expansion, market growth, and strategic partnerships.

2. Series D (Mar 2021)

Amount Raised: $180M
Date: March 26, 2021
Lead Investors: Battery Ventures, FinTLV, CapitalG, Zeev Ventures
Motivation: Scale product and distribution, international readiness.

3. Series D (Mar 2020)

Amount Raised: $250M
Date: March 12, 2020
Lead Investors: CapitalG, FinTLV, Battery Ventures, Munich Re Ventures
Motivation: Expand underwriting capacity and accelerate growth.

Total Funding Raised: $1.12 Billion

Current Valuation: $1.1 Billion (as of Nov 2023)

Latest Funding Date: October 2023

Key Investors

1. Battery Ventures

Details: Growth investor in software and fintech.
Investment Focus Areas: SaaS, fintech, marketplaces.
Notable Investments: Nutanix, Coupa, Wayfair.

Where Is Next Insurance’s Headquarters?

Next Insurance is headquartered in Palo Alto, United States, at the heart of the Bay Area insurtech ecosystem.

What’s Next for Next Insurance?

Next will continue embedding insurance into partner platforms, automating claims and underwriting for speed and cost efficiency, and expanding product coverage for underserved small-business verticals. Note: acquisition activity was reported in your data (ERGO acquisition, Mar 20, 2025); strategic integration and partnership execution will be key next steps.

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