Workers’ comp insurtech Pie Insurance has been hard at work raising a $315 million Series D. The round, which takes the company’s total raised to $615 million was led by Allianz X and Centerbridge Partners who were joined by White Mountains Insurance Group as a new partner with old hats Gallatin Point Capital, Greycroft and Acrew Capital also taking part. 

Pie CEO John Swigart said, “This round of financing is monumental in more ways than one. It’s no secret that growth-stage startups, and specifically insurtechs, are facing a challenging fundraising environment. However, Pie’s ability to grow rapidly while still focusing on delivering strong unit economics and sustainable loss ratios, is proving to be a key differentiator. Pie is disrupting the highly fragmented small business commercial insurance market through our proprietary technology which more accurately prices and underwrites insurance risks. We believe the insurtech 2.0 phase of this industry-wide transformation will be built by companies like Pie that leverage their technology to ‘do the insurance better’ and deliver superior traditional insurance metrics along with a delightful customer experience.” 

Source: PR Newswire

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