Pie Insurance, an insurance technology company, has closed $127 million in new financing and capital commitments.
Gallatin Point Capital joined Pie’s current investors in the capital raise, including Greycroft, SVB Capital, Aspect Ventures, Elefund, and Sirius International Insurance Group.
The new financing includes $27 million to support the continued growth and expansion of Pie Insurance’s offering to small business owners. The additional $100 million equity capital commitment will support Pie’s strategic initiative to form and purchase licensed insurance companies.
John Swigart, co-founder and chief executive officer of Pie, said: “This financing enables Pie to continue our expansion, even during these uncertain times, while forming the foundation for our future.”
