NEXT Insurance Set to Raise $100M+ in Late VC Funding Round

The digital agency caters to small businesses looking to quickly compare business insurance quotes.

Cassie Sheets
Written byCassie Sheets
Cassie Sheets
Cassie SheetsData Journalist
  • 9 years writing data-driven content

  • Lifestyle contributor to 30+ local news sites

Cassie Sheets has a background in home and garden and real estate content. At Insurify, she translates industry jargon into insights that empower insurance buyers.

Featured in

media logomedia logo
John Leach
Edited byJohn Leach
Photo of an Insurify author
John LeachSenior Insurance Copy Editor
  • Licensed property and casualty insurance agent

  • 8+ years editing experience

John leads Insurify’s copy desk, helping ensure the accuracy and readability of Insurify’s content. He’s a licensed agent specializing in home and car insurance topics.

Featured in

media logo

Published October 23, 2023 at 12:00 PM PDT | Reading time: 1 minutes

Why you can trust Insurify: Comparing accurate insurance quotes should never put you at risk of spam. We earn an agent commission only if you buy a policy based on our quotes. Our editorial team follows a rigorous set of editorial standards and operates independently from our insurance partners. Learn more.

NEXT Insurance is raising at least $100 million — and as much as $250 million — in its latest round of funding, the industry news publication The Insurer recently reported. The Palo Alto-based insurtech company last raised $250 million in a March 2021 Series E round. NEXT Insurance has raised $881 million in funding to date.

NEXT’s comparison platform aims to help small businesses — which often struggle to find affordable coverage — compare highly tailored insurance policies suited to their needs. Artificial intelligence helps process commercial policies, including auto, workers’ comp, and liability insurance, in minutes.

The company’s $4 billion valuation is unchanged from its Series E round, during which NEXT Insurance secured the backing of Battery Ventures, Founders Circle Capital, Zeev Ventures, FinTLV, G Squared, and Group 11. Past investors include Munich Re Ventures, Nationwide Insurance, American Express Ventures, and others.

Co-founded in 2016 by Guy Goldstein, Nissim Tapiro, and Alon Huri, NEXT Insurance has grown a book of 420,000 small-business customers, up from 300,000 at the end of 2021. In September 2023, the company announced NEXT’s Coverage Builder, a differentiated offering that will enable agents to fully customize quotes for small-business clients.

The Coverage Builder allows agents to select base policy limits, add or remove coverage, and update limits post-purchase, providing instant underwriting and price updates throughout the process. Small businesses can also access the feature post-purchase so owners can tailor and manage policies.

In August 2023, NEXT Insurance launched commercial umbrella insurance in 41 states and expanded liquor liability coverage to seven additional states. The growing insurtech was also featured on Forbes’ 2023 Fintech 50.


Cassie Sheets
Cassie SheetsData Journalist

Cassie Sheets has more than nine years of experience creating compelling content for clients, brands, and local news sites. She started her career at Movoto Real Estate, where she transformed dry data into interesting insights for potential homebuyers. She’s since covered a wide range of topics, from pop culture news to home and garden trends.

Before joining Insurify, Cassie wrote engaging landing pages and blog posts for medical practices at MyAdvice. Now, she uses her knack for diving into the latest data and pulling out key details to empower insurance buyers.

Cassie holds a BFA in Creative Writing from Columbia College Chicago. In her free time, you can find her exploring the city with her dog, trying not to fall over in yoga classes, and petting cats at the shelter.

John Leach
Edited byJohn LeachSenior Insurance Copy Editor
Photo of an Insurify author
John LeachSenior Insurance Copy Editor
  • Licensed property and casualty insurance agent

  • 8+ years editing experience

John leads Insurify’s copy desk, helping ensure the accuracy and readability of Insurify’s content. He’s a licensed agent specializing in home and car insurance topics.

Featured in

media logo