Insurtech Joyn Insurance Announces $17.7 Million in Series A Funding Led by OMERS Ventures – InsuranceNewsNet

“This funding will allow us to further build and expand so we can continue providing a best-in-class insurance experience in the market,” Macia continued. “Many brokers are already seeing that we can deliver on what we were built to do, and with our broad E&S appetite for small to mid-sized property and general liability risks, we look forward to adding more trading partner relationships in the near future.”

Representatives from OMERS Ventures, ManchesterStory and Avanta Ventures will also be joining the Board of Directors of Joyn Insurance.

“We are thrilled to have such world class partners on board as we continue showing our growing number of brokers and customers what a technology-powered, joyful insurance experience in the E&S market can look like,” said Macia.

“We invested in Joyn because we saw the results that they are already delivering and the tremendous potential for their future growth in the super-hot E&S space,” said David Wechsler at OMERS Ventures. “As we were doing our diligence while evaluating this opportunity, I was particularly struck by the broker feedback I received from those who had worked with Joyn.”

“Despite a high bar for admitted products, the E&S quote and bind experience at many companies is still largely done by pen and paper, and the brokers we talked to have been stunned at how Joyn addresses these longstanding inefficiencies,” Wechsler continued. “We couldn’t be more proud to back this world-class team as they disrupt the fastest growing sector of commercial insurance.”

The new funding, which brings the company’s total raised to more than $30 million, will be used to further enhance its technology platform and data capabilities, and to demonstrate the value of its innovative, technology-driven insurance offerings. It will go towards significantly expanding the size of Joyn’s team by the end of this year.

TigerRisk Capital Markets & Advisory acted as financial advisor to SiriusPoint in this transaction.

For more information, or to learn more, visit https://www.joyninsurance.com/.

About Joyn

Joyn Insurance Services Inc. is a Delaware-domiciled, licensed producer and general agent that operates under its “Joyn”TM and “Joyn InsuranceTM brands. Joyn is an insurtech enterprise that will be underwriting commercial insurance in the small and middle markets. Joyn is powered by technology, data and expertise to deliver a transparent and trusted experience to brokers and customers.

Cision View original content:https://www.prnewswire.com/news-releases/insurtech-joyn-insurance-announces-17-7-million-in-series-a-funding-led-by-omers-ventures-301720715.html

SOURCE Joyn Insurance

Source link

Share This
COMMENTS

Leave a Reply

Your email address will not be published.