Markd Closes First $100M Venture Capital Fund for InsurTechs

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Venture capital firm InsurTech Markd on Thursday (March 24th) closed its first $100 million fund for early-stage and growth-stage startups “with the potential to propel the digital transformation of the insurance industry,” according to a company press release.

Markd’s founder and managing partner, Parker Beauchamp, and an undisclosed industry partner are among the top investors in Markd’s Fund 1, according to the statement, which also says InsurTech’s funding hit an all-time high of $10.5 billion. dollars last year.

“While this is great news for the general escalation of the market, funding for investment has not been evenly distributed, and up to 95% of InsurTechs have not seen an increase in support. to investment,” Beauchamp said in the statement. “Markd was founded to identify and support transformative insurance ideas from high-potential startups that aren’t getting the attention and funding they deserve.

“With ideas around the metaverse, blockchain, and everything in between, there are outstanding founders out there ready to continuously evolve the industry. We are committed to seeking investment partners who not only provide capital, but have industry expertise to create, reinvent and innovate conventional insurance models.

Beauchamp, who is also CEO of insurance and risk management company INGUARD, has spent more than 20 years distributing insurance digitally.

“During the FinTech innovation boom, traditional banking has partnered with apps, cryptocurrency and more, which has improved the industry for everyone involved,” he continued. “We want to be there from the first spark of a great idea.

“We are not a group of disconnected investors. We are committed to leveraging our existing relationships, expertise, insights, regulatory access, carriers, fulfillment and distribution teams we have built to help startups go further faster so founders can retain more of their capital for longer.

Last week, InsurTech company Policygenius raised $125 million in new growth capital to continue investing in the growth of its core life, disability, home and auto insurance businesses, as well as new life insurance offerings. without exam and its Policygenius Pro offer.

Related: InsurTech company Policygenius raises $125 million

The new funding brings the total capital raised by Policygenius to $225 million, including $100 million at the start of 2020.

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