What does PolicyMe do?
PolicyMe is a Toronto-based digital insurance provider that offers a comprehensive solution suite including life insurance, critical illness insurance, and health & dental insurance, along with B2B2C digital solutions.
How much did they raise?
The company raised CAD$30M in a Series B round, with lead investors Blue Cross Life Insurance Company of Canada and Securian Canada. This round comes on the heels of earlier financings, including a CAD$3.3M Seed round in 2020 and a CAD$18M Series A in 2022, bringing total funding to CAD$51M.
What are their plans for the money?
With the new funds, PolicyMe aims to accelerate the expansion of its product offerings, particularly its digital and health & dental insurance options, potentially enhancing its market presence and customer access in the insurance sector.
What have they achieved so far?
PolicyMe has made significant strides with its digital insurance platform and successful previous funding rounds, establishing a solid foundation for future innovation and growth.