U.S.-Based InsurTechs Grabbed Most of the Q1 2021 VC Dollars: Forrester

June 22, 2021

Approximately 94 percent of InsurTech venture capital financing went to U.S.-based startups during record fundraising for the sector in the 2021 first quarter, according to Forrester’s latest sector roundup.

VC money for the sector reached the $5 billion mark, a level that quintupled from the same year-ago period. There’s a catch: One company, Michigan-based broker Acrisure, attracted the bulk of the funding.

Acrisure pulled in a stunning $3.4 billion capital raise, which bumped the total number substantially higher, Forrester noted. Without it, the $1.6 billion total is closer to the $2.5 billion in first quarter financing calculated by Willis Towers Watson in its own 2021 first quarter assessment. Both calculations include P/C and health insurers.

Other statistics from the Forrester report:

Source: Forrester