Steadily, a landlord insurance company, announced that it has raised $28.5 million in series b funding.

Steadily serves rental property owners of single-family and small multi-family rentals across the U.S. The latest round brings Steadily’s total funding to $59.5 million following a $16 million series a in 2021.

The new investment was led by Zigg Capital with participation from Matrix Partners, Koch Ventures, Clocktower Technology Ventures, and Nine Four Ventures.

“As property investors ourselves, we understand the unique challenges and needs of rental property owners,” said Datha Santomieri, co-founder of Steadily, in a company press release.

Steadily operates in the real estate investor space as a direct-to-consumer insurance provider. Beyond direct sales, it has also integrated its product into the broader real estate ecosystem via embedded insurance offerings for independent agents, property management systems, lender software, and more.

The company’s mobile-first experience pre-fills many data points like property size and year of construction. Users can receive an insurance estimate online and speak with a team of specialized insurance agents who can answer specific coverage questions via phone, email, or SMS.

Steadily began operations as a retail agency, working with carriers and wholesalers nationwide to offer customers rate and coverages for their rental properties. It has since increased binding authority with existing carriers and expanded operations to include program administrator capabilities.

Next, the company plans to expand its mobile-first experience with new tech such as embedded internet of things devices to prevent property damage, the company said in a press release.

Steadily was founded by a team of insurance experts and rental property investors to offer insurance to rental property owners. The company is dual headquartered in Austin, Texas, and Overland Park, Kansas, and is backed by investors including Zigg Capital, Matrix Partners, Koch Ventures, Clocktower Technology Ventures, Nine Four Ventures, Peak State Ventures, Vesta Ventures, and SV Angel.

Source: Steadily