# Beijing Water Drop Mutual Insurance Technology Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/beijing-water-drop-mutual-insurance-technology-co

- Industry: Insurance
- Headquarters: Beijing, China
- Website: www.shuidihuzhu.com
- Total disclosed funding: $674M
- Latest round: Series E (Nov 24, 2020)
- Investors on record: 16

## About

Founded in 2013 and based in Beijing, China, Beijing Water Drop Mutual Insurance Technology Co., Ltd., trading under the name Waterdrop, operates as an online insurance technology platform. The company was founded by Shen Peng. In November 2020, Waterdrop raised USD 150 million in Series E funding led by Tencent Investment. In May 2021, the company raised USD 360 million in an IPO, selling 30 million shares at USD 12 per share on the Nasdaq.

Waterdrop operates a health insurance and healthcare crowdfunding platform. Waterdrop’s main business Water Mutual operates like a collective: investors chip in small amounts of money to help others diagnosed with critical illnesses. The company's services allow users to create crowdfunding campaigns, buy insurance, or claim indemnities according to their policies.

The company generates revenue on a commission basis from its customers.

Waterdrop plans to list on the NYSE under the symbol WDH.

## Funding rounds

- Series E, Nov 24, 2020, $150M — Tencent Investment
- Series D, Aug 11, 2020, $230M — IDG Capital, Swiss Re, Tencent Investment, Wisdom Financial Management, LLC
- Series C, Jun 12, 2019, $144M — China International Capital Corporation, Tencent Investment, Boyu Capital, Gaorong Ventures
- Series B, Mar 27, 2019, $74M — BlueRun Ventures, IDG Capital, Sinovation Ventures, Tencent Investment, Gaorong Ventures
- Series B, Nov 7, 2018 — BlueRun Ventures, Sinovation Ventures, Tencent Investment, DST Global, Gaorong Ventures
- Series A, Aug 30, 2017, $24M — BlueRun Ventures, IDG Capital, Sinovation Ventures, Tencent Investment, Gaorong Ventures, Meituan, Inc., Tongcheng Foundation
- Series A, Jul 8, 2016, $0.8M — ZhenFund
- Series A, May 9, 2016, $50M — IDG Capital, Tencent Investment, ZhenFund, Gaorong Ventures, Meituan, Inc., Monad Ventures, Light-Up Capital
- Seed, Apr 15, 2016 — Zhenshun Fund
- Seed, May 11, 2015, $0M — ZhenFund

## Investors

- ZhenFund (https://capitalatlas.ai/funds/zhenfund) — Seed, Series A
- Zhenshun Fund (https://capitalatlas.ai/funds/zhenshun-fund) — Seed
- IDG Capital (https://capitalatlas.ai/funds/idg-capital) — Series A, Series B, Series D
- Tencent Investment — Series A, Series B, Series C, Series D, Series E
- Gaorong Ventures (https://capitalatlas.ai/funds/gaorong-ventures) — Series A, Series B, Series C
- Meituan, Inc. — Series A
- Monad Ventures (https://capitalatlas.ai/funds/monad-ventures) — Series A
- Light-Up Capital — Series A
- BlueRun Ventures (https://capitalatlas.ai/funds/bluerun-ventures) — Series A, Series B
- Sinovation Ventures (https://capitalatlas.ai/funds/sinovation-ventures) — Series A, Series B
- Tongcheng Foundation — Series A
- DST Global (https://capitalatlas.ai/funds/dst-global) — Series B
- China International Capital Corporation (https://capitalatlas.ai/funds/china-international-capital-corporation) — Series C
- Boyu Capital (https://capitalatlas.ai/funds/boyu-capital) — Series C
- Swiss Re — Series D
- Wisdom Financial Management, LLC — Series D