# Boost Insurance USA

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/boost-insurance-usa

- Industry: Insurance
- Headquarters: New York, US
- Website: www.boostinsurance.com
- Total disclosed funding: $37M
- Latest round: Series B (May 3, 2021)
- Investors on record: 14

## About

Boost Insurance USA, Inc., based in the US, provides a digital insurance platform tailored for insurtechs and MGAs, enabling efficient management and scalability of insurance programs through innovative technology solutions.Founded in 2017 and headquartered in New York, Boost Insurance USA, Inc. specializes in offering digital insurance solutions for various clients. The company’s founders, Alex Maffeo, Andy Endale, and Jeff Plowman, previously established their credentials in the insurance and technology sectors. Boost has successfully completed five funding rounds, with the most recent being a Series B round in July 2024, where it raised USD 20.00 mn, led by RRE Ventures and supported by notable investors like Coatue Management and Greycroft Partners.Boost Insurance offers a comprehensive digital insurance platform specifically designed for insurtechs, managing general agents (MGAs), and embedded insurance innovators. This platform integrates compliance, capital, and technology into a single API-based solution, enabling clients to efficiently launch and scale insurance programs. Key products include customizable white-label options such as commercial cyber insurance, business owners' insurance, and startup management liability coverage, primarily aimed at small and medium-sized enterprises. Additionally, the company provides unique offerings like pet health insurance and the first crypto insurance product for retail wallet holders, catering to diverse clients across North America, Europe, and select regions in Asia.Boost Insurance generates revenue through partnerships and B2B transactions, utilizing a subscription-based model that grants clients access to its digital insurance platform. Clients, such as MGAs, engage with Boost to benefit from its infrastructure, allowing efficient management of insurance products tailored to their customers. Revenue is derived from fees related to these partnerships and the deployment of Boost's proprietary insurance solutions. Specific pricing details are not disclosed, but the structure supports scalable business growth by facilitating essential insurance coverage.In July 2024, Boost Insurance USA, Inc. raised USD 20.00 mn in Series B funding to support its overall growth and expand its offerings. The company plans to launch new products designed for various market segments, with a focus on enhancing its existing platform capabilities. Boost aims to expand its market presence geographically, targeting regions in North America, Europe, and select areas in Asia by the end of 2025. The recent funding will be instrumental in driving these initiatives, allowing the company to innovate and broaden its service offerings.

## Funding rounds

- Series B, May 3, 2021, $20M — RRE Ventures, Greycroft, Coatue Management, Conversion Capital, Gaingels, Hack VC, Fin Capital, Global publicly traded reinsurance company
- Series A, Feb 5, 2020, $14M — Norwest Venture Partners, IA Capital Group, Greycroft, Coatue Management, Tusk Venture Partners, Conversion Venture Capital
- Seed, Aug 24, 2018 — Tusk Venture Partners
- Seed, Sep 26, 2017, $3M — Norwest Venture Partners, IA Capital Group, Greycroft, Nephila Capital Ltd., State National Companies, Inc.

## Investors

- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Seed, Series A
- IA Capital Group (https://capitalatlas.ai/funds/ia-capital-group) — Seed, Series A
- Greycroft (https://capitalatlas.ai/funds/greycroft) — Seed, Series A, Series B
- Nephila Capital Ltd. — Seed
- State National Companies, Inc. — Seed
- Tusk Venture Partners (https://capitalatlas.ai/funds/tusk-venture-partners) — Seed, Series A
- Coatue Management (https://capitalatlas.ai/funds/coatue-management) — Series A, Series B
- Conversion Venture Capital (https://capitalatlas.ai/funds/conversion-venture-capital) — Series A
- RRE Ventures (https://capitalatlas.ai/funds/rre-ventures) — Series B
- Conversion Capital (https://capitalatlas.ai/funds/conversion-capital) — Series B
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series B
- Hack VC (https://capitalatlas.ai/funds/hack-vc) — Series B
- Fin Capital (https://capitalatlas.ai/funds/fin-capital) — Series B
- Global publicly traded reinsurance company — Series B