# Next Insurance

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

- Industry: Insurance
- Headquarters: Palo Alto, US
- Website: www.nextinsurance.com
- Total disclosed funding: $1B
- Latest round: Series G (Oct 2, 2023)
- Investors on record: 20

## About

Founded in 2016 and based in Palo Alto, CA, Next Insurance, Inc. is an insurtech company focused on providing tailored insurance solutions for small businesses across various industries, aiming to simplify the insurance process and enhance accessibility for its clients. The company was co-founded by Alon Huri and Nissim Tapiro, with Guy Goldstein who serves as the current CEO. Next Insurance, Inc. has raised a total of USD 1.28 billion across 10 deals. It is currently valued at USD 2.6 billion. Next Insurance offers a range of comprehensive insurance products tailored for small businesses, including General Liability Insurance, Workers’ Compensation Insurance, Business Owner's Policies (BOP), and Professional Liability Insurance. Additionally, they provide specialized coverage options like Errors and Omissions (E&O) Insurance and Tools & Equipment Insurance, serving over 600,000 clients across more than 1,300 professions in the U.S. Next Insurance generates revenue primarily through insurance premiums collected from small business clients for their insurance products. The company operates on a subscription-based model, allowing clients to pay annual premiums tailored to their specific coverage needs, thereby facilitating a streamlined transaction process via their online platform. In March 2025, Munich Re Ventures acquired a 71% majority stake in Next Insurance, Inc. This acquisition enables integration with its subsidiary, Ergo, to enhance its footprint in the U.S. small business insurance market. Future growth strategies include the launch of new products aimed at addressing emerging needs in the market and plans to expand service offerings into additional geographic regions, although specific markets and dates have not been disclosed.

## Funding rounds

- Series G, Oct 2, 2023, $225M — Allstate Corporation, Allianz X
- Series F, Mar 26, 2021, $180M — Battery Ventures, G Squared, Founders Circle Capital, CapitalG, Group 11, Zeev Ventures, FinTLV Ventures
- Series E, Sep 22, 2020, $247M — Battery Ventures, Migdal Insurance Company, Bank Hapoalim, Psagot, CapitalG, Group 11, Munich Re Ventures, FinTLV Ventures, MS&AD Ventures
- Series D, Mar 12, 2020, $250M — Munich Re Ventures
- Series C, Jun 22, 2018, $62M — Redpoint Ventures, Nationwide Building Society, American Express Ventures, Ribbit Capital, Group 11, TLV Partners, Zeev Ventures, Munich Re Ventures
- Series B, Jun 12, 2017, $9.9M — Ribbit Capital, TLV Partners, Zeev Ventures, Munich Re Ventures
- Series B, Mar 24, 2017, $25M — Markel Group, Nationwide Building Society, American Express Ventures, Ribbit Capital, Group 11, TLV Partners, Zeev Ventures, Munich Re Ventures
- Series A, Feb 23, 2016, $13M — Ribbit Capital, TLV Partners, Zeev Ventures

## Investors

- Ribbit Capital (https://capitalatlas.ai/funds/ribbit-capital) — Series A, Series B, Series C
- TLV Partners (https://capitalatlas.ai/funds/tlv-partners) — Series A, Series B, Series C
- Zeev Ventures (https://capitalatlas.ai/funds/zeev-ventures) — Series A, Series B, Series C, Series F
- Markel Group — Series B
- Nationwide Building Society — Series B, Series C
- American Express Ventures (https://capitalatlas.ai/funds/american-express-ventures) — Series B, Series C
- Group 11 (https://capitalatlas.ai/funds/group-11) — Series B, Series C, Series E, Series F
- Munich Re Ventures (https://capitalatlas.ai/funds/munich-re-ventures) — Series B, Series C, Series D, Series E
- Redpoint Ventures (https://capitalatlas.ai/funds/redpoint-ventures) — Series C
- Battery Ventures (https://capitalatlas.ai/funds/battery-ventures) — Series E, Series F
- Migdal Insurance Company — Series E
- Bank Hapoalim — Series E
- Psagot — Series E
- CapitalG (https://capitalatlas.ai/funds/capitalg) — Series E, Series F
- FinTLV Ventures (https://capitalatlas.ai/funds/fintlv-ventures) — Series E, Series F
- MS&AD Ventures (https://capitalatlas.ai/funds/ms-ad-ventures) — Series E
- G Squared (https://capitalatlas.ai/funds/g-squared) — Series F
- Founders Circle Capital (https://capitalatlas.ai/funds/founders-circle-capital) — Series F
- Allstate Corporation — Series G
- Allianz X (https://capitalatlas.ai/funds/allianz-x) — Series G