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NEXT INSURANCE
Next Insurance
Insurance/InsurTech · Palo Alto, California · United States · Founded · 2015 · ≈ · 400 · employees

Next Insurance Funding — Last Valued at $600M

Acquired

Next Insurance has raised $3.4B across 2 funding rounds, plus 3 undated rounds. The company is valued at $600M (post-money).

ProfileValuationFundingCompetitorsStock & IPOHow to invest
Next Insurance funding · at a glance
Total raised, all rounds
$3.4B
some round sizes not disclosed
Funding rounds
2
plus 3 undated rounds
Latest round
Jan 2025
Jan 2025
Lead on that event
not disclosed
2025
About Next Insurance

NEXT Insurance reached a $600 million post-money valuation in September 2020. The company has since become ERGO NEXT Insurance, uniting its digital-first insurance model with Munich Re's global financial strength.

Funding timeline

The Next Insurance funding timeline

2 funding rounds, the latest highlighted.

2015
Next Insurance founded

Next Insurance was founded in 2015, United States.

UNDATED
Series F, Series C, Series E

No date is disclosed for this round.

SEP 2020
Series C at $600M post-money

A primary round — the company sells new shares to investors it selects. Led by Sapphire Ventures.

Valuation basispost-moneyAmountPrice / shareLeadSapphire Ventures
STATUS: ACQUIRED

No longer independent.

Funding rounds

Next Insurance funding rounds in full

2 dated rounds, newest first.

Round
Date
Amount
Valuation
Price / share
Lead investors
Participation
Acquisition LATEST
Jan 2025
$2.6B
—
—
—
—
Series C
Sep 2020
—
$600Mpost-money
—
Sapphire Ventures
—
Series F
—
$265M
—
—
Allstate, Allianz X
TLV Partners, Group11, FinTLV, Battery Ventures, CapitalG, Munich Re, Oren Zeev
Series C
—
$250M
—
—
Munich Re
—
Series E
—
$250M
$4Bpost-money
—
FinTLV Ventures, Battery Ventures
CapitalG, Group 11, Zeev Ventures, Founders Circle, G Squared
Next Insurance · investors

Investors

FFinTLV VenturesLEADBattery VenturesLEADMMunich ReLEADAAllstateLEADAllianz XLEADSapphire VenturesLEADFFelicis VenturesAAmity Ventures

Frequently asked questions

Who are Next Insurance's competitors?›

The closest insurance/insurtech peers are on the competitors page.

How can I get exposure to Next Insurance?›

The routes section explains what is realistically available for a company at this stage.

Is Next Insurance publicly traded?›

No. Next Insurance was acquired by Munich Re; its shares do not trade independently.

What is Next Insurance's valuation?›

The last valuation is $600M.

Who has invested in Next Insurance?›

Lead investors for each round are in the funding timeline.

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