ottonova Valuation, Funding & Investors
ottonova is valued at $114M as of June 2017.
Last ottonova valuation
$114M
Series C · Jun 2017
Last ottonova funding round
$33M
Series F · Sep 2022
Cumulative funding ottonova raised
$174M
across 5 funding rounds
Key investors in ottonova
HV Capital
b2venture
Vorwerk Ventures
Earlybird VC
TEV Ventures
STS Ventures
About ottonova
Ottonova is a Munich-headquartered digital health insurer serving over 100,000 customers in Germany. The platform offers private health insurance plans, telemedicine consultations, and preventive care services through a mobile app. Ottonova covers dental, vision, and psychotherapy alongside standard medical reimbursements. It partners with over 50,000 doctors and clinics nationwide. Launched in 2017, ottonova expanded to family plans and occupational health in 2022, emphasizing personalized tariffs based on lifestyle data.
Founded
2015
HQ
MunichWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Valuation
$114M (Jun 2017)
ottonova Valuation
ottonova is currently valued at $114M, based on its Series C in June 2017.
The $11M round was led by Debeka, with participation from b2venture, TEV Ventures, STS Ventures, HV Capital and Vorwerk Ventures.
ottonova valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2017 | Series C | $114M |
ottonova Funding History
ottonova has raised a total of $174M across 5 funding rounds.
ottonova's first fundraising round was a $16M Series B in March 2017. The most recent completed round was a $33M Series F in September 2022.
ottonova funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2022 | Series F | Cadence Growth Capital (lead); HV Capital; Earlybird VC | $33M | - | ottonova is a Munich-based digital private health insurance company founded in 2017, offering innovative digital services, instant personal advice via chat, and features to help customers get healthy and stay healthy in the mobile age. The company raised approximately €34 million (or $33.77M) in a Series F growth capital round around September 5-9, 2022, led by Cadence Growth Capital, with participation from existing investors including Earlybird Venture Capital, HV Capital, Vorwerk Ventures, and a German-based family office. This marked the latest of seven funding rounds, bringing total capital raised to about $174.48M or €175M across 10 investors. GP Bullhound advised ottonova on the transaction, highlighting its success in a changed financing environment. The funds are intended to accelerate ottonova's growth trajectory, launch additional insurance products, enhance business process efficiency, and support entry into the next phase as the final financing step before break-even, according to company statements. Cadence Growth Capital, a growth PE fund focused on the German-speaking region with over €200M in assets under management, emphasized partnerships with high-caliber companies showing strong organic and inorganic growth prospects. Legal advice was provided by CMS to Cadence on contract negotiations and due diligence. ottonova's prior Series E was in August 2021, and this Series F represented a shift toward profitable growth and efficiency amid moderating growth expectations, as noted by CEO Roman Rittweger. |
| Aug 2021 | Series E | Earlybird VC (lead) | $47M | - | Ottonova is a Munich-based insurtech founded in 2017, holding a health insurance license from BaFin since that year, offering private health insurance and supplementary insurance through a user-friendly mobile app and digital platform focused on simple processes, transparency, and services to enhance customer satisfaction in insurance and health matters. In May 2021, the company raised approximately €40 million in a financing round led by Earlybird Venture Capital, with half provided as a convertible loan and the other half as direct equity; existing investors also participated. Investors included btov Partners, Debeka, HV Capital, SevenVentures, STS Ventures, and Tengelmann Ventures. The funds were intended for building partnerships, such as white-label supplementary dental insurance with Getsafe, marketing efforts including discounts on platforms like MyDealz, and general expansion. Ottonova positions itself in the growing European insurtech sector, reinventing customer interactions with health insurance via technology, amid a 2021 landscape of rising InsurTech funding where mega-rounds dominated quarterly totals. |
| Nov 2019 | Series D | Debeka (lead); b2venture; HV Capital; Vorwerk Ventures | $66M | - | Ottonova is a Munich-based digital health insurer founded in 2017, offering an app-based healthcare product that simplifies insurance management for customers, including tariffs with hospital room guarantees, dental discounts, physician access, and a concierge service for medical support. In late November 2019, the company raised around 60 million euros in additional funding from existing investors including Debeka, HV Capital (formerly HV Holtzbrinck Ventures), Vorwerk Ventures, and b2venture (btov Partners), with the capital earmarked for expanding sales and marketing in 2020, including a ProSiebenSat.1 advertising campaign partnership with SevenVentures to grow the customer base via TV and social media. This followed product launches like optimized insurance rates and a dental supplement plan in summer 2019, plus partnerships with distributors such as Check24 and Blau Direkt. Later funding history shows cumulative raises reaching 174.48 million USD over multiple rounds by 2022, indicating sustained growth in the German insurtech space targeting young high-income earners with digital private health insurance modeled partly on U.S. peer Oscar. |
| Jun 2017 | Series C | Debeka (lead); b2venture; TEV Ventures; STS Ventures; HV Capital; Vorwerk Ventures | $11M | $114M | - |
| Mar 2017 | Series B | TEV Ventures (lead); b2venture; STS Ventures; HV Capital; Vorwerk Ventures | $16M | - | Ottonova is a Germany-based insurtech company founded in 2015 that develops a digital private health insurance product launched in June 2017, targeting young high-income earners with an app-based service offering full-fledged and complementary tariffs, concierge medical support, and easy bill access. The company raised €15m ($16.2m) in a March 2017 funding round from Tengelmann Ventures (TEV Ventures), B-to-V (b2venture), STS Ventures, and Vorwerk Ventures, bringing total funding to €20m including a prior undisclosed amount from Holtzbrinck Ventures (HV Capital) in June 2016. This round supported product development while the company remained largely in stealth mode. Subsequent rounds included a €10m investment from Debeka in June 2017 for slightly more than 10% stake, pushing total capital to around $38m, and later €60m in 2019 from existing investors for sales and marketing expansion. |
Who has invested in ottonova?
8 investors have backed ottonova across its funding rounds, including HV Capital, b2venture, Vorwerk Ventures, Earlybird VC, TEV Ventures and STS Ventures.
Lead investors include Cadence Growth Capital, Earlybird VC, Debeka and TEV Ventures.
ottonova Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Munich | 4 | Participant | Mar 2017 | |
| Berlin | 3 | Participant | Mar 2017 | |
| Berlin | 3 | Participant | Mar 2017 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Debeka | Koblenz | 2 | Lead | Jun 2017 |
| Essen | 2 | Lead | Mar 2017 | |
| Cologne | 2 | Participant | Mar 2017 | |
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Start Free Trialottonova Competitors
ottonova competitors include listed companies like Nord Insuretech Group and Root Inc., and private ones like BestDoctor, InsurMedix, Independence Pet Group and Hedvig.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Moscow | Private | $17M | - | $90M | 5.3x | |
 California City, CA | Private | - | - | $65M | - | |
| Chicago, IL | Private | $65M | - | $208M | 3.2x | |
 Stockholm | Private | $1M | - | $62M | - | |
| Sweden | Publicly listed | $436K | ($2M) | $21M | - | |
| United States | Publicly listed | $1.5B | $74M | $787M | 0.4x |
ottonova Public Comps
ottonova is still privately-owned, but its public comps include MNC Financial Services, Atlantic Insurance, Janashakthi Insurance Co, RheinLand Holding, Softlogic Life Insurance, CIG Pannonia Life, Firstcaution, Zurich Chile, Nobleoak Life and SelectQuote.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $210M | $91M | 0.6x | - | 1.3x | - | |||
| $40M | $24M | 2.7x | - | 4.3x | - | |||
| $41M | $13M | 2.5x | 1.9x | 7.8x | - | |||
| $837M | $14M | 0.2x | - | 9.7x | - | |||
| $137M | $23M | 0.6x | - | 3.5x | - | |||
| $79M | $15M | 1.1x | - | 5.7x | - | |||
| $36M | $4M | 3.0x | - | 25.0x | - | |||
| $167M | $4M | 0.4x | - | 20.3x | - | |||
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Common questions about ottonova
| When was ottonova founded? | ottonova was founded in 2015. |
| Where is ottonova headquartered? | ottonova is headquartered in Munich, Germany. |
| Is ottonova publicly listed? | No, ottonova is a private, VC-backed company. |
| What is ottonova's valuation? | ottonova was last valued at $114M in its Series C in June 2017. |
| How much funding has ottonova raised? | ottonova has raised $174M across 5 funding rounds. |
| What was ottonova's last funding round? | ottonova's last funding round was a $33M Series F in September 2022, led by Cadence Growth Capital. |
| Who are ottonova's investors? | ottonova's investors include HV Capital, b2venture, Vorwerk Ventures, Debeka, TEV Ventures, STS Ventures, Earlybird VC and Cadence Growth Capital. |
| Which companies are comparable to ottonova? | Companies comparable to ottonova include BestDoctor, InsurMedix, Independence Pet Group, Hedvig, Nord Insuretech Group and Root Inc.. |
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