Sure Valuation, Funding & Investors

Sure is valued at $550M as of October 2021.

See full Sure profile

Last Sure valuation

$550M

Series C · Oct 2021

Last Sure funding round

$100M

Series C · Oct 2021

Cumulative funding Sure raised

$123M

across 4 funding rounds

Key investors in Sure

  • Menlo Ventures
  • ff Venture Capital
  • AAF Management Ltd.
  • Fosun RZ Capital
  • W. R. Berkley
  • Plug and Play

Sure Overview

About Sure

Sure is a San Francisco-headquartered insurtech platform enabling embedded insurance distribution for brands and carriers worldwide. Its SaaS offerings include APIs for quoting, binding, policy issuance, claims handling, and servicing across auto, property, and liability lines. Partnerships with carriers like Allstate and Travelers power white-label programs for e-commerce sites and apps, processing transactions without custom development.


Founded

2015

HQ

United StatesNew York City, NY

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$550M (Oct 2021)

Sure Valuation

Sure is currently valued at $550M, based on its Series C in October 2021.

The $100M round was led by Declaration Partners and Kinnevik, with participation from Menlo Ventures, W. R. Berkley, Verdure Capital Management, Expanding Capital, Cohen Circle and 5 other investors.

Sure valuation by funding round

Sure valuation by funding round
DateStageValuation
Oct 2021Series C$550M

Sure Funding History

Sure has raised a total of $123M across 4 funding rounds.

Sure's first fundraising round was a $3M seed round in May 2016. The most recent completed round was a $100M Series C in October 2021.

Sure funding rounds

Sure funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2021Series CDeclaration Partners (lead); Kinnevik (lead); Menlo Ventures; W. R. Berkley; Verdure Capital Management; Expanding Capital; Cohen Circle; WndrCo; BluePointe Ventures; J.A.S Ventures; AAF Management Ltd.; FTAC Ventures$100M$550MSure is a Santa Monica-based global insurance technology company founded in 2015, providing infrastructure that enables brands to embed insurance products into customer experiences seamlessly, powering programs for clients like Farmers Insurance, Chubb, Intuit, Betterment, Carvana, automotive manufacturers, and a major credit card network. On October 5, 2021, Sure closed a $100 million Series C funding round led by Declaration Partners and Kinnevik, with participation from WndrCo, FTAC Ventures, Expanding Capital, and existing investors W.R. Berkley Corporation and Menlo Ventures, bringing total funding to $123.1 million. Proceeds from the Series C were earmarked to accelerate Sure's global expansion, expedite new product launches, and enhance embedded insurance customer experiences. At the time, Sure reported 80 employees, up over 50% year-over-year, with plans to triple engineering headcount in 2022. Investors highlighted Sure's transformational technology addressing a massive global market opportunity in embedded insurance, praising CEO Wayne Slavin's leadership and the platform's focus on consumer convenience and digital integration. Declaration Partners partner Brian Stern noted the potential for Sure to capitalize on embedding insurance into brand relationships. Kinnevik, a long-term investor in sustainable models, already had portfolio companies using Sure's platform. Financial Technology Partners served as exclusive advisor to Sure in the transaction.
Jun 2019Series BW. R. Berkley (lead)$13M-Sure is an insurance technology infrastructure company that enables embedded insurance distribution. The company provides technology infrastructure allowing insurance to be sold directly to consumers through digital experiences without paper or human intermediaries. Sure raised $12.5 million in Series B funding on June 13, 2019, led by W.R. Berkley Corporation, an insurance holding company.
Jun 2017Series AIA Capital Group (lead); Plug and Play; Menlo Ventures; Nationwide Ventures; ff Venture Capital; AmTrust Financial Servs; Fosun RZ Capital; Assurant Ventures; AAF Management Ltd.; Bossa Invest$8M-Sure is an insurtech platform founded in 2015 that partners with insurance companies to offer on-demand personal insurance through mobile applications. The company provides episodic and everyday insurance policies including flight, baggage, renters, pet, wedding, and smartphone protection across all US states via iPhone, Android, and web platforms. In June 2017, Sure closed an $8 million Series A funding round led by IA Capital Group, with participation from Menlo Ventures, FF Venture Capital, Nationwide Ventures, Assurant, and AmTrust. The capital was allocated toward product development, user acquisition, marketing initiatives, and team expansion. At the time of the funding, Sure had been operating since January 2016 and had sold over 20,000 policies across six insurance categories.
May 2016Seedff Venture Capital; Montage Ventures; Fosun RZ Capital$3M--

Who has invested in Sure?

21 investors have backed Sure across its funding rounds, including Menlo Ventures, ff Venture Capital, AAF Management Ltd., Fosun RZ Capital, W. R. Berkley and Plug and Play.

Lead investors include Declaration Partners, Kinnevik, W. R. Berkley and IA Capital Group.


Sure Investors

Investors in Sure by funding rounds participated
InvestorHQRoundsRoleFirst check
Menlo VenturesUnited StatesSan Francisco, CA2ParticipantJun 2017
W. R. BerkleyUnited StatesGreenwich, CT2LeadJun 2019
ff Venture CapitalUnited StatesNew York City, NY2ParticipantMay 2016
Fosun RZ CapitalChinaBeijing2ParticipantMay 2016
AAF Management Ltd.United StatesUnited States2ParticipantJun 2017
Declaration PartnersUnited StatesNew York City, NY1LeadOct 2021
Plug and PlayUnited StatesSan Francisco, CA1ParticipantJun 2017
Verdure Capital ManagementUnited StatesNew York City, NY1ParticipantOct 2021
Expanding CapitalUnited StatesSan Francisco, CA1ParticipantOct 2021
Cohen CircleUnited StatesNew York City, NY1ParticipantOct 2021
WndrCoUnited StatesLos Angeles, CA1ParticipantOct 2021
Nationwide VenturesUnited StatesColumbus, OH1ParticipantJun 2017
BluePointe VenturesUnited StatesSan Francisco, CA1ParticipantOct 2021

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Sure Competitors

Sure competitors include listed companies like CorVel, FINEOS, Client Service International and Brilliance Technology, and private ones like Pontera and Hawk.

Public and private companies comparable to Sure
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CorVelUnited StatesUnited StatesPublicly listed$959M$175M$3.6B-
PonteraUnited StatesNew York City, NYPrivate--$550M-
FINEOSIrelandIrelandPublicly listed$159M$35M$550M3.0x
Client Service InternationalChinaChinaPublicly listed$88M($46M)$544M-
HawkGermanyMunichPrivate--$560M-
Brilliance TechnologyChinaChinaPublicly listed$160M$2M$536M2.5x
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
FINEOS$159M$35M3.2x3.0x14.5x12.4x
Client Service International$88M($46M)7.5x-(14.3x)-
AMTD Digital$59M$18M19.5x-62.9x-
Brilliance Technology$160M$2M3.5x2.5x364.9x61.5x
Yuanbao$652M$209M----
JinXianDai Information$46M($10M)10.1x-(47.7x)-
MHA$338M$59M1.5x1.5x8.6x7.7x
Linkage Software$157M$24M2.7x4.2x17.7x14.2x

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Common questions about Sure

When was Sure founded?Sure was founded in 2015.
Where is Sure headquartered?Sure is headquartered in New York City, NY, United States.
Is Sure publicly listed?No, Sure is a private, VC-backed company.
What is Sure's valuation?Sure was last valued at $550M in its Series C in October 2021.
How much funding has Sure raised?Sure has raised $123M across 4 funding rounds.
What was Sure's last funding round?Sure's last funding round was a $100M Series C in October 2021, led by Declaration Partners and Kinnevik.
Who are Sure's investors?Sure's investors include Menlo Ventures, W. R. Berkley, ff Venture Capital, Fosun RZ Capital, AAF Management Ltd., Declaration Partners, Plug and Play, Verdure Capital Management, Expanding Capital, Cohen Circle and 11 others.
Which companies are comparable to Sure?Companies comparable to Sure include CorVel, Pontera, FINEOS, Client Service International, Hawk and Brilliance Technology.

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