- Companies
- Sure
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
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Oct 2021 | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2021 | Series C | Declaration 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 | $550M | Sure 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 2019 | Series B | W. 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 2017 | Series A | IA 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 2016 | Seed | ff 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Jun 2017 | ||
| 2 | Lead | Jun 2019 | ||
| 2 | Participant | May 2016 | ||
| 2 | Participant | May 2016 | ||
| 2 | Participant | Jun 2017 | ||
| 1 | Lead | Oct 2021 | ||
| 1 | Participant | Jun 2017 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Jun 2017 | ||
| 1 | Participant | Oct 2021 | ||
This data is available for Pro users. Sign up to see all 21 Sure investors. Start Free Trial | ||||
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Start Free TrialSure Competitors
Sure competitors include listed companies like CorVel, FINEOS, Client Service International and Brilliance Technology, and private ones like Pontera and Hawk.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $959M | $175M | $3.6B | - | ||
| Private | - | - | $550M | - | ||
| Publicly listed | $159M | $35M | $550M | 3.0x | ||
| Publicly listed | $88M | ($46M) | $544M | - | ||
| Private | - | - | $560M | - | ||
| Publicly listed | $160M | $2M | $536M | 2.5x |
Sure Public Comps
Sure is still privately-owned, but its public comps include FINEOS, Client Service International, AMTD Digital, Brilliance Technology, Yuanbao, JinXianDai Information, MHA, Linkage Software, Abaxx Technologies and Alfa Financial Software.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $159M | $35M | 3.2x | 3.0x | 14.5x | 12.4x | |||
| $88M | ($46M) | 7.5x | - | (14.3x) | - | |||
| $59M | $18M | 19.5x | - | 62.9x | - | |||
| $160M | $2M | 3.5x | 2.5x | 364.9x | 61.5x | |||
| $652M | $209M | - | - | - | - | |||
| $46M | ($10M) | 10.1x | - | (47.7x) | - | |||
| $338M | $59M | 1.5x | 1.5x | 8.6x | 7.7x | |||
| $157M | $24M | 2.7x | 4.2x | 17.7x | 14.2x | |||
This data is available for Pro users. Sign up to see all Sure competitors and their valuation data. Start Free Trial | ||||||||
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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