Startupbootcamp secures £1 million investment from Eos to fund InsurTech cohort
19 October 2016 | 3110 views | 0
Startupbootcamp InsurTech, the leading independent accelerator focused on early stage insurance startups and corporate innovation, announces agreement with Eos Venture Partners of up to £1 million in funding for the cohort joining its 2017 program.
The news comes within the final weeks of Startupbootcamp InsurTech’s recruitment period to provide more benefits to interested startups.
According to CB insights, there are currently 141 venture capitalists and corporate venture investors active in the InsurTech space. For young startups looking to accelerate growth, identifying early stage investors who understand their unique environment is crucial for success.
Eos Venture Partners is recognized as a highly-specialized Insurtech firm providing financing and advisory services to leading innovators in the insurance industry, and as evidence of its position and mission, has served as the lead investor for InsurTech startups, Digital Fineprint, Neos, and RightIndem, in addition to investing in ActiveQuote.
Sabine VanderLinden, Managing Director of Startupbootcamp InsurTech says: “We are delighted with our agreement with Eos Venture Partners. These past months, the team has had conversations with over 2,500 startups with an interest in delivering solutions for the insurance sector. We have found that InsurTech startups are motivated to collaborate on their first projects with insurers, but also to engage with industry-centric investors. At times, it’s difficult and time consuming for startups to establish that initial traction and we are pleased that we are able to provide a platform for opening conversations.
“Young ventures often have to engage in discussions with 100s of investors to find the few that will invest in their venture. We want to reduce the time-to-fundraising for our new cohort. This agreement with Eos Venture Partners will allow startups within 2017 cohort who meet specific due diligence criteria to gain access to seed investment to propel further their growth.”
Sam Evans, Managing Director at Eos Venture Partners, says: “We are hugely excited to partner with SBC InsurTech, the leading independent InsurTech Accelerator programme located in Europe and one of the most respected on a global basis. We are looking forward to working with the team and its cohort on the next program, helping to identify, develop and support the next wave of innovation that will transform the insurance sector. Accessing capital as an early stage start up can be very challenging and unwieldy, so we are delighted to provide a solution to leading entrepreneurs in the sector.”
Based in London, Startupbootcamp InsurTech runs an extensive three-month accelerator program with ten startups. Currently in its second year, Startupbootcamp InsurTech is overjoyed to see more tech startups taking an insurance angle to create offerings that meet the needs of an industry that is ripe for innovation.