Pie Insurance, which provides workers’ compensation insurance to small businesses, has closed on a $315 million Series D round of funding.
In 2021, the size of this round wouldn’t have turned heads. But in today’s environment, where investors are pulling back and venture funding has slowed considerably, a $315 million raise stands out.
The financing more than doubles Pie’s total capital raised since its 2017 inception to over $615 million. The company claims that it is the largest funding round for any U.S.-based P&C (Property & Casualty) insurtech company this year. But that has not been verified independently by TechCrunch.