The company was last valued at $412M in May 2021. Here are the top-line bullets you need to know.
Caribou, an online insurance comparison engine, has raised $115M in a Series C. The round drew participation from Goldman Sachs Asset Management, Accomplice, and Firebolt Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- Washington DC-based Caribou (formerly MotoRefi) offers auto refinance loans and enables users to find and compare auto insurance quotes from a variety of carriers.
- The platform has refinanced over $1.5B in loans since its inception.
- It maintains operations in Washington DC, Austin, and Denver, and it is supported by a team of 500 employees.
WHY DOES THE MARKET MATTER?
- The global insurtech market is expected to reach a value of $152B by 2030, growing at a CAGR of 52%, according to Grand View Research.
- The growing need for digitized insurance services and simplified claims processes is driving growth in this market.
- Insurtech startups saw more than $15B in funding in 2021.