COMPANY INFO
Boost Insurance USA, Inc. is a digital insurance platform company founded in 2017 by Alex Maffeo. It is headquartered in New York, NY, and has 28 employees as of 2024. The company operates in the Other Insurance industry and its website is boostinsurance.com. Boost's platform is designed to build, embed, and deliver insurance products by packaging operational, compliance, and capital components, enabling clients to monetize the insurance vertical efficiently.
Boost Insurance is a digital insurance platform founded in 2019 and headquartered in New York, NY. Operating in the Other Insurance industry, Boost Insurance is led by founder Alex Maffeo and employs 28 people as of 2024. The company’s platform is specifically designed to help clients build, embed, and deliver insurance products, packaging operational, compliance, and capital components so that businesses can efficiently monetize the insurance vertical.
Boost Insurance funding history is notable, with the company raising a total of $37 million across 4 funding rounds, including seed, early-stage, and private equity (PE) rounds. These rounds demonstrate a strategic approach to scaling both product capabilities and market reach. Notable milestones include an impactful Series B round and a recent private equity raise in 2024. Boost Insurance funding strategy has been to attract prominent venture capital and industry investors to support its fast-paced growth and ambitious goals in transforming the insurance value chain.
This most recent round, led by BHMS Investments, was aimed at accelerating Boost Insurance's growth and scaling operations. The use of funds is expected to focus on expanding market share and enhancing the platform’s capabilities.
The Series B round was led by RRE Ventures and brought in $20 million. The capital was used for market expansion initiatives and further development of core technology, consolidating Boost Insurance's position as an innovative player in the insurance sector.
In the Series A round, Boost Insurance raised $14 million under the leadership of Coatue. The funds were allocated for product development, enabling the company to expand their insurance offerings and enhance their digital platform.
The company’s seed round, led by Norwest Venture Partners and IA Capital Group, saw Boost Insurance raise $3 million to support its initial launch and early stage operations. This funding was key to establishing the company’s operational footprint.
Greycroft is a leading venture capital firm with a portfolio spanning numerous high-growth technology companies. As a Boost Insurance investor, Greycroft played a role in supporting the company’s funding rounds and strategic growth.
Norwest Venture Partners is a global venture capital and growth equity investment firm. Their involvement in Boost Insurance funding underscores the firm’s confidence in Boost’s approach to insurance technology and scalability.
RRE Ventures, a prominent early-stage venture capital investor, led Boost Insurance’s Series B round. Their support played a pivotal role in funding the company’s market expansion and technological advancement.
Coatue is a technology-focused investment manager known for backing high-potential startups. Coatue’s participation in the Series A round was instrumental for advancing Boost Insurance’s product development efforts.
BHMS Investments led Boost Insurance’s private equity round in 2024. Their investment is focused on fueling Boost Insurance’s aggressive scaling and market reach.
IA Capital Group, a fintech and insurtech specialist VC firm, participated in Boost Insurance’s early rounds, helping fund the company’s foundation and product innovation.
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