Insurtech startup Zopper has raised $75 million in a Series C round. The funding round was led by Creaegis along with ICICI Venture and Bessemer Venture Partners.
The round also saw participation from existing investors, Blume Ventures and Tiger Global.
Gagandeep S Chhina, Director - Private Equity, ICICI Venture, “We believe that technology will play an important role in improving distribution efficiency and increasing penetration of insurance and assurance products. Given ICICI Venture's successful investment track record in the Insurance sector, we think Zopper is well-positioned to capture this long-term growth opportunity.”
He also said that the company is excited to support the management team's vision to establish Zopper as a leading insurtech player with its scalable technology, multiple insurer tie-ups and partnerships with distribution channels across sectors.
The data analytics platform was founded in 2011 and its aim is to democratise insurance distribution access via its SaaS platform.
"Our deep understanding of technology, data and insurance products has given rise to the next-generation SaaS-enabled distribution platform. The Insurance industry is yet to witness the usage of such tech-enabled products,” said Surjendu Kuila, co-founder and CEO, Zopper.
He also added that through this platform, Zopper is bringing partners and insurers together and spearheading a profound transformation in the realm of insurance distribution. We have exponentially grown in the last 4 years and will continue to grow at a significant pace in the years to come.