Assured Allies secures $42.5M Series B to help Americans ‘successfully age’

Assured Allies, an insurtech company focused on retirement savings, announced today the closing of $42.5 million in Series B funding.

It’s a pretty significant Series B size given the challenging fundraising environment for insurtech companies noted by several of my colleagues in recent stories.

For example, Kyle Wiggers reported that investment into the sector fell in the fourth quarter of 2022 to its “lowest level since Q1 2020,” Anna Heim spoke with investors who are still hanging in there and Mary Ann Azevedo wrote about M&A exits, which insurtech led in 2021.

All said, Assured Allies joins with insurtech companies around the world that did manage to secure some decent funding recently, including Equisoft, Naked Insurance, Turaco and Acko.

The round was co-led by FinTLV Ventures and existing investor Harel Insurance, which were joined by new and existing investors, including Lumir Ventures, Hamilton Lane, New Era Capital Partners, MS&AD Ventures, Core Innovation Capital, Poalim Equity, EquiTrust Life Insurance Co., Akilia Partners and Samsung Next. It brings the company’s total capital raise to $65 million.

The new funding follows a year where Assured Allies secured partnerships with several leading long-term care insurance carriers and saw 300% growth in the number of members using Assured Allies’ platform to, as co-founder and CEO Roee Nahir describes, “successfully age.”