Insurtech company bolttech today announced that it has added BRV Capital Management as a strategic investor in the company.
This addition followed the company’s Series A funding announcement that it announced earlier this year.
In September, bolttech has also added US$30 million to the US$180 million Series A.
Investors in this funding round included Activant Capital, Tony Fadell (Principal at Future Shape LLC), Alpha Leonis Partners, Dowling Capital Partners, B. Riley Venture Capital, Tarsadia Investments, EDBI Singapore, and Mundi Ventures.
bolttech aims to use the investment proceeds to continue the acceleration of its international growth strategy.
In a press statement, the company said that BRV’s partnership as a strategic investor will help propel its expansion across Asia, particularly in South Korea where bolttech “has achieved rapid growth by delivering innovative and industry-leading device protection solutions to Korea’s tech-savvy consumers.”
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“We have set out to be ambitious in the implementation of our international growth strategy, moving with speed and conviction to make strategic acquisitions and invest in our talent and capabilities. BRV’s investment is further validation of our unique proposition and vision to connect people with more ways to protect the things they value. We are delighted to welcome BRV as a strategic investor and look forward to capturing the commercial opportunities made possible by this partnership,” said Rob Schimek, Group CEO at bolttech.
As an insurtech platform, bolttech connects insurers, distributors, and customers with the goal to make a more efficient and easier transaction.
The company has a footprint in 26 markets in North America, Asia, and Europe, working with more than 150 insurers and 700 distribution partners. It also has US$5 billion premium transacting through its insurance exchange.
BRV is a tech-focused, Asia-based growth equity arm of BlueRun Ventures. It has an active presence across Seoul, Tokyo, Hong Kong, Beijing, Shanghai, and Menlo Park.
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Image Credit: bolttech
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