InsurTech Obie announced that it has raised $25.5 million in a Series B funding round led by Battery Ventures, with participation from Brick and Mortar VC, DivcoWest, and several real estate funds and investor groups.
“We are excited to have the continued support of our investors as we continue to build insurance products that drive efficiency and change the way insurance is bought and sold,” said Obie co-founder and CEO Ryan Letzeiser in a company press release. “This funding supports the future of inline insurance, as we expand our partnerships across industries and bring additional insurance products to customers.”
Founded in 2017, Obie focuses on providing insurance to residential real estate investors and offers an inline insurance distribution strategy. Obie’s instant citation process leverages data enrichment and access to multiple databases to apply algorithms and analysis to more than 1,000 data points.
Obie has attracted more than 75 PropTech and FinTech partners, including Baselane, Awning and Marketplace Homes as embedded partners. With product integration built into partner platforms, Obie offers comprehensive insurance coverage directly within its preferred platform or digital channel.
After raising $10.7m in its Series 1 funding round that closed in 2021, this new round of funding brings Obie’s total equity to date to $39m.