Total insurance industry venture financing deals worth $1.2bn were announced globally in Q3 2021, led by $185m venture financing of At-Bay, according to GlobalData’s deals database.

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The value marked an increase of 7.9% over the previous quarter and a rise of 61.9% when compared with the last four-quarter average, which stood at $759.76m.

Comparing deals value in different regions of the globe, North America held the top position, with total announced deals worth $623.21m in the period. At the country level, the US topped the list in terms of deal value at $606.01m.

In terms of volumes, North America emerged as the top region for insurance industry venture financing deals globally, followed by Europe and then Asia-Pacific.

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The top country in terms of venture financing deals activity in Q3 2021 was the US with 26 deals, followed by the UK with six and Indonesia with three.

In 2021, at the end of , venture financing deals worth $1.2bn were announced globally in insurance industry, marking an increase of 159.9% year on year.

venture financing deals in insurance industry in Q3 2021: Top deals

The top five venture financing deals in insurance industry accounted for 53% of the overall value during Q3 2021.

The combined value of the top five venture financing deals stood at $650m, against the overall value of $1.2bn recorded for the quarter.

The top five insurance industry venture financing deals of Q3 2021 tracked by GlobalData were:

1) Acrew Capital,Glilot Capital Partners,HSB fund,Icon Ventures,Khosla Ventures,Lightspeed Venture Partners – US,M12,Qumra Capital and Shlomo Kramer $185m venture financing deal with At-Bay

2) The $180m venture financing of Bolttech Management by Activant Capital Group,Alpha Leonis Partners,B. Riley Venture Capital,Dowling Capital Partners,Tarsadia Investments and Tony Fadell

3) SoftBank Vision Fund 2 $130m venture financing deal with Envelop Risk Analytics

4) The $85m venture financing of Marshmallow Financial Services by Alexander Kent Braham and twins Oliver

5) Anthemis Group,Creandum,Eurazeo,Latitude (UK),MMC Ventures,Notion Capital,OurCrowd and Target Global $70m venture financing deal with yu life