US-based insurtech Sure has raised $100m in a Series C funding round led by Declaration Partners and Kinnevik.

The round also saw participation from WndrCo, FTAC Ventures, Expanding Capital, and returning investors WR Berkley Corporation and Menlo Ventures.

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Sure will use the latest funding to accelerate its global expansion, upgrade product portfolio and streamline embedded insurance experiences.

Established in 2015, the insurtech offers a software-as-a-service platform for embedded insurance through application programming interfaces (APIs).

It is said to allow brands and insurance carriers to distribute, service, scale digital insurance, reduce time to market and cost.

Sure co-founder and CEO Wayne Slavin said: “This round will fuel our expansion, enabling us to help the insurance industry reach its full potential in an online era.

“As carriers continue to prioritise digital transformation and brands expand financial services to include insurance, Sure is the proven platform to power insurance programs for the world’s largest companies.”

Sure counts Farmers Insurance, Chubb, Intuit, Betterment, and Carvana among its clients.

In June 2019, the insurtech secured $12.5m in a funding round, which was led by commercial lines property & casualty insurer WR Berkley.

Declaration Partners partner Brian Stern said: “Sure enables companies to embed insurance into their customer journey and powers the digital offerings of insurers, in both cases creating seamless, convenient, and personalized insurance experiences.”

Kinnevik’s Ola Nordbye said: “Sure is emerging as the leading enabler for insurance companies and global brands to build the next generation of products together, and among their customers, you already find our portfolio companies. “