American insurtech platform HOMEE has closed an oversubscribed $17m Series B-2 funding round led by Morningside.
The round was joined by Liberty Mutual Strategic Ventures, State Farm Ventures, Hartford Investment Management Company (HIMCO) and Desjardins.
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HOMEE’s returning investors included Forte Ventures and Activate Capital.
HOMEE intends to use the funds to enhance its technology suite, foray into new markets and expand its network of service providers throughout the US.
HOMEE co-founder and CEO Doug Schaedler said: “HOMEE is in the business of leveraging its technology platform to deliver an amazing claims process for policyholders across the country.
“This financing round will drive significant growth for the Company, and we are excited to have strategic support and investment from some of the top insurance carriers in North America.”
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By GlobalDataThe insurtech platform, which connects insurers, policyholders, and skilled service providers, has raised a total of $36m in Series B funding.
Morningside investment manager Mick Sawka said: “We are excited to invest in HOMEE, and we believe their technology platform and team will continue to solve the key industry challenges in the over $100bn claims market.”
Last week, American cyber insurance company Coalition raised $205m in a Series E funding round at a valuation of $3.5bn.
Last month, another US-based insurtech platform Insurify received a $100m Series B investment led by private equity firm Motive Partners to drive its expansion plans.
