Steadily Secures $30M Series C Funding to Revolutionize Landlord InsurTech and Expand Nationwide
Steadily, a leading InsurTech for landlords in the United States, has successfully raised $30 million in a Series C funding round. This investment will aid the company in its mission to expand nationally and enhance its technological offerings tailored for rental property owners.
Funding Details and Company Valuation
The funding round was spearheaded by Two Sigma Ventures, elevating Steadily’s valuation to an impressive $355 million. Other notable participants in this funding round include:
- Clocktower Technology Ventures
- Belfer Investment Partners
- Nine Four Ventures
- Matrix Partners
About Steadily
Founded in 2020, Steadily specializes in providing digital insurance solutions tailored to meet the unique needs of the 18 million individual rental property owners across the United States. The company has rapidly gained traction by offering swift and cost-effective landlord insurance options for real estate investors, boasting over $250 million in annualized gross written premium.
Use of Funds
The newly acquired capital will be directed towards:
- Enhancing service speed and claims processes
- Investing further in technology
- Strengthening integrations with property technology platforms
Innovative PropTech Integrations
One of the main drivers of Steadily’s growth has been its robust integrations with over 400 PropTech platforms, including:
These integrations simplify the process for landlords by allowing them to generate insurance estimates without manual data entry.
Leadership Insights
Steadily’s CEO and co-founder, Darren Nix, shared the inspiration behind the company: “The idea for Steadily was planted eight years ago when I faced challenges obtaining insurance for my first rental property. After launching Steadily, I became its first customer, which helped us truly empathize with our clients.”
Commitment to Landlords
Nix emphasized the company’s commitment to technology: “We’ve invested tens of millions in tech so that users can easily purchase high-quality insurance in seconds. This latest funding will enable us to further enhance our service and claims process.”
Market Impact and Future Outlook
Colin Beirne, a partner at Two Sigma Ventures, noted, “Individual landlords, who own 40% of America’s rental units, have long been underserved by the insurance industry. Steadily has created a tailored solution that addresses their specific needs.”
As Steadily continues to innovate and expand, it aims to significantly transform the insurance landscape for the millions of property investors across the country.
For more information on landlord insurance options, you can visit Steadily’s official website.
