Obie Raises $25.5 Million in Series B Funding Round to Expand Embedded Insurance Technology
Summary
Through proprietary embedded insurance solutions, Obie is able to offer investors instantly bindable quotes through industry-leading partner platforms, saving time and unnecessary hassle.The Obie instant quote process leverages data enrichment, accessing multiple databases to apply unique algorithms and analysis to over 1000 data points. This proprietary quote request process allows for a more accurate assessment of risk and the ability to more efficiently underwrite policies, translating to faster quotes for clients, and a seamless experience obtaining insurance through Obie.With a whopping 18M real estate investors in the United States, there is room for the continued growth of Obie within the market. To capture this potential, Obie has already partnered with industry-leading companies across proptech, fintech, property management, and other relevant areas. This growing list of partners includes names such as Baselane, Awning, and Marketplaces Homes, all of which have opted to integrate Obies products into their platforms, offering customers comprehensive insurance coverage directly within their preferred digital channel.With over 75 partners already on board, in addition to this latest round of funding, Obies growth does not appear to be slowing down any time soon. Other Battery Ventures-backed organizations include Affirm, Coinbase, Belong, and Glassdoor.Obie is an insurance technology company, hyper-focused on driving value for the modern real estate investor and the partners they work with every day.