Steadily Raises $28.5 Million For Its Real Estate Insurance Platform
Summary
Online landlord insurance start-up Steadily has raised $28.5 million in a new round of funding.The Austin-based start-up has built a platform for landlords to browse and purchase insurance products for their residential properties.The Series B round was led by Zigg Capital, which invests specifically in real estate technology companies. Other firms that backed the round include Matrix Partners, Koch Real Estate Investments, Clocktower Technology Ventures, and Nine Four Ventures.Steadilys platform is a direct-to consumer insurance product. "Steadilys product can automate some of the data entry functions on applying for an insurance quote, making the experience less cumbersome for the applicant.Users can get a quote in minutes and can follow up with an insurance agent for follow-up queries.Steadily, which has now raised $59.5 million in total, said in a statement that it plans to invest in expanding the current offering and developing new products and services, including deploying internet-of-things devices at properties to assess damages and manage claims.Dave Eisenberg, managing partner at lead investor Zigg Capital, said that Steadily can greatly improve the existing experience for clients in the real estate industry. "When it comes to real estate, the category has been slower to evolve, and insurance in specific has a reputation for outdated processes and lackluster service," Eisenberg said. The team is fulfilling an unmet need in a growing market and continuing to better itself over time with a clear focus on user experience at every touch point.