Trov Closes $45M in Series D Financing
Summary
Trov, a San Francisco, CA-based insurtech company, closed $45m Series D funding.The round – which brought total funding to just over $85m – was led by Munich Re/HSB Ventures with participation from Oak HC/FT, Suncorp Group (ASX:SUN), Guidewire (NYSE: GWRE), Anthemis, and Sompo Holdings (SOMPO), who will bring Trov to Japan.The company intends to use the new capital to bring its platform globally, expand the categories of items it covers, and accelerate the development of new applications.Trov launched in Australia in May 2016, where it is underwritten by Suncorp, and the UK in December 2016, where AXA is its underwriting partner.Trov, which will be an MGA in the USA, will be released stateside in 2017, with Munich Re providing its underwriting capital and licensing.