Friday, December 2, 2022

Bolttech, US$180M Funding In Series A Round, Now Its Valuation $1B

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Bolttech Solutions is a company that delivers a platform that links insurance companies based on a bolt insurance relations solution. The business presents a range of products such as bolttech exchange enterprise for insurance carriers; bolttech trades amplify for innovators. Bolttech business unifies for mid to effective agents and brokerages, and bolt access for separated agencies.

Bolttech series 1b leereuters

On July 1, 2021 – Bolttech, one of the speediest growing multinational insurance companies, today announced the completion of the oversubscribed US $180 million series A budget hoop led by Activant Capital Group (“Activant”), hooked by investors including Tony Fadell – Principal at Future Shape, Alpha Leonis Partners, Dowling Capital Partners, B. Riley Venture Capital, and Tarsadia Investments.

The investment competition is the numerous extended series A rounds for insurance. It values bolt tech at more than US$1 billion, showing the insurtech unicorn position only one year after its launch in 2020.

Bolt tech was created to transform how insurance is bought and sold with a vision to link people with better methods to protect the things they treasure. With a full suite of digital and data-driven credentials, bolttech powers relationships between insurers, distributors, and consumers to make buying and marketing insurance and security products more convenient and efficient.

The company’s insurance business is the largest in the world, transacting US$5 billion in dividends on the platform, delivering a gateway to more than 5,000 products and 150 insurance providers.

Reinforced by a team of 1,400 employees, bolt tech operates with partners such as insurers, telcos, retailers, banks, e-commerce, and digital goals to seamlessly embed insurance into their consumer journeys at the matter of need.

To date, bolt tech includes built a global footprint that serves more than 7.7 million customers in 14 markets across three mainlands – North America, Asia, and Europe, with licenses in 50 states in the U.S. and several important markets in Asia and Europe-wide.

Rob Schimek, bolttech’s Group Chief Executive Officer, said, “We are happy to welcome our new investors, and together with their support and partnership, we look forward to continuing on our mission to evolve the world’s leading technology-enabled ecosystem for security and insurance. This investment will support us connect even more insurers, distributors, and customers on our platform, shaping the future of insurance distribution.”

The investment will accelerate bolttech’s ongoing growth and plans to crystallize its leading position in the United States. Over the past year, bolt tech has grown its business customers by threefold and distribution blocks by ninefold in the United States.

The extra capital will support bolttech further enable its partners and customers with improved technology and digital capabilities and strengthen its existence in its existing markets while developing internationally.

As part of the investment, Richard Benson-Armer, Partner at Activant, will join bolttech’s board of directors which already contains Peter Hancock, Robert Kyncl, and Malcolm Turnbull, amongst others.

Steve Sarracino, Founder, and Partner at Activant told, “As avid investors in trade infrastructure and insurance, we understand the ability required to join this highly fragmented industry while eliminating excessive friction and unlocking the consumers’ purchase experience want.

The scale and range of bolttech’s platform push them into a clear insurance leader and an industry enabler. We’re eager to partner with Rob and the global team as they redefine what’s possible in insurance.”

Richard Li, Chairman of Pacific Century Group, said, “Rob is the best leader, pioneering the installation of the bolttech professional, as he has likewise proven himself instrumental to growing FWD in the region. I am sure that under Rob’s guidance, bolttech will become a world-leading player in the InsurTech space.”

Pacific Century Group (PCG) today declared the appointment of Rob Schimek as Group Chief Executive Officer (CEO) of bolttech Group (“bolttech”), a new international digital insurance company with a mission to create the world’s leading technology-enabled ecosystem for security and insurance.

With four critical abilities, including device protection, digital brokerage, technology services, and general digital insurance, bolttech aims to help insurers, distributors, and partners deliver a seamless protection and insurance experience to their customers.

The various businesses are already present in 11 markets across Asia, North America, and Europe, with 7.7 million customers and 1,400 employees.

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