Cooley LLP advised Pie Insurance on the deal.
Pie Insurance, an insurtech specializing in workers’ compensation insurance for small businesses, announced its $118 million Series C financing round, which brings the company’s total equity funding raised to more than $300 million.
Allianz X and Acrew Capital co-led the round, which also included participation from existing investors Greycroft, SVB Capital, SiriusPoint, Elefund and Moxley Holdings. Pie will use the new capital to invest further in technology and automation, as well as to grow its core workers’ compensation insurance business and lay the groundwork for new business offerings in 2021 and beyond.
Pie is modernizing small business insurance by automating the entire experience to provide simple, trusted and affordable coverage. Since 2017, the company has grown its gross written premium to more than $100 million and partnered with 1,000+ agencies across the US.
The Cooley team included Derek Colla (Picture), Chris Kimball, Christian Plaza, Megan Browdie, Karen Tsai, Sam Lipson, Maggie Rowe and Rubin Waranch.
Involved fees earner: Megan Browdie – Cooley LLP; Derek Colla – Cooley LLP; Christopher Kimball – Cooley LLP; Samuel Lipson – Cooley LLP; Christian Plaza – Cooley LLP; Marguerite Rowe – Cooley LLP; Karen Tsai – Cooley LLP; Rubin Waranch – Cooley LLP;
Law Firms: Cooley LLP;
Clients: Pie Insurance;