Odie Pet Insurance collects $3m in funding to support technology development

Odie Pet Insurance coverage has raised greater than $3m in a funding spherical, which can assist it bolster its expertise.

The InsurTech, which was constructed to democratise pet insurance coverage, will use the capital to make product and expertise enhancements, together with claims and funds automations. Funds will even be used to extend member portal performance, broaden partnership integrations, rent extra employees and enhance the member expertise staff.

Walkabout Ventures and SLOW Ventures served because the lead investor, with contributions additionally coming from unnamed New York-based household places of work and particular person buyers.

Odie’s platform is aimed toward Millennials and Gen Z, and claims to take away the shortcomings of legacy per insurance coverage by providing higher protection, flexibility, stability and predictability with annual premiums.

The platform, which claims to have month-to-month plans round 15-30% cheaper than opponents, allows customise to customize their plans. Protections embody surprising accidents and diseases, emergency care, workplace visits, rehab, prescription drugs and extra.

Walkabout Ventures normal companion Josh Diamond mentioned, “We had been excited by Odie’s numerous progress technique. Their talents to offer embedded pet insurance coverage options and a excessive stage of customization to companions was a key differentiator.”

Fellow pet insurance coverage platform, Purchased By Many, not too long ago collected $350m in its Collection D spherical. The InsurTech raised the funds at a pre-money valuation of $2bn.

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