Washington-based fintech company Pie Insurance has secured $45 million in Series B funding, topping the city’s recent funding headlines, according to company database Crunchbase. The cash infusion was announced March 5 and led by SVB Capital.
According to its Crunchbase profile, "Pie Insurance is a workers’ compensation insurance company that provides workers’ comp coverage to small businesses through a simple online experience. Pie leverages extensive, high-quality data sets to segment and price small business policies, accurately assessing risks and passing savings on to small business owners."
The two-year-old startup has raised two previous funding rounds, including a $11 million Series A round in 2018.
Over the past year, 23 Washington-based financial services companies have secured venture funding, totaling $614 million in new investment to the local industry.
In other local funding news, app-based prenatal health company Babyscripts announced a $500,000 corporate round on March 19, financed by Inova Health System.
According to Crunchbase, "Babyscripts is the only doctor delivered digital health tool that enhances the doctor/patient relationship outside the four walls of the clinic during routine, low risk pregnancy care. Babyscripts leverages the full power of technology to elevate the standard of prenatal care. When a patient is enrolled into the program by their OBGYN, they receive our mobile app."
Founded in 2013, the company has raised six previous rounds, including a $6 million corporate round earlier this year.