State Farm Ventures announced the expansion of its venture capital investment fund to $200 million, up from the initial commitment of $100 million in September 2018. The fund focuses on start-up companies that align with the strategic goals of State Farm, which include helping meet customers’ needs in more ways. “Throughout our 100-year history, continuous […]
State Farm Ventures Among Investors in AI-Computer Vision Company
Nexar’s network of dash cameras collect more images that are being used to create a complete digital twin of U.S. roads. Nexar, an artificial intelligence (AI) computer vision company, announced the completion of a $53 million Series D funding round led by Qumra Capital with the participation of State Farm Ventures, Catalyst Investments, Banca Generali, […]
Nationwide Invests in ADAS Validation Platform Provider Foretellix
Nationwide, the insurance and financial services company is making a venture capital investment in Foretellix, a platform provider automating the testing, verification, and validation for automated driving systems, both ADAS and AV, and ensuring safety. The investment is part of the Israel-based company’s Series B funding round and comes from Nationwide’s $350 million venture capital […]
Nationwide Expands Venture Capital Investment Fund to $350 Million
Nationwide announced it is expanding its venture capital investment fund to $350 million. The funding will be directed into high-growth potential insurance and financial services startups that directly advance Nationwide’s strategy and enable even greater customer value. To date, Nationwide’s venture capital team has invested in 25 companies and has helped facilitate 31 partnerships between […]
State Farm Venture Capital Arm Looks for Start-Ups to Fund
State Farm Ventures highlighted its search for disruptive technologies that would benefit State Farm Policy holders and has added the ability to pitch ideas at its new website. State Farm Ventures, a wholly owned subsidiary of State Farm, launched in 2018 with a $100 million investment commitment and has already provided funding to nine companies. […]
Tractable Raises $25M in Series C Investment Round
Tractable, the technology company developing artificial intelligence (AI) for accident and disaster recovery, announced a $25 million Series C investment, led by Georgian Partners with participation from existing investors, including Insight Partners and Ignition Partners. The round nearly doubles the total raised by Tractable, to $55 million. The investment will be used to accelerate Tractable’s […]
New Mountain Capital Invests in Classic Collision
Classic Collision, Inc., the Atlanta, Ga.-based multi-store operator (MSO) of 34 collision repair facilities in the Southeastern U.S., announced that it has partnered with New York-based New Mountain Capital, a growth-oriented investment firm with over $20 billion in assets under management. Terms of the transaction were not disclosed. Founded in 1983, Classic is currently the […]
State Farm Launches $100 Million Venture Capital Initiative
State Farm, the largest insurer of cars and homes in the U.S., announced the launch of a $100 million venture capital initiative through its newly formed State Farm Ventures LLC. State Farm Ventures will focus on investing in startups developing technologies and products in order to fulfill customer needs in ways they wouldn’t think possible […]
Root Insurance Raises $100 Million Funding, Enters Oregon Auto Insurance Market
Root Insurance, the car insurance company that incorporates individual driving behavior in every quote, announced yesterday $100 million in Series D funding. This latest round, led by Tiger Global Management, raises Root’s valuation to $1 billion and provides additional capital to deepen penetration in existing markets, expand into new states, and fuel hiring plans, with […]
Huron Capital and Former Valspar Exec Form Adhesives and Sealants Company
Huron Capital has co-founded Brudner Polymer Corporation with David Brunori, former Business Director (Americas) for Valspar Automotive, to build a company in the adhesives and sealants industry. Through Brudner, Huron Capital plans to invest in technologically-advanced adhesive and sealant companies serving a variety of geographies and end markets. The company will focus fragmented end markets […]