Steadily Insurance Agency Inc.'s new $28.5 million series B round will catapult the momentum that already has generated 325% year-over-year revenue growth.
Founded in 2020, the direct-to-consumer insurance provider targets owners of single-family and small multifamily rentals nationwide. To date, it has raised $59.5 million in funding, including a $27.2 million Series A in 2021.
New York City-based venture capital firm Zigg Capital led the Series B, which included participation from Matrix Partners, Koch Ventures, Clocktower Technology Ventures and Nine Four Ventures.
“As property investors ourselves, we understand the unique challenges and needs of rental property owners,” Steadily co-founder Datha Santomieri said. "The ongoing support from our investors enables Steadily to continue scaling quickly to meet the growing demand of our product with investors nationwide."
Steadily’s digital platform pre-fills information, such as property size and year constructed, and can generate a quote online in minutes. The startup has dual headquarters in Austin and Overland Park, Kansas.
“Zigg looks to invest in companies that have the potential to dramatically improve the existing experience for clients,” Zigg co-founder and Managing Partner Dave Eisenberg said in an announcement. “When it comes to real estate, the category has been slower to evolve, and insurance in specific has a reputation for outdated processes and lackluster service. Clients are demanding a more modern experience from their insurers, and Steadily has proven itself a standout leader in this space. The team is fulfilling an unmet need in a growing market and continuing to better itself over time with a clear focus on user experience at every touch point.”
