PolicyBazaar

insurtech | aggregators / policy management

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449 VISITORS | 830 VIEWS

FOUNDING YEAR: 2008

LOCATION:

India

REGION:

Haryana

Last Update:
13 Feb, 2020

Description

Policybazaar is an online life insurance and general insurance comparison portal. They are specialized in making comparative analysis of the insurance products. The basis for the comparison is price, quality and key benefits.

FOCUS

PRODUCTS & SERVICES:

Comparison portal for life insurance & general insurance products. Provides a comparison between all the insurers along with product reviews which helps the customers to take a decision.

REVENUE MODEL:

Viewable by subscribers only

MAIN CLIENTS:

Online Retail insurance buyers

EXISTING PARTNERSHIPS:

PNB Metlife, Aegon Life, Exide Life, Cigna, Future Generali, Bajaj Allianz Life, Indiafirst Life Insurance, Max Life Perfect, etc.

COMMENT

Since they have integrated more than 30 insurers, the customer can compare quotes from multiple insurers and select the product which suits his needs

PEOPLE

FOUNDERS:

Alok Bansal, Yashish Dahiya

Board Members and Advisors:

Parag Dhol

NUMBER OF EMPLOYEES:

1000+

INVESTORS:

ABG Capital, Info Edge, Info Edge India Ltd., Intel Capital, Inventus Capital Partners, PremjiInvest, Ribbit Capital, Steadview Capital, Tiger Global Management, True North and IDG Venture Partners, Wellington Management Group, SoftBank

TRACTION

ACTIVE USERS:

5.0000

COMMENT:

In 2015-16, sales at Policybazaar grew 30% to Rs109 crore while losses widened 72% to Rs110 crore.

MOMENTUM

FUNDED:

YES

TOTAL FUNDING:

$500.85 Millions

DATE OF LAST FUNDING:

Nov 2019

TOTAL FUNDING COMMENT:

After the recent funding, the company's valuation has been increased to over $1 billion and it will use the funds to prepare itself for the upcoming IPO.

SEED & PRIOR FUNDING:

$4.25 Millions

SEED CLOSED ON:

Sep 2008

SEED PRIOR FUNDING COMMENT:

The company raised $4.247 million of seed funding from Info Edge in September 2008.

FUNDING SERIES:

SERIES A

$4.6 Millions Closed: Feb 2013

SERIES B

$5 Millions Closed: Apr 2013

SERIES C

$20 Millions Closed: May 2014

SERIES D

$40 Millions Closed: Apr 2015

SERIES E

$77 Millions Closed: Oct 2017

SERIES F

$200 Millions Closed: Apr 2018

SERIES G

$150 Million Closed: Nov 2019

COMMENTS

SERIES A : The company raised $8.493 million from Info Edge and Intel Capital in April 2011. SERIES B : The company raised $5 million of Series B funding from Intel Capital in April 2011. SERIES C : The company raised $20 million of Series C funding from Tiger Global & Ribbit Capital in May 2014. SERIES D : The company raised $40 million of Series D funding from PremJiInvest, Steadview, and ABG Capital in April 2015. SERIES E : The company raised $77 million of Series E funding from True North, IDG Venture Partners, Wellington Management Group, Temasek, Tiger Global Management and Premji Invest in October 2017. SERIES F : The company raised $238 million of Series F funding from SoftBank, Temasek and Info Edge in June 2018. SoftBank invested $150000000 in the round.

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