Majesco TL
Follow Us
ITA MEMBERSHIP

INSURTECH

INSURTECH

Roost Announces $10.4 Million Funding Round

Staff Writer | August 24, 2017

Roost, a provider of home telematics for property insurance carriers and creator of the Roost Smart Battery and the Roost Smart Water Leak and Freeze Detector solutions, announced it has closed a $10.4 million Series B funding round.

The new funding includes investments from three Insurance companies led by Aviva Ventures, with participation by Desjardins Insurance and Fosun RZ Capital. Existing investors also participated in the round, bringing Roost’s total funding to date to $17 million. 

 “As a corporate venture fund, we look for innovative businesses around the world that will shape the future of insurance and we are delighted to be entering the US market with this investment in Roost,” says Aviva Ventures’ managing director, Ben Luckett. “Roost has great technology and a strong team. In the UK, we have been offering Roost Smart Batteries to our home insurance customers and I am excited about how this investment supports our ambition to empower our customers to prevent bad things from happening, rather than fixing it when something goes wrong.”

“The launch of our Alert program in March, enabled by Roost’s Smart Water Leak and Freeze Detector, has contributed in driving policyholder engagement and loyalty,” says Boris Collignon, vice president strategy, innovation and strategic partnerships for Desjardins. “Our policyholders can take advantage of this free solution to quickly mitigate water leak situations before damage occurs and to avoid this type of stressful situation as much as possible.” 

“We are very excited to have the participation of three major insurers in our latest investment round,” says Roel Peeters, co-founder and CEO of Roost. “This commitment is a strong validation of Roost’s value proposition as a leader in the emerging home telematics insurance segment. The new funding will be used to continue our product development efforts as well as expand new product services for our insurance partners.”


Featured articles

MT 4 10 2018 Large RHS

Majesco RH

ELECTRONIC CHAT

The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.

ITA LIVE 2019

The tide is up! It's time to register for ITA LIVE 2019, our annual educational and networking conference! Our theme is "The InsurTech Revolution: Cutting Through the Hype." and we'll be bringing in a torrent of industry thought leaders, amazing insight and wonderful perspectives on the world of insurtech and its impact on the insurance landscape.

ITA LIVE 2019 will present real-life examples of true startup technologies that are helping insurers gain real advantage -- and a competitive edge -- in the marketplace. We’ll highlight the more successful InsurTech partnerships, while offering case studies that demonstrate exciting innovation and cutting-edge techniques impacting all aspects of the insurance ecosystem.

Ride the wave to LIVE 2019. Sign up today! We look forward to seeing you in May, 2019!

BLOGS AND COLUMNS

only online

Only Online Archive

ITA Pro Buyers' Guide

Vendor Views

Partner News