Inside P&C: Newfront to Invest in Tech, Geographic Growth After $200mn Raise: CEO Lipkin
InsurTech brokerage Newfront is planning to invest in technology and expand geographically, CEO Spike Lipkin told Inside P&C after the announcement of a $200mn raise that valued the company at $2.2bn.
“We have built a product that we're very proud of, but we also have an incredible amount left to build,” Lipkin said. Newfront’s raise comes at a time when private InsurTech valuations are beginning to “normalize”, as a combination of pulled IPOs and punishing market conditions for public InsurTechs create downward pressure.
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