ACKO raises $255M, turns unicorn
ACKO insurance recently announced that it raised $255 million in its Series D round of funding led by General Atlantic and Multiples. The round also saw participation from Canada Pension Plan Investment Board (CPPIB), Lightspeed, and existing investors, Intact Ventures and Munich Re Ventures.
This round has brought the insurtech startup’s valuation to $1.1 billion, making ACKO Insurance this year’s 34th unicorn.
ACKO CEO and founder Varun Dua said, “Acko has meaningfully redefined the protection category for consumers and plans to continue innovating in the space. We strongly believe in supporting our customers in protecting their valued assets or the health and safety of their loved ones via a differentiated product and value-added service. Insurance and protection must work for people based on their unique risks and needs in a seamless, reliable fashion.”
Founded by Varun Dua and Ruchi Deepak, ACKO Insurance offers its users a digital platform for insurance products.
Commenting on the investment, General Atlantics’ Shantanu Rastogi said, “Acko has developed a differentiated and scalable business model based on a singular customer focus, value-based pricing, highly-rated service and deep technology capabilities.”
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