Goose Insurance announced today it has closed a $4 million Series A funding round led by Axis Insurance Managers, with participation from Impression Ventures, Real Ventures, and Manchester Story.
The Vancouver-based insurtech startup will use the funding to accelerate the adoption of its consumer-focused insurance super app in Canada and the U.S. through education and awareness initiatives.
Goose has experienced rapid adoption and growth in the past year, doubling its membership base and premiums.
Goose members can purchase over 19 different insurance policies across 30 states in the U.S. and 8 provinces in Canada including travel, renters, pet, critical illness, and up to 1 million of term life insurance, all within minutes from the Goose super app.
Goose has expanded its product offerings by working closely with carriers like AIG, IMG, iA Financial Group, TeachersLife, and American Amicable. Goose was also recently appointed a coverholder for Lloyds of London.
“We’re on a mission to make insurance products instantly accessible to the 200 million underserved consumers through our self-serve insurance super app,” states Dejan Mirkovic, Goose’s President and CEO.
“Goose offers some of the most affordable life, health, and travel insurance policies in North America.”
Goose has found that coverage gaps exist among certain consumer groups due to lack of education on the need for life insurance and awareness about affordable and accessible insurance options, creating opportunities for further sector growth.
“There is a big void in the market today for a digital and app-first insurance brand that gives consumers the ability to discover and buy affordable insurance products 24/7 in minutes completely self-serve,” explains Hamzah Nassif, Real Ventures’ Partner.
“Having first invested in Goose in 2020 and seen its unique approach, the team’s ability to execute, and the positive response from customers and insurance partners alike in both Canada and the US, we believe Goose will be a market-leading player in this space and are excited to join the team and our co-investors in this new round of funding.”
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