US-based insurtech Sure announced that it has raised US$100 million during a Series C funding round which values it at US$550 million.

The fundraise was co-led by Declaration Partners LP and Kinnevik AB with participation from WndrCo, FTAC Ventures, Expanding Capital, and existing investors W. R. Berkley Corporation and Menlo Ventures.

Sure that that it will be using the funds to expand its team, accelerate advancements in embedded insurance, and scale the business in international markets to further improve the digital insurance experience.

The startup had previously secured US$23.1 million during a Series B funding round last year in June.

Sure said in a post,

“Today we announce one of the many milestones we’ve achieved on our journey to unlocking the full potential of insurance on the internet.”