LONDON, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Dale Ventures congratulates insure-tech firm Instanda on its most recent successful funding round that will help the company grow in Europe, the United States, Japan, and the UAE. With an additional $45 million investment round led by Toscafund, Instanda is poised to cement its position as the most adaptive and best-value end-to-end platform for carriers, brokers, and managing general agents.
"It is of no surprise to me that some of the world's best investment firms set their sights on Instanda and have dedicated funds to its continued success," Dale Ventures CEO Dale W. Wood said. "My faith in Tim and his team has not waivered since my first investment, and I am thrilled to continue working with them and their newest partners as Instanda continues to innovate in this demanding field."
Through Dale Ventures, Dale W. Wood was one of the early investors in Instanda. He invested another £2 million in the latest funding round as the company made increasingly obvious its potential to continue finding innovative solutions to problems faced by top-tier insurance providers. Industry veteran Tim Hardcastle founded Instanda to transform the insurance product roadmap and has since leveraged technology to ensure effective mass communication and low distribution costs.
Instanda raised $19.5 million in a 2020 fundraising round and continued its momentum through a strong 2021 by adding 21 new clients worldwide. By the first quarter of 2022, Instanda had grown its global client list to a roster of 70 and secured the business of prestigious companies like Atlanta, Hamilton Fraser, and Standard Bank. At the same time, Instanda improved its talent pool with hires from Hiscox, Aviva, and Accenture and expanded into the property, casualty, and life and health insurance sectors.
"Instanda's no-code insurance core platform was built by insurers for insurers based on the belief that technology should be used to accelerate change and innovation at low cost. This is what sets Instanda apart from the crowd," Instanda founder Tim Hardcastle said. "No other platform allows carriers and MGAs across all lines of insurance to fully embrace the diversity of insurance and respond to the anticipated change in consumer needs and behavior."
It was Instanda's unique design, strength of management, and execution across a wide range of insurance lines, products, and geographies that attracted Toscafund in this latest investment round, partner George Koulouris said, and the company will continue to help insurers break into new markets and embrace the benefits of digital transformation.
"I've said it before, and I'll say it again: Instanda is a genuine innovator," Dale W. Wood said. "There is no doubt Instanda will use this latest round of funding to continue to scale its model to free insurers from burdensome and inflexible legacy tech, transforming the process of product manufacturing, underwriting, and distribution. We can't wait to see what they do next."
About Dale Ventures
Dale Ventures is a personal investment holding group founded by serial investor Dale W. Wood. The company partners with management teams to provide the significant strategic and analytic resources needed to build and grow remarkable companies. Dale Ventures has adopted a consultative approach that harnesses the power of innovative teams to generate groundbreaking ideas, tactics, and strategies that drive growth and build long-term value.
For more information about Dale Wood and his projects, please visit www.Dale.com and Facebook.com/DaleVentures.
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