We are excited to announce that Roost has closed a $10.4 Million Series B funding round with three new Insurance partners. Aviva Ventures led the round followed by Desjardins Insurance and Fosun RZ Capital with additional participation from our existing investors to total $17 Million funding to date.
Pretty amazing as well as quite humbling.
The Insurance Play
We are convinced that the decision we made over a year ago to shift our go-to-market strategy squarely at the property insurance segment continues to be validated. Today’s announcement of new strategic insurance investors as well as partnership deployments demonstrates that the market is acting and embracing the value proposition of “Home Telematics.”
Read the Official Release
- Desjardins – Less than 5 months ago, we launched our first large-scale deployment with Desjardins Insurance in Canada with the Roost Smart Water Leak and Freeze Detector. They are experiencing increased engagement and loyalty with their policyholder base that has received the free Roost devices.
- Aviva – Most recently, Aviva has been focusing at offering our Smart 9V Batteries to their home insurance customers in the UK market. Their intent is to enable proactive protection for smoke alarm safety in the home as well as building peace-of-mind for their consumers.
Stay tuned for other exciting insurance partnership announcements in the coming weeks and months!
Home Telematics Consortium
As many of you are aware, Roost has partnered with Willis Towers Watson to help the property insurance industry take advantage of the data that Roost devices collect through our Home Telematics Consortium. We are continuing to gain traction on this program and are looking forward to sharing more soon! If you are still interested in joining the consortium, please reach out to Jim Strickland at, Strickland@roostlabs.com
- Internet of Business Insurance: Austin, TX – Sept 26-27
- InsureTech Connect: Las Vegas, NV – October 3-4
- InsureTech Rising London – October 16-18
From everyone here at Roost HQ, we want to thank you for your continued support and loyalty.
The Roost Team