MetroMile

Daily Crunch: Mac sales down 10%, iPhones up 3% — Breaking down Apple’s quarterly numbers

Hello, friends, and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.

Lemonade closes on acquisition of insurtech Metromile, promptly lays off about 20% of its staff

Publicly traded Lemonade has laid off about 60 employees of Metromile, the auto insurtech company it recently acquired — adding to the volatility the technology sector has seen over the past 18 mont

Just how wrong were those SPAC projections?

Why are companies that went public via SPACs struggling? Did they catch a headwind from changing market conditions that previously pushed them forward? You bet. But the damage is also self-inflicted.

Why 2022 insurtech investment could surprise you

Insurtech startups that can retain a tech multiple have a shot at keeping their valuation intact; those that don’t may struggle.

6 things in cybersecurity we didn’t know last year

The past 12 months in cybersecurity have been a rough ride. In cybersecurity, everything is broken — it’s just a matter of finding it — and this year felt like everything broke at once, espe

As valuations soar and IPOs accelerate, the public is taking on more startup risk

We're seeing the quality of tech companies that go public at times decline, leading to more risk available to consumer investors -- not just the professionals.

Why have the markets spurned public neoinsurance startups?

The companies we're examining cover auto insurance (Root, MetroMile), home and rental insurance (Hippo, Lemonade), and health insurance (Oscar Health). All are taking a whacking by the market. Why?

What happens when Wall Street falls out of love with your sector?

Either the neoinsurance companies' long-term models will come to fruition thanks to large cash balances providing runway to prove their point, or Wall Street is correct -- they were always overvalued.

A lot of cash and little love: An insurtech story

The players in the space that we can name and track are generally cash-rich and market-sentiment poor.

Volkswagen says a vendor’s security lapse exposed 3.3 million drivers’ details

Volkswagen says more than 3.3 million customers had their information exposed after one of its vendors left a cache of customer data unsecured on the internet. The car maker said in a letter that the

Geico admits fraudsters stole customers’ driver’s license numbers for months

Geico, the second-largest auto insurer in the U.S., has fixed a security bug that let fraudsters steal customers’ driver’s license numbers from its website. In a data breach notice filed w

Next Insurance raises $250M, doubling its valuation to $4B in under a year

Next Insurance recently announced that it has raised a $250 million round, valuing the SMB-focused insurance provider at $4 billion. The company last raised another $250 million in September 2020, at

As more insurtech offerings loom, CEO Dan Preston discusses Metromile’s SPAC-led debut

We spoke to Metromile CEO Dan Preston about what the day meant for his company and learn more the SPAC process for our own enjoyment.

Metromile says a website bug let a hacker obtain driver license numbers

Car insurance startup Metromile said it has fixed a security flaw on its website that allowed a hacker to obtain driver license numbers. The San Francisco-based insurance startup disclosed the securit

One final $100M ARR company and the startups we want to meet in 2021

As we head toward the exits of 2020, we have one more name to add to our roll call of private companies that have reached the $100 million annual recurring revenue (ARR) milestone. Well, one and a hal

As Next Insurance makes its first acquisition, insurtech looks energetic

Expect to keep hearing about insurtech for quarters and quarters to come.

It’s holiday season for tech unicorns

Did you follow all of the unicorn news from the last couple of weeks? No? Here’s a list of headlines to catch you up....

As Metromile looks to go public, insurtech funding is on the rise

Earlier this week, TechCrunch covered the latest venture round for AgentSync, a startup that helps insurance agents comply with rules and regulations. But while the product area might not keep you up

The Station: COVID’s effect on car ownership

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox. Hello and welcome back to The Station

Insurtech’s big year gets bigger as Metromile looks to go public

In the wake of insurtech unicorn Root’s IPO, it felt safe to say that the big transactions for the insurance technology startup space were done for the year. After all, 2020 had been a big one f
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