Washington, DC – September 26, 2022 – Cooley advised Pie Insurance, an insurtech company focused on providing workers’ compensation insurance for small businesses, on its $315 million Series D financing round, which brings the company’s total equity funding raised to more than $615 million. The financing is the largest round of funding for any US-based property and casualty insurtech company in 2022. Lawyers Derek Colla, Eileen Marshall, Asheley Walker, David Safren and Katherine King led the Cooley team advising Pie. Lawyers Megan Browdie, Alexander Traum and Rubin Waranch advised Pie on regulatory matters stemming from the financing.
Pie Insurance is leveraging technology to transform how small businesses buy and experience commercial insurance, with the goal of making it affordable. Pie’s intense focus on granular, sophisticated pricing and data-driven customer segmentation enables it to match price with risk accurately across a broad spectrum of small business types, allowing Pie to offer more affordable insurance to small business owners. Since 2017, Pie has received more than $615 million in funding and partnered with more than 2,800 agencies nationwide.
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