Odie Pet Insurance collects $3m in funding to support technology development

Odie Pet Insurance has raised more than $3m in a funding round, which will help it bolster its technology.

The InsurTech, which was built to democratise pet insurance, will use the capital to make product and technology enhancements, including claims and payments automations. Funds will also be used to increase member portal functionality, expand partnership integrations, hire more staff and improve the member experience team.

Walkabout Ventures and SLOW Ventures served as the lead investor, with contributions also coming from unnamed New York-based family offices and individual investors.

Odie’s platform is aimed at Millennials and Gen Z, and claims to remove the shortcomings of legacy per insurance by offering better coverage, flexibility, stability and predictability with annual premiums.

The platform, which claims to have monthly plans around 15-30% cheaper than competitors, enables customise to customise their plans. Protections include unexpected accidents and illnesses, emergency care, office visits, rehab, prescription medications and more.

Walkabout Ventures general partner Josh Diamond said, “We were excited by Odie’s diverse growth strategy. Their abilities to provide embedded pet insurance solutions and a high level of customization to partners was a key differentiator.”

Fellow pet insurance platform, Bought By Many, recently collected $350m in its Series D round. The InsurTech raised the funds at a pre-money valuation of $2bn.

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