Health and risk insurance firm Hoggo has raised $11m from a Series A round led by venture capital firm Partech.
Partech were joined in the funding round by existing Hoggo investor GFC.
Founded in 2018, Hoggo is focused on tackling group health and risk insurance – a market with a valuation over €34bn in France – for SMEs. The company markets a platform that allows companies to optimise and simplify the management of their health and risk contracts through a single platform.
Hoggo claims it intends to become the ‘leading platform for the distribution and management of health and risk insurance’. According to Partech, Hoggo now supports 2,000 firms, HR managers and business owners who deal with administrative and regulatory management on a daily basis.
Hoggo said its platform allows users to find the best price and guarantee through a free marketplace and also offers firms a platform that connects all the players involved.
According to Hoggo, the recent round of financing will be used to double its staff by the end of the year and to develop new services for its clients, employees and accounting partners.
Hoggo co-founder and CEO Anna Rossin said, “SMEs and employers are overwhelmed with time-consuming administrative tasks that prevent them from focusing on developing their business. We created Hoggo to save them time and free their minds while ensuring they pay the optimal price for their insurance.”
Partech general partner Philippe Collombel added, “Hoggo saw the number of its policy holders triple in 2020. This superb performance presupposes exceptional growth. We are convinced that the market opportunity is significant and have been very impressed by Anna and Louis’ ambitious vision and ability to execute. We are delighted to join them on their great adventure!”
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