Steadily, America’s highly-rated landlord insurance company, announced today that it has successfully raised $28.5m in a Series B funding round.
The company is known for its efficient and affordable insurance offerings that cater to the 18 million individual rental property owners across the US, who own the vast majority of single family and small multi-family rentals.
The fresh funding has brought Steadily’s total capital to $59.5m, following a $16m Series A funding round in 2021. The new investment round was led by Zigg Capital and saw participation from Matrix Partners, Koch Real Estate Investments, Clocktower Technology Ventures, and Nine Four Ventures.
Steadily offers a unique digital platform that allows landlords to obtain insurance quotes in minutes, 24/7, from any location across all 50 states. The intuitive platform is designed to deliver a superior customer experience at every touch point, aiding real estate investors to easily access insurance throughout their customer lifecycle.
Steadily co-founder Datha Santomieri said, “As property investors ourselves, we understand the unique challenges and needs of rental property owners. Our product is built to deliver an exceptional customer experience at every touch point, enabling real estate investors to easily access insurance at all stages of their customer lifecycle. The ongoing support from our investors enables Steadily to continue scaling quickly to meet the growing demand of our product with investors nationwide.”
Steadily has been gaining traction in the real estate investor space as an easy, intuitive direct-to-consumer insurance provider. The company has also integrated its product into the broader real estate ecosystem, offering embedded insurance solutions for independent agents, property management systems, lender software, and more. Steadily’s meticulously designed mobile-first experience saves the user time and hassle by pre-filling many data points such as property size and year of construction. Users can obtain an insurance estimate online within minutes and communicate with a team of specialized insurance agents via phone, email, or SMS.
Dave Eisenberg, co-founder and managing partner at Zigg Capital, shared, “Zigg looks to invest in companies that have the potential to dramatically improve the existing experience for clients. Clients are demanding a more modern experience from their insurers and Steadily has proven itself a standout leader in this space. The team is fulfilling an unmet need in a growing market and continuing to better itself over time with a clear focus on user experience at every touch point.”
The new funding will help Steadily expand its mobile-first experience with new technologies, such as embedded IoT devices. These applications will help reduce the volume and severity of future claims, provide peace of mind to landlords, and ultimately lower the cost of insurance for customers.
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