BrokerTech Ventures (BTV), a pioneering broker-centric accelerator program in the InsurTech industry, can reveal that the collective valuation of its startups is now approaching $1bn.
The Iowa-based firm has become a driving force for emerging insurtech companies, consistently propelling them to new heights. At the top of this list of achievements is their remarkable success rate. 96% (46/48) of all startups that have participated in the BTW accelerator are still operating, or have been successfully acquired.
These eye-catching figures only serve to reaffirm the programme’s position as a catalyst for sustainable growth within the industry, with the collective valuation of these four cohorts now rapidly approaching the much-vaunted $1bn mark.
These startups have even managed to rake in over $250m in funding since their participation in the accelerator, which is only continuing the exponential growth that these startups have experienced since entering the accelerator. In fact, on average, startups that have gone through the BTV accelerator program have witnessed their valuations double since their enrolment.
Dan Keough, Holmes Murphy Chairman and CEO and BTV Co-CEO, said, “We are immensely proud of our startups’ achievements and of the continued growth of the InsurTech sector as a whole. These outstanding outcomes validate the effectiveness of our accelerator program and underscore the vital role that InsurTech startups play in driving innovation within the insurance industry, while also working to identify risks sooner and drive down costs faster for our clients.”
“BTV’s commitment to fostering innovation and collaboration in the insurance technology space has solidified its reputation as a leading force in the insurtech ecosystem,” said Mike Victorson, M3 Insurance President and CEO and BTV Co-CEO. “We are proud of our efforts and can’t wait to see how the future continues to unfold.”
Applications for the 2024 BrokerTech Ventures accelerator cohort open on November 1, 2023.
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