Munich Re/HSB Ventures has led a round that included Markel and Nationwide, and which boosted the business insurance startup's total funding to $42m.
Munich Re/HSB Ventures, the corporate venturing arm of reinsurance firm Munich Re, has led a $29m series A round for US-based business-to-business insurance provider Next Insurance.
Insurance groups Markel and Nationwide Mutual Insurance Company also contributed to the round, as did undisclosed existing investors.
Founded in 2016, Next provides tailored insurance policies for small to medium-sized businesses through an online platform.
The company will use the funding to expand into new business areas beyond the photographers and personal trainers it…
