Steadily, a U.S. provider of landlord insurance, has successfully raised $30 million in Series C funding. This round was led by Two Sigma Ventures and values the company at $355 million. Founded in 2020 and based in Austin, Texas, Steadily caters to around 18 million individual rental property owners, who together own a significant portion of single-family rentals across the country.
The latest investment brings Steadily’s total funding to $89.5 million, following a $28.5 million Series B round earlier this year. Alongside Two Sigma Ventures, other investors in this round included Zigg Capital, Clocktower Technology Ventures, Belfer Investment Partners, Nine Four Ventures, and Matrix Partners.
Steadily has made a name for itself by offering innovative insurance solutions. The company has reported over $250 million in annualized gross written premium, showcasing its rapid growth in the insurance market. A key factor in this growth is Steadily’s partnerships with over 400 proptech companies, such as Roofstock and TurboTenant. These integrations allow users to automatically receive estimated insurance costs for properties with minimal effort.
The company serves customers in all fifty states and offers various programs, including the Steadily Insurance Company, which is rated A, as well as multiple managing general agent (MGA) programs and a large insurance agency. With this new funding, Steadily aims to expand its offerings and continue its impressive growth trajectory in the insurtech space.