Next Insurance, a leading digital insurtech company transforming small business insurance, has raised $250 million in Series D financing led by CapitalG, Alphabet's independent growth fund, with participation from FinTLV, a global leading insurtech VC, and existing investor Munich RE Group. CapitalG Partner Sumiran Das will join the Next Insurance Board of Directors.

Next Insurance is transforming small business insurance with simple, digital and affordable coverage tailored to the self-employed. Next Insurance offers policies that are easy to buy in 10 minutes or less and provides 24/7 access to services such as Live Certificates of Insurance, Additional Insured, and more, with no extra fees. Revolutionizing a historically complicated insurance industry, Next Insurance utilizes AI and machine learning to simplify the purchasing process and drive down costs by up to 30% compared to traditional policies. Founded in 2016, the company is headquartered in Palo Alto, has received a total of $631 million in venture capital funding and has been recognized by Forbes Fintech 50, JMP Securities InsurTech 50 and Forbes Best StartUp Employers.