Shearman-Led Insurance Startup Raises $250M In Funding

Law360 (September 23, 2020, 2:49 PM EDT) — Small business and self-employment insurer Next Insurance said Wednesday it raised $250 million in a Shearman & Sterling LLP-guided funding round that was led by Alphabet’s private equity arm CapitalG.

Palo Alto, Calif.-based Next Insurance Inc. said in a statement that the proceeds from its Series D round mean it has now raised $631 million. The company provides a range of insurance products, in particular for small businesses and self-employed individuals such as general contractors and photographers.

A spokesperson for Next Insurance said the funding would be used for things such as continuing to grow the business, expanding its product line…

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