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FT Partners Advises Newfront on its $200,000,000 Financing

Overview of Transaction

  • On April 12, 2022, Newfront announced that it had closed on $200 million in funding at a $2.2 billion valuation led by Goldman Sachs Asset Management and B Capital
  • Additional participation in the round came from existing investors Founders Fund, Meritech Capital, Y Combinator, Index Ventures, XYZ, Susa Ventures, Bloomberg Beta, PruVen Capital, Propel, Altai, and new investors including Tony Xu CEO of Doordash and Vetamer
  • Newfront is transforming the delivery of risk management, employee experience, insurance, and retirement solutions by building the modern insurance platform
  • Transparent data delivered in real-time translates into a lower total cost of risk and greater insights

Significance of Transaction

  • Newfront plans to grow its technology teams and focus in particular on harnessing data-driven insights for clients
  • The Company also plans to invest in specialized client resources and experts across a wide variety of industries and expand across the US
  • With this new round of funding, Newfront will also begin to explore building bespoke insurance products to meet the needs of its clients

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to Newfront
  • This transaction highlights FT Partners’ industry-leading expertise within InsurTech, as well as its successful track record of generating highly favorable outcomes for high-growth FinTech companies globally