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