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XI

XL Innovate

Venture CapitalActive

XL Innovate is a leading global insurtech venture capital firm.

Menlo Park, United StatesFounded 2015
17
Investments
4
Exits
$500M
AUM
23.5%
Exit Rate

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Investment Thesis & Strategy

XL Innovate invests in various stages of insurtech companies globally, with a focus on commercial insurance, property insurance, and risk management. They seek to invest in leading insurtech companies.

Investment Activity

Deals per year over the last 4 years

4
2016
4
2017
2
2018
2
2019

Portfolio Companies

Selected investments from their portfolio of 17 companies

C
Claimatic
Fintech · Series A, 2019
Active
O
Openly
Fintech · Series A, 2019
Active
B
Brokerage
Fintech · Series A, 2018
Active
G
Gradient AI
AI/ML · Series A, 2018
Active
C
Clearcover
Fintech · Series A, 2017
Active
B
Bought By Many
Fintech · Series A, 2017
Active
N
Next Insurance
Fintech · Series B, 2017
Active
P
Pie Insurance
Fintech · Series A, 2017
Active
T
Trov
Fintech · Series A, 2016
Active
C
Cape Analytics
AI/ML · Series A, 2016
Active
B
Bind Benefits
Healthcare · Series A, 2016
Active
C
CoverWallet
Fintech · Series A, 2016
Active

Notable Exits

CompanyTypeYearValue / Acquirer
ClearcoverAcquisition2024—
OpenlyAcquisition2024—
Next InsuranceIPO2024—
HippoIPO2021$5B

Frequently Asked Questions

XL Innovate focuses on Series A, Series B, Series C+ stage investments.

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