Obie provides API-first embedded insurance distribution and instantly bindable landlord insurance quotes for residential real estate investors. Its instant-quote process leverages data enrichment and proprietary algorithms analyzing over 1,000 data points to enable faster, more accurate underwriting. The company partners with proptech and fintech platforms to integrate insurance directly into partner workflows and meet specific insurance requirements. Obie has secured over $20 billion in total coverage and more than 75 embedded partners, including Baselane, Awning, and Marketplace Homes. The company reports 300% growth over the past two years and sees opportunity across an estimated 18 million U.S. real estate investors. Obie plans to expand partnerships across industries and offer additional insurance products to clients. Obie targets small-to-medium apartment landlords and single-family rental owners with a platform that produces near-instant insurance quotes (about three to five minutes) and immediate underwriting. The product combines landlord-provided answers with public and private data — including proximity to the property — and a proprietary algorithm that matches applications to carriers by risk-appetite. The company says it saves policyholders roughly 25–30% on premiums (reporting an average beat of 31.7%) and has secured insurance for over $3 billion worth of property. Obie grew premiums from about $1 million in its first 12 months to roughly $10 million in the most recent 12-month period. The business has expanded its property and casualty insurance offering to all 50 states. Founded and run by brothers Aaron and Ryan Letzeiser, the team combines insurance and real estate private equity experience and is Chicago-based and a Y Combinator alum. Obie is moving from an agency model toward launching its own product (slated for rollout at the end of Q2) with a large insurer backing it and plans to become a carrier over time. Obie is a Chicago-based proptech and insurtech startup, established in 2017, that offers a free cloud-based insurance and portfolio management platform for small-to-medium commercial real estate funds and managers. The platform consolidates all asset information and lets owners invite and collaborate with stakeholders such as property managers, leasing brokers, and LPs. Because the core platform is free, Obie plans to monetize by selling auxiliary products, beginning with commercial property insurance. The company operates a P&C insurance program for entities with $500k to $10 billion in assets under management and says customers save 15% or more on premiums, often securing coverage within 72 hours. Obie announced it has raised $2.8 million as it officially launched its platform. The company was founded by brothers Ryan and Aaron Letzeiser; Ryan Letzeiser is CEO and cites his prior real estate private equity experience as inspiration for the product.

Total raised

$39M

Funding rounds

3

Latest round

Series B

Latest activity

May 2023