Urban Jungle is a London, UK-based insurance technology startup that provides home insurance to renters and homeowners. Founded in 2017 by Jimmy Williams and Greg Smyth, the company uses technology, including AI and machine learning, to catch fraud and offer a 100% online service. The startup has 70 UK staff in England and has served over 200,000 customers. Urban Jungle raised $14M in funding in this round, bringing total capital raised to $55M. Backers included Intact Ventures, Ingka Investments, Mundi Ventures, Eka Ventures, Sony Innovation Fund, and angel investors including former Prudential UK CEO Rob Devey. The company intends to use the funds to continue to scale its UK home insurance business, add new verticals, and continue to hire. Urban Jungle is a London insurtech that provides 100% online home insurance for renters and homeowners, leveraging AI and machine learning to detect fraud and keep premiums affordable. Founded by CEO Jimmy Williams and former Google developer Greg Smyth, the company emphasizes fairness and transparency in insurance. It recently reached 100,000 customers in the U.K. and plans to use new funding to rapidly scale its U.K. business and enter additional markets. The business will also create 100 new jobs in the U.K. as part of its expansion. Financially, Urban Jungle has raised a total of £32 million to date, including a £16.5 million Series A and an earlier €9 million round. Urban Jungle is a London-based contents insurance startup and managing general agent that leverages data and machine learning to detect fraud and expand access to insurance for younger demographics. Founded in 2016 by former Google and Facebook developer Greg Smyth and Jimmy Williams, the company offers digital policies for renters, shared housing dwellers, and others often denied traditional coverage. Policies cover phones, bikes, furniture and other belongings against fire, theft and vandalism, storms and flood, accidental damage, tenant liability, household leaks, public liability and alternative accommodation. The firm reports roughly 40,000 customers and a headcount of 30, with customer numbers more than doubling over the pandemic. Urban Jungle says the €9 million raise will be used to continue scaling operations and add new insurance products to its lineup. Urban Jungle targets so-called “generation rent” with contents insurance, gadget insurance and tenant-liability policies, including a contents product focused on house and flat sharers. The startup also offers a pay-as-you-go policy and emphasizes transparent pricing terms. It automates the majority of processes and uses data to customise cover and make pricing fairer, aiming to make buying, managing and claiming insurance cheaper and easier. Co-founder Jimmy Williams says the company is fixing home insurance and addressing outdated pricing and offline sales channels. Urban Jungle reports more than 15,000 customers and growth of over 30% per month. The newly disclosed funding round increases the company's total raised to £3.7 million to date. Urban Jungle builds tech-driven insurtech products to improve the home insurance experience for the UK’s growing population of urban renters and sharers. Co-founded in 2016 by Jimmy Williams and Greg Smyth, the company is based in London. It completed a £1m seed funding round to support product launches and expand distribution relationships. The funds will be used to launch several new products, including one targeted at house and flat shares. Urban Jungle also intends to further build relationships with distribution partners and continue building out services within its tech stack. No operating metrics were disclosed in the article.

Total raised

$50M

Funding rounds

5

Latest round

Equity

Latest activity

Apr 2024