Participated · Series C · Apr 2025

Steadily is a landlord insurance provider serving real estate investors, headquartered in Austin, TX and Overland Park, KS. Its core offerings include Steadily Insurance Company (an A-rated carrier), five MGA programs, and a large insurance agency that underwrites and distributes policies. The company serves policyholders in all fifty states and reports over $250M in annualized gross written premium. Led by co-founder and CEO Darren Nix, Steadily plans to use the new capital to expand operations and its development efforts. The company was valued at $335M in the latest round and has raised $89.5M in total funding to date. Steadily's previous financing included a $28.5M Series B in 2023. Steadily is an Austin, TX and Overland Park, KS-based landlord insurance company that built a mobile-first digital platform to provide landlords with insurance quotes online in minutes, 24/7, across all 50 states. Founded by Darren Nix, Datha Santomieri, and David Tulig, the company began as a retail agency working with carriers and wholesalers to offer competitive rates and coverages for rental properties. Steadily reports increased binding authority with existing carriers and has expanded operations to include program administrator capabilities. The platform serves the 18 million individual rental property owners who collectively own the majority of single-family and small multi-family rentals across the U.S. The company plans to use the new funding to expand its mobile-first experience and deploy embedded IoT devices aimed at preventing property damage and to meet growing nationwide demand. Steadily offers landlord insurance products with a digital, self-serve experience aimed at individual rental property owners. The company serves the estimated 17 million individual rental property owners who own the majority of single-family and small apartment rentals across the U.S., supporting single-family rentals, fix-and-flips, short-term rentals, and other property types. Steadily began as a retail agency working with carriers and wholesalers nationwide and now holds binding authority with existing carriers while also providing program administrator capabilities. The product emphasizes modern tech integrations and an improved customer experience to address historically outdated insurance processes. In its latest financing Steadily raised $27.2M, bringing total funding to $31M, and plans to use the capital to scale operations and meet growing consumer demand. Founders and investors characterize the business as a tech-first, customer-centric entrant that aims to modernize insurance for landlords. Steadily offers mobile-first, direct-to-consumer landlord insurance that lets property owners get quotes and buy policies through a streamlined app. The product pre-fills property data, delivers competitive quotes in minutes, verifies post-bind property conditions (for example fire mitigation), and lets landlords order items like fire extinguishers. Steadily is building non-invasive IoT sensors (for example washing-machine leak sensors) and advanced data analytics to detect issues early, reduce claim volume and severity, and ultimately lower premiums. The company has secured multiple carrier partnerships to underwrite policies while it remakes front- and back-end processes to improve acquisition and claims handling. Steadily is positioning itself to address an underserved market estimated at roughly $38 billion in annual premiums across 48 million rental units. The company is based in Austin, Texas and recently raised seed funding to accelerate product development and deploy its IoT and analytics capabilities.

Participated · Series B · Nov 2019

Cover Genius operates an embedded protection platform that connects 200+ partners with 50+ global insurance carriers to protect customers at the point of sale across travel, retail, ticketing, and logistics. The company dynamically adapts product design, pricing, and presentation in real time to match merchants’ customer journeys and geographic mixes. In 2025 it reported 50% year-over-year revenue growth, surpassed $3 billion in cumulative gross written sales, and extended its reach to 240 million policies; it also protects over 70 million end customers through integrations with platforms such as Klarna, Revolut, Booking.com, Amazon, eBay, Wayfair, and Uber. Cover Genius operates XCover, its claims management platform, which has an “Excellent” 4.5/5 rating on Trustpilot from 70,000+ verified consumer reviews. The company plans to invest its new capital in enhanced integrations, AI-driven personalization and distribution, automated claims infrastructure, platform scalability, and selective acquisitions to enter new verticals.

Participated · Series C · Sep 2014

IEX is a stock exchange. The company was reported to have received an investment from crypto firm FTX. The size of FTX’s investment was not revealed, though an FTX spokesperson said it will become a “significant” shareholder in IEX. The reported purpose of the stake is to help strengthen crypto markets. The article did not report any operating metrics (revenue or users) or other financial details. No additional investors or terms were disclosed in the coverage. IEX is an equity trading venue that builds a fair-access marketplace for institutional investors, using a proprietary anti-colocation architecture and simplified pricing and rule set. The platform was seeded by a consortium of buy-side investors, including mutual funds, hedge funds, and family offices, and is designed to prioritize investor protection. IEX operates a fair-access platform for any qualified broker-dealer and emphasizes fairness for traditional investors and issuer companies. The company has seen rapid growth: since Q1 2014 it has tripled daily trading volume and recently exceeded 100 million shares per day in participant volume. IEX plans to use new financing to pursue registration as a U.S. national exchange and to explore other opportunities to leverage its brand and market position. IEX was featured in Michael Lewis's book Flash Boys.