What is Pier?
Pier is an insurance company founded by Igor, Lucas, and Rafael, designed to simplify the claims process for individuals experiencing difficult moments such as theft. The company distinguishes itself through its commitment to fast payouts and empathetic customer support, offering a human-centric and straightforward approach to insurance. By eliminating complex paperwork and lengthy waiting periods, Pier aims to provide a seamless and supportive experience for its policyholders, positioning itself as a modern alternative in the traditional insurance landscape.
How much funding has Pier raised?
Pier has raised a total of $42.1M across 3 funding rounds:
Other Financing Round
$7.6M
Series A
$14.5M
Unspecified
$20M
Other Financing Round (2019): $7.6M, investors not publicly disclosed
Series A (2020): $14.5M led by Canary, Monashees, BTG Pactual S.A, and Mercado Livre
Unspecified (2021): $20M supported by Raiz Investimentos
Key Investors in Pier
Raiz Investimentos
Raiz Investimentos is an entity that participated in Pier's funding round. Further details on their investment focus are not publicly available.
Monashees
Monashees is a venture capital firm with a strong focus on the Brazilian tech ecosystem, known for backing innovative, high-growth internet and education companies. Their investment in Pier suggests a belief in the company's disruptive potential within the insurtech space.
Canary
Canary is an investor that has backed Pier. While specific details about Canary's investment thesis are not provided, their participation indicates a strategic interest in the company's growth and market strategy.
What's next for Pier?
With the recent major strategic investment and a substantial overall funding history, Pier is poised for significant scaling and innovation. The capital is likely to be deployed towards enhancing its technological infrastructure, expanding its service offerings, and potentially entering new markets. Further strategic partnerships and product development can be anticipated as the company leverages this financial backing to solidify its position and disrupt the insurance industry with its user-friendly and empathetic model.
See full Pier company page
