What is Sproutt?
Founded in 2018, Sproutt operates as a technology-first life insurance company that utilizes advanced analytics to assess risk and provide personalized coverage solutions. Headquartered in Hartford, Connecticut—a historic hub for the insurance industry—the company bridges the gap between legacy insurance practices and modern consumer expectations. By integrating behavioral data with sophisticated algorithms, Sproutt offers a more transparent and efficient experience for policyholders, effectively disrupting the conventional brokerage model. Its market position is defined by its ability to harmonize deep actuarial expertise with a seamless, user-centric digital interface, catering to a demographic that increasingly demands speed and precision in financial services.
How much funding has Sproutt raised?
Sproutt has raised a total of $38M across 2 funding rounds:
Series A
$12M
Series B
$26M
Series A (2019): $12M with participation from State of Mind Ventures, Moneta Capital, and Guardian Life
Series B (2021): $26M led by Raptor, MoreTech Ventures, Falcon Edge Capital, and Harel Insurance Investments & Financial Services
Key Investors in Sproutt
Raptor
Raptor is an investment firm that backs founders across venture capital, growth equity and public markets, building long-term partnerships with companies shaping technology and media.
Falcon Edge Capital
Falcon Edge Capital is a diversified global alternative asset manager founded in 2012 with a strong presence in New York and London.
Harel Insurance Investments & Financial Services
Harel Insurance Investments & Financial Services is one of Israel's largest insurance and finance groups, providing comprehensive solutions across life, health, and pension sectors.
What's next for Sproutt?
With the infusion of $26M, Sproutt is well-positioned to accelerate its product roadmap and expand its footprint in the North American market. The strategic focus will likely shift toward enhancing its proprietary underwriting engine and scaling its distribution channels to reach a broader consumer base. As the company matures, the emphasis will remain on maintaining high-quality risk assessment while reducing the friction typically associated with life insurance procurement. Future growth will be contingent upon the firm's ability to maintain its technological edge while navigating the complex regulatory landscape of the insurance sector, ultimately aiming to redefine the standard for digital-first life insurance providers.
See full Sproutt company page
