New Enterprise Associates

New Enterprise Associates is a venture capital firm founded in 1977 and based in Menlo Park, California, with offices in the United States, India and China. It makes investments across technology and healthcare startups at multiple stages, from seed to growth, including software, cloud, data, internet services, fintech, AI, e-commerce, and enterprise technology, as well as healthcare information technology, life sciences, medical devices, and biopharma. It also considers energy technology and infrastructure opportunities, such as solar, batteries and smart grids. The firm pursues a global approach, with activity in the United States, Asia and other regions, and supports companies through rounds of financing ranging from small to sizable investments as they scale. NEA focuses on building portfolios in software, IT services, consumer technology, and healthcare technology, backing ambitious entrepreneurs across sectors and geographies.

Michael Albert

Associate

Kate Barrett

Partner, Communications

Ali Behbahani

General Partner

Ann Bordetsky

Partner

James Buxton MD

Principal

Past deals in Insurance

Instabase

Series D in 2025
Instabase, Inc. is a technology company based in San Francisco, California, founded in 2015. It specializes in developing a platform that automates document processing workflows and analyzes unstructured data. The platform integrates various capabilities, including optical character recognition, data classification and extraction, and natural language processing, allowing organizations across sectors such as insurance, finance, and healthcare to streamline operations and improve decision-making. Additionally, Instabase provides a developer kit that enables the creation of customized business applications, helping institutions embed artificial intelligence into their systems and processes. Through its innovative solutions, Instabase aims to address significant business challenges and facilitate transformational outcomes for its clients.

Functional Finance

Seed Round in 2023
Functional Finance is a fintech platform designed to enhance the operational efficiency of the insurance industry. The company provides a comprehensive software solution that enables insurance operators to manage various aspects of money transfer, including billing, invoicing, payment collection, statement generation, and real-time automatic reconciliation for every invoice and policy. This platform allows insurance companies to unify and automate their financial operations and workflows without needing to replace their existing infrastructure.

Instabase

Series C in 2023
Instabase, Inc. is a technology company based in San Francisco, California, founded in 2015. It specializes in developing a platform that automates document processing workflows and analyzes unstructured data. The platform integrates various capabilities, including optical character recognition, data classification and extraction, and natural language processing, allowing organizations across sectors such as insurance, finance, and healthcare to streamline operations and improve decision-making. Additionally, Instabase provides a developer kit that enables the creation of customized business applications, helping institutions embed artificial intelligence into their systems and processes. Through its innovative solutions, Instabase aims to address significant business challenges and facilitate transformational outcomes for its clients.

QuoteWell

Series A in 2022
Founded in 2021, QuoteWell is a digital platform designed for the insurance industry. Based in Austin, Texas, it offers an integrated submission process that securely transmits insured applications to underwriters and enables agents and brokers to access modern risk transfer infrastructure.

Incarey

Series C in 2021
InCarey is a Shanghai-based company founded in 2011 that specializes in developing a comprehensive medical service platform focused on the management of chronic and vertical diseases. The platform integrates medical, pharmaceutical, and insurance resources to provide a one-stop solution for patients requiring long-term care and support. InCarey's cloud-based online platform facilitates professional disease management services, allowing for direct interaction between doctors and patients. Additionally, it includes an e-commerce component that enables users to conveniently access medications for various chronic conditions. The company is dedicated to enhancing the patient experience through innovative payment services and a holistic approach to chronic disease management.

Stride Health

Series C in 2021
Stride Health, Inc. is a health benefits platform that specializes in providing affordable health coverage options for independent workers and part-time employees in the United States. The company offers a range of services, including dental plans, doctor and prescription insurance plans, and various health coverage options tailored to meet the needs of its customers. Stride Health simplifies the enrollment process by guiding users through selecting the most cost-effective health plans, aiming to optimize their tax benefits and enhance their take-home pay. Founded in 2013 and based in San Francisco, California, the company was previously known as Covered, Inc. and rebranded to Stride Health, Inc. in March 2013. Stride Health also provides personal advisory services to assist clients in navigating the complexities of their health insurance options.

Metromile

Post in 2021
Metromile is a digital auto insurance platform that uses data science to offer personalized policies based on actual mileage driven, providing real-time insights and potential savings of up to 47% compared to traditional insurance methods. It offers features such as automated claims processing, smart driving analytics via its mobile app, and theft tracking.

Instabase

Series B in 2019
Instabase, Inc. is a technology company based in San Francisco, California, founded in 2015. It specializes in developing a platform that automates document processing workflows and analyzes unstructured data. The platform integrates various capabilities, including optical character recognition, data classification and extraction, and natural language processing, allowing organizations across sectors such as insurance, finance, and healthcare to streamline operations and improve decision-making. Additionally, Instabase provides a developer kit that enables the creation of customized business applications, helping institutions embed artificial intelligence into their systems and processes. Through its innovative solutions, Instabase aims to address significant business challenges and facilitate transformational outcomes for its clients.

Metromile

Series E in 2018
Metromile is a digital auto insurance platform that uses data science to offer personalized policies based on actual mileage driven, providing real-time insights and potential savings of up to 47% compared to traditional insurance methods. It offers features such as automated claims processing, smart driving analytics via its mobile app, and theft tracking.

Stride Health

Series B in 2017
Stride Health, Inc. is a health benefits platform that specializes in providing affordable health coverage options for independent workers and part-time employees in the United States. The company offers a range of services, including dental plans, doctor and prescription insurance plans, and various health coverage options tailored to meet the needs of its customers. Stride Health simplifies the enrollment process by guiding users through selecting the most cost-effective health plans, aiming to optimize their tax benefits and enhance their take-home pay. Founded in 2013 and based in San Francisco, California, the company was previously known as Covered, Inc. and rebranded to Stride Health, Inc. in March 2013. Stride Health also provides personal advisory services to assist clients in navigating the complexities of their health insurance options.

Instabase

Series A in 2017
Instabase, Inc. is a technology company based in San Francisco, California, founded in 2015. It specializes in developing a platform that automates document processing workflows and analyzes unstructured data. The platform integrates various capabilities, including optical character recognition, data classification and extraction, and natural language processing, allowing organizations across sectors such as insurance, finance, and healthcare to streamline operations and improve decision-making. Additionally, Instabase provides a developer kit that enables the creation of customized business applications, helping institutions embed artificial intelligence into their systems and processes. Through its innovative solutions, Instabase aims to address significant business challenges and facilitate transformational outcomes for its clients.

Indio Technologies

Pre Seed Round in 2016
Indio Technologies, Inc. is a cloud-based software company that streamlines the insurance application and renewal process for brokers and their clients. Founded in 2015 and based in San Francisco, California, the company offers a platform that features a library of over 5,000 digitally enhanced insurance forms, an e-signature solution, and secure document sharing capabilities. This technology allows brokers to quickly create insurer-ready online applications and convert existing data from Excel into interactive workbooks. By providing real-time alerts when clients engage with the platform, Indio Technologies enhances the efficiency of the insurance process, enabling brokers to focus on growing their business while reducing time spent on operational tasks. The company serves a diverse range of brokers, helping them cater to more than 300,000 business clients while ensuring a seamless and efficient experience. Indio Technologies operates as a subsidiary of Applied Systems, Inc. since early 2020.

Cyence

Series A in 2016
Cyence Inc. is a technology company based in San Mateo, California, specializing in economic modeling of cyber risk for the global insurance industry. Founded in 2014, Cyence has developed a sophisticated analytics platform that quantifies the financial impact of cyber risk in both probabilities and monetary terms. This platform assists insurance professionals in various aspects of risk management, including prospecting and selecting risks, assessing and pricing those risks, and managing risk portfolios and accumulations. By leveraging large-scale data collection, machine learning, and advanced economic modeling, Cyence enables insurers to effectively navigate the complexities of cyber risk and innovate new insurance products. As of November 2017, Cyence operates as a subsidiary of Guidewire Software, Inc.

Metromile

Series D in 2016
Metromile is a digital auto insurance platform that uses data science to offer personalized policies based on actual mileage driven, providing real-time insights and potential savings of up to 47% compared to traditional insurance methods. It offers features such as automated claims processing, smart driving analytics via its mobile app, and theft tracking.

Uptake

Series B in 2015
Uptake Technologies, Inc. is a technology company that specializes in developing a predictive analytics platform designed to enhance operational efficiency across various industries, including healthcare, insurance, locomotives, construction, and manufacturing. Founded in 2014 and headquartered in Chicago, Illinois, Uptake's platform analyzes sensor data to predict and prevent equipment failures, identify hidden profit opportunities, and uncover new growth avenues. By transforming data into actionable insights, the platform facilitates equipment monitoring, diagnostic troubleshooting, event and condition prediction, and task management, ultimately improving uptime and streamlining operations for its clients.

Instabase

Seed Round in 2015
Instabase, Inc. is a technology company based in San Francisco, California, founded in 2015. It specializes in developing a platform that automates document processing workflows and analyzes unstructured data. The platform integrates various capabilities, including optical character recognition, data classification and extraction, and natural language processing, allowing organizations across sectors such as insurance, finance, and healthcare to streamline operations and improve decision-making. Additionally, Instabase provides a developer kit that enables the creation of customized business applications, helping institutions embed artificial intelligence into their systems and processes. Through its innovative solutions, Instabase aims to address significant business challenges and facilitate transformational outcomes for its clients.

Stride Health

Series A in 2015
Stride Health, Inc. is a health benefits platform that specializes in providing affordable health coverage options for independent workers and part-time employees in the United States. The company offers a range of services, including dental plans, doctor and prescription insurance plans, and various health coverage options tailored to meet the needs of its customers. Stride Health simplifies the enrollment process by guiding users through selecting the most cost-effective health plans, aiming to optimize their tax benefits and enhance their take-home pay. Founded in 2013 and based in San Francisco, California, the company was previously known as Covered, Inc. and rebranded to Stride Health, Inc. in March 2013. Stride Health also provides personal advisory services to assist clients in navigating the complexities of their health insurance options.

Stride Health

Seed Round in 2015
Stride Health, Inc. is a health benefits platform that specializes in providing affordable health coverage options for independent workers and part-time employees in the United States. The company offers a range of services, including dental plans, doctor and prescription insurance plans, and various health coverage options tailored to meet the needs of its customers. Stride Health simplifies the enrollment process by guiding users through selecting the most cost-effective health plans, aiming to optimize their tax benefits and enhance their take-home pay. Founded in 2013 and based in San Francisco, California, the company was previously known as Covered, Inc. and rebranded to Stride Health, Inc. in March 2013. Stride Health also provides personal advisory services to assist clients in navigating the complexities of their health insurance options.

Pinetree

Series A in 2014
Pinetree is a Beijing-based company that specializes in providing professional home care services for senior citizens in China. Founded in 2004, Pinetree offers a range of services, including home care, wellness, and insurance, tailored to meet the diverse needs of seniors at various stages of life and with different health conditions. The company's mission is to enhance the physical and mental well-being of elderly individuals, promoting their confidence and ability to live independently while also helping to reduce medical care expenses. Pinetree collaborates with commercial partners to deliver integrated and restorative care, effectively bridging the gap between hospitals, community health centers, and the homes of patients and their families.

Hearsay Systems

Series C in 2013
Hearsay Systems, Inc. is a technology company that specializes in digital communication solutions for the financial services industry. Founded in 2009 and headquartered in San Francisco, California, with additional offices in cities such as New York and London, the company develops a client engagement platform aimed at assisting financial advisors in enhancing their business relationships. Hearsay's offerings include Hearsay Social, which automates social selling; Hearsay Sites for local website management; Hearsay Relate for SMS supervision; and the Hearsay Platform that connects various advisor engagement tools. The platform processes and prioritizes data from multiple digital channels, providing actionable insights that guide advisors in client interactions. Hearsay Systems serves a diverse range of sectors, including asset management, insurance, and wealth management, and also offers training, support, and compliance advisory services to its clients.

Metromile

Series B in 2013
Metromile is a digital auto insurance platform that uses data science to offer personalized policies based on actual mileage driven, providing real-time insights and potential savings of up to 47% compared to traditional insurance methods. It offers features such as automated claims processing, smart driving analytics via its mobile app, and theft tracking.

Bravo Health

Series A in 2012
Bravo Health, Inc. is a managed care organization that specializes in providing Medicare Advantage options, catering specifically to Medicare beneficiaries, including those who are dually eligible for Medicare and Medicaid. The company offers a range of plans, including special needs plans for individuals receiving institutional care or those with chronic health conditions, as well as private fee-for-service plans that allow members to choose their healthcare providers. Additionally, Bravo Health provides Part D prescription drug plans to cover medication needs. The company operates in multiple states, including Delaware, Maryland, Pennsylvania, Texas, and Washington, and has expanded its services to offer prescription drug coverage in 43 states. Founded in 1996 and headquartered in Baltimore, Maryland, Bravo Health was previously known as Elder Health, Inc.

The Climate Corporation (Bayer Crop Science)

Series C in 2012
The Climate Corporation focuses on supporting farmers globally by providing advanced software, hardware, and insurance products designed to enhance agricultural operations. The company utilizes its proprietary Climate Technology Platform, which integrates hyper-local weather monitoring, agronomic modeling, and high-resolution weather simulations. This platform powers its mobile software-as-a-service solutions, Climate Basic and Climate Pro, which assist farmers in making informed decisions to increase profitability. In addition to these technological offerings, The Climate Corporation also provides insurance products to safeguard agriculture businesses against the financial impacts of adverse weather conditions.

Hearsay Systems

Series B in 2011
Hearsay Systems, Inc. is a technology company that specializes in digital communication solutions for the financial services industry. Founded in 2009 and headquartered in San Francisco, California, with additional offices in cities such as New York and London, the company develops a client engagement platform aimed at assisting financial advisors in enhancing their business relationships. Hearsay's offerings include Hearsay Social, which automates social selling; Hearsay Sites for local website management; Hearsay Relate for SMS supervision; and the Hearsay Platform that connects various advisor engagement tools. The platform processes and prioritizes data from multiple digital channels, providing actionable insights that guide advisors in client interactions. Hearsay Systems serves a diverse range of sectors, including asset management, insurance, and wealth management, and also offers training, support, and compliance advisory services to its clients.

Metromile

Series A in 2011
Metromile is a digital auto insurance platform that uses data science to offer personalized policies based on actual mileage driven, providing real-time insights and potential savings of up to 47% compared to traditional insurance methods. It offers features such as automated claims processing, smart driving analytics via its mobile app, and theft tracking.

The Climate Corporation (Bayer Crop Science)

Series B in 2011
The Climate Corporation focuses on supporting farmers globally by providing advanced software, hardware, and insurance products designed to enhance agricultural operations. The company utilizes its proprietary Climate Technology Platform, which integrates hyper-local weather monitoring, agronomic modeling, and high-resolution weather simulations. This platform powers its mobile software-as-a-service solutions, Climate Basic and Climate Pro, which assist farmers in making informed decisions to increase profitability. In addition to these technological offerings, The Climate Corporation also provides insurance products to safeguard agriculture businesses against the financial impacts of adverse weather conditions.

The Climate Corporation (Bayer Crop Science)

Series A in 2007
The Climate Corporation focuses on supporting farmers globally by providing advanced software, hardware, and insurance products designed to enhance agricultural operations. The company utilizes its proprietary Climate Technology Platform, which integrates hyper-local weather monitoring, agronomic modeling, and high-resolution weather simulations. This platform powers its mobile software-as-a-service solutions, Climate Basic and Climate Pro, which assist farmers in making informed decisions to increase profitability. In addition to these technological offerings, The Climate Corporation also provides insurance products to safeguard agriculture businesses against the financial impacts of adverse weather conditions.

Long Term Care Group

Venture Round in 1996
Long Term Care Group is a prominent provider of business process outsourcing services specifically tailored for the long-term care insurance industry. The company supports over 50 insurers, including all of the top 10 carriers in this sector, by offering comprehensive administrative services such as application processing, underwriting, policy administration, and claims and care management. Additionally, LTCG delivers health and functional assessments, along with consulting services to help clients navigate their complex long-term care portfolios. With access to the industry's largest database of long-term care underwriting and claims, LTCG provides valuable insights into risk management, enabling its clients to enhance their financial performance effectively.

eBenX

Venture Round in 1996
eBenX is a provider of business-to-business e-commerce solutions focused on the group health insurance market. The company offers specialized technology-based services designed for employers, brokers, employee benefit advisors, and health plans. Through its proprietary and licensed technology, eBenX facilitates the purchase, eligibility administration, and premium payment of group health benefits. Additionally, the company streamlines the flow of eligibility and financial data between employers and health plans, enhancing efficiency in the management of health and welfare benefits.
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