bolttech, a rapidly growing global insurtech company, has successfully closed its Series C funding round, raising $147 million and achieving a valuation of $2.1 billion.

The funding round attracted strategic investments from notable firms, including Sumitomo Corporation, one of Japan's largest trading houses, and Iberis Capital, a prominent private equity and venture capital firm in Portugal.

Rob Schimek, CEO of bolttech, welcomed the new investors, emphasizing the investment as validation of bolttech's unique business approach and commitment to improving the insurance experience for customers globally.

Other notable investors in this funding round include Dragon Fund, Baillie Gifford, and Generali’s Lion River, indicating strong market confidence in bolttech's business model.

Sumitomo Corporation's investment also includes a joint venture with bolttech, aimed at delivering embedded insurance programs and comprehensive services for partners in Asia.

Shinichi Kato, CEO of Sumitomo Corporation's Media & Digital Group, expressed excitement about the partnership and its potential to drive growth and innovation in the Asia region.

Luís Quaresma, a partner at Iberis Capital, praised bolttech's technology, vision, and management team, signaling strong support for the company's future developments.

The new funding will be utilized to enhance bolttech’s platform capabilities and to accelerate its global growth strategy, focusing on making insurance more personalized, accessible, affordable, and convenient for customers.