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We are a venture capital platform created in partnership with Prudential Financial to invest in transformational startups in FinTech, InsurTech, HealthTech, Real Estate, and Enterprise IT. Our multi-stage approach enables us to support leading entrepreneurs from garage to IPO.

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Portfolio News

Embed Clearing is acquired by FTX US

Congratulations to our portfolio company Embed Clearing on their recently announced acquisition by FTX US!

The acquisition signals FTX's intention to expand the financial services it offers to US customers, and will enable it to route, execute, clear, and custody all customer equities and options accounts and trades through use of Embed's infrastructure and licensure. In addition, Embed and FTX US share a common goal to provide whitelabel brokerage services to other businesses, applications, and customers.

We're extremely excited for Michael and the entire Embed team as they continue to build best-in-class clearing and custody solutions for equity trading under the FTX umbrella.

Read more about it here.

Portfolio News

Newfront Announces $200M Series D at a $2.2Bn Valuation

Congratulations to Newfront for raising $200M!

Newfront, “the modern insurance brokerage platform,” announced a $200 million investment at a $2.2 billion valuation led by the Growth Equity business within Goldman Sachs Asset Management and B Capital. Additional investors in the round include Founders Fund, Meritech Capital, Y Combinator, Index Ventures, Bloomberg Beta, XYZ, Susa Ventures, PruVen Capital, Propel, Vetamer Capital, Altai , Tony Xu CEO of Doordash, and others.

Founded in 2017, the San Francisco-based company provides business insurance and employee benefits, and it also has a private client offering. Last year Newfront announced an agreement to merge with ABD Insurance and Financial Services, which offers risk management, insurance brokerage, human resources, and retirement solutions. The combined company serves over 10,000 clients and place $2Bn+ in premiums annually.

Read more about it here.

Portfolio News

Cowbell Cyber Raises $100M to Continue Expansion into SME Market

With increasing occurrences of cyber crime globally, PruVen is proud to announce our latest investment in Cowbell Cyber, a cyber insurer offering standalone, admitted, individualized, and easy-to-understand cyber insurance to small and mid-size enterprises.

Cowbell plans to use this funding to continue scaling the companies' growth after a 40x increase in premiums over the past year, including investing in its data science and risk engineering, as well as underwriting tech, claims management, reinsurance and expanding its go-to-market channels.

Read more about it here.

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