July 01, 2021
bolttech, one of the fastest growing international insurtech companies, has announced the completion of an oversubscribed US$180 million series A funding round led by Activant Capital Group (Activant), joined by investors including Tony Fadell – Principal at Future Shape, Alpha Leonis Partners, Dowling Capital Partners, B. Riley Venture Capital, and Tarsadia Investments. The investment round is the largest series A round for an insurtech and values bolttech at more than US$1 billion, giving the insurtech unicorn status only one year after its launch in 2020.
Latham & Watkins LLP represented Activant Capital Group, the lead investor, in the financing with a corporate deal team led by New York partners Stelios Saffos and Jane Greyf, with associates Teddy Ellison, Michelle Aizin, and Tyler Prime. Advice was also provided on tax matters by New York partner Jocelyn Noll; on capital markets matters by New York/Los Angeles associate Brittany Ruiz; on benefits and compensation matters by New York partner Austin Ozawa, with associate Alisa Hand; on intellectual property matters by New York partner Steven Betensky; and on data privacy matters by Bay Area counsel Robert Blamires, with associate Adriana Beach.