About Honey Insurance
Honey Insurance is a company based in Surry Hills (Australia) founded in 2016 by Richard Joffe.. Honey Insurance has raised $119.93 million across 2 funding rounds from investors including AGL Energy, PEXA and Mirvac. Honey Insurance offers products and services including Smart Home Insurance and Home Sensors.
- Headquarter Surry Hills, Australia
- Founders Richard Joffe
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$119.93 M (USD)
in 2 rounds
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Latest Funding Round
$108 M (USD), Series A
Apr 09, 2024
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Investors
AGL Energy
& 15 more
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Employee Count
Employee Count
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Products & Services of Honey Insurance
Honey Insurance offers a comprehensive portfolio of products and services, including Smart Home Insurance and Home Sensors. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Offers coverage with sensors to detect and prevent home accidents.
Devices that alert users to risks like fire, theft, and water damage.
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Funding Insights of Honey Insurance
Honey Insurance has successfully raised a total of $119.93M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $108 million completed in April 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $108.0M
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First Round
First Round
(16 Jun 2021)
- Investors Count 16
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2024 | Amount | Series A - Honey Insurance | Valuation | Gallatin Point Capital |
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| Jun, 2021 | Amount | Seed - Honey Insurance | Valuation | RACQ , PEXA |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Honey Insurance
Honey Insurance has secured backing from 16 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include AGL Energy, PEXA and Mirvac. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Private equity investments are directed toward financial institutions and services.
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Founded Year | Domain | Location | |
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Apex Capital is focused on providing growth capital to fintech founders.
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Founded Year | Domain | Location | |
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Provides membership-based roadside assistance, insurance, banking, and travel support.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Honey Insurance
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Honey Insurance
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Honey Insurance Comparisons
Competitors of Honey Insurance
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Honey Insurance
Frequently Asked Questions about Honey Insurance
When was Honey Insurance founded?
Honey Insurance was founded in 2016 and raised its 1st funding round 5 years after it was founded.
Where is Honey Insurance located?
Honey Insurance is headquartered in Surry Hills, Australia. It is registered at Surry Hills, New South Wales, Australia.
Who is the current CEO of Honey Insurance?
Richard Joffe is the current CEO of Honey Insurance. They have also founded this company.
Is Honey Insurance a funded company?
Honey Insurance is a funded company, having raised a total of $119.93M across 2 funding rounds to date. The company's 1st funding round was a Seed of $11.93M, raised on Jun 16, 2021.
What does Honey Insurance do?
Honey Insurance was founded in 2016 and is based in Surry Hills, Australia. An online platform is operated in the property insurance sector, where coverage is provided for homeowners, renters, and landlords. Services include protection against natural disasters, rebuilding costs, equipment damage, theft, vandalism, temporary accommodation, liability, and legal support. Contents are safeguarded from weather events such as cyclones, floods, storms, and bushfires.
What products or services does Honey Insurance offer?
Honey Insurance offers Smart Home Insurance and Home Sensors.
Who are Honey Insurance's investors?
Honey Insurance has 16 investors. Key investors include AGL Energy, PEXA, Mirvac, Metricon, and Gallatin Point Capital.