About Ideal Insurance Brokers
Ideal Insurance Brokers is a company based in Kolkata (India) founded in 2005 by Sandeep Kumar Modi, Ravi Kothari, Rahul Mohata, and Rahul Agarwal.. Ideal Insurance Brokers has raised $1.96 million across 4 funding rounds from investors including Style Baazar, Venture Catalysts and Xelp. The company has 170 employees as of April 08, 2024. Ideal Insurance Brokers has completed 1 acquisition, including Govind Consultancy. Ideal Insurance Brokers operates in a competitive market with competitors including Sedgwick, Encompass, Moody's Analytics, Munich Re and iManage, among others.
- Headquarter Kolkata, India
- Employees 170 as on 08 Apr, 2024
- Founders Sandeep Kumar Modi, Ravi Kothari, Rahul Mohata, Rahul Agarwal
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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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- Legal Name Ideal Insurance Brokers Private Limited
- Date of Incorporation 13 Jan, 2005
- Jurisdiction Kolkata, West Bengal, India
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Annual Revenue
$4.23 M (USD)59.99as on Mar 31, 2023
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Net Profit
$426.7 K (USD)57.06as on Mar 31, 2023
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EBITDA
$686.74 K (USD)25.85as on Mar 31, 2023
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Total Equity Funding
$1.96 M (USD)
in 4 rounds
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Latest Funding Round
$960.15 K (USD), Seed
Mar 20, 2024
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Investors
Style Baazar
& 41 more
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Employee Count
170
as on Apr 08, 2024
- Investments & Acquisitions
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Funding Insights of Ideal Insurance Brokers
Ideal Insurance Brokers has successfully raised a total of $1.96M across 4 strategic funding rounds. The most recent funding activity was a Seed round of $960.15 thousand completed in March 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 4
- Last Round Seed — $960,152
- First Round First Round
- Investors Count 42
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2024 | Amount | Seed - Ideal Insurance Brokers | Valuation | Venture Catalysts | |
| Sep, 2020 | Amount | Seed - Ideal Insurance Brokers | Valuation | GSV |
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| Apr, 2018 | Amount | Seed - Ideal Insurance Brokers | Valuation | Binod Kumar Agarwalla , Atul Jain |
| 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 Ideal Insurance Brokers
Ideal Insurance Brokers has secured backing from 42 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Style Baazar, Venture Catalysts and Xelp. 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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Early-stage startup ecosystem is supported by Venture Catalysts in India.
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Founded Year | Domain | Location | |
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Venture capital firm focused on early-stage companies
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Founded Year | Domain | Location | |
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Business solutions for retailers are provided by Vista Business Ventures.
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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 Ideal Insurance Brokers
Ideal Insurance Brokers has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Govind Consultancy. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| 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 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Diversified insurance brokerage services are provided across multiple sectors.
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0 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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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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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Ideal Insurance Brokers
| 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 |
Ideal Insurance Brokers Comparisons
Competitors of Ideal Insurance Brokers
Ideal Insurance Brokers operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Sedgwick, Encompass, Moody's Analytics, Munich Re and iManage, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Claims administration, loss adjusting, and benefits management services are provided.
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| domain | founded_year | HQ Location |
Corporate Digital Identity and KYC solutions are provided by Encompass.
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| domain | founded_year | HQ Location |
Risk management software is supplied for insurance and various sectors.
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| domain | founded_year | HQ Location |
Platform offering insurance risk management solutions
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| domain | founded_year | HQ Location |
Cloud-based document and risk management software is offered for enterprises.
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| domain | founded_year | HQ Location |
Provider of AI solutions for insurance underwriting, claims, and risk
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 Ideal Insurance Brokers
Frequently Asked Questions about Ideal Insurance Brokers
When was Ideal Insurance Brokers founded?
Ideal Insurance Brokers was founded in 2005 and raised its 1st funding round 12 years after it was founded.
Where is Ideal Insurance Brokers located?
Ideal Insurance Brokers is headquartered in Kolkata, India. It is registered at Kolkata, West Bengal, India.
Who is the current CEO of Ideal Insurance Brokers?
Rahul Agarwal is the current CEO of Ideal Insurance Brokers. They have also founded this company.
Is Ideal Insurance Brokers a funded company?
Ideal Insurance Brokers is a funded company, having raised a total of $1.96M across 4 funding rounds to date. The company's 1st funding round was a Seed of $1M, raised on Jul 17, 2017.
How many employees does Ideal Insurance Brokers have?
As of Apr 08, 2024, the latest employee count at Ideal Insurance Brokers is 170.
What is the annual revenue of Ideal Insurance Brokers?
Annual revenue of Ideal Insurance Brokers is $4.23M as on Mar 31, 2023.
What does Ideal Insurance Brokers do?
Ideal Insurance Brokers was established in 2005 in Kolkata, India, within the insurance sector. A variety of products, including life, health, and general insurance, is supplied to individuals and businesses. Operations extend across multiple regions, with emphasis placed on risk management strategies for assets and liabilities. Services are tailored to address protection needs in diverse markets.
Who are the top competitors of Ideal Insurance Brokers?
Ideal Insurance Brokers's top competitors include Sedgwick, Encompass and Shift Technology.
How many acquisitions has Ideal Insurance Brokers made?
Ideal Insurance Brokers has made 1 acquisition, including Govind Consultancy.
Who are Ideal Insurance Brokers's investors?
Ideal Insurance Brokers has 42 investors. Key investors include Style Baazar, Venture Catalysts, Xelp, Primarc, and BVC Ventures.