Newfront
Digital insurance brokerage
- 501-1000 employees
- B2B
- Artificial Intelligence
- Insurance
- Big data
- South Beach, San Francisco, CA
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Company mission
Their mission is to bring insurance into the 21st century, innovating and transforming the industry on behalf of its customers.
1% employee growth in 12 months
Our take
Newfront Insurance is an insurance broker offering tech-driven risk management and insurance cover for businesses. It claims to provide fairer premiums using rich datasets to assess risk rather than the more traditional method of risk categories. The insurance industry has been slow to embrace digital innovation, but Newfront is a new insurtech firms aiming to transform the industry.
Spike Lipkin, CEO, was part of the original team at Opendoor and helped guide the start-up to a $3 billion valuation. At Opendoor, Lipkin experienced firsthand the difficulty of securing business insurance and recognized that the industry would greatly benefit from the use of AI. Newfront's ethos is customer-focused, and it aims to provide a fairer, more accessible experience for businesses.
Newfront merged with ABD Insurance, a B2B insurance provider focusing on employee benefits and financial services programs. Together, they are working to write $2 billion in premiums annually and occupy a more significant slice of the business insurance market. Funding is being invested into both US expansion and building the modern platform for clients, insurance professionals, and trading partners.
Steph
Company Specialist at Welcome to the Jungle
Benefits
- Insurance, Health & Wellness
- Health Insurance
- Financial & Retirement
- 401K Plan
- Family & Parenting
- Work From Home
- Vacation & Paid Time Off
- Gym Membership
- Commuter Checks & Assistance
Funding (last 2 of 4 rounds)
Apr 2022
$200m
LATE VC
Oct 2020
$100m
SERIES C
Total funding: $330.2m
This company has top investors
Leadership
Spike Lipkin
(CEO)After an MBA at Stanford, Spike spent a year as a Senior Consultant before 2 years at The Blackstone Group as an Investor. They left their role of 2 years at Opendoor.com in 2016 to co-found Newfront in 2017.
Gordon Wintrob
(CTO)Software Engineer at Cardspring, Engineering Manager at LinkedIn for 3 years.
Jobs (4)
Software Engineering
People, HR, Recruitment
Sales & Account Management