WASHINGTON-(BUSINESS WIRE)-Pie Insurance, an insurtech startup founded in 2017, today announced the completion of a $45M Series B funding round.

To date, Pie has raised $61 million to fund its innovative approach toward workers’ compensation insurance for small businesses.

Pie sold its first policy in March 2018, and in the first 11 months since launch the company has generated more than $10 million in written premium as thousands of small business owners have been drawn to the company’s easy-to-use digital experience and competitive prices.

According to Pie’s proprietary analysis, 80% of small businesses are overpaying for workers’ compensation coverage, often by as much as 30%. “In addition to their strong growth, Pie has produced outstanding underwriting results,” said Ian Sigalow, Co-Founder and Partner at Greycroft, whose Growth Fund participated in this financing.

“We’re grateful to work with such supportive investors to take Pie to the next level and fundamentally change the way small businesses get workers’ compensation insurance.”

Pie Insurance provides workers’ compensation insurance directly to small businesses at www.

Pie operates as a managing general agency for Sirius America Insurance Company, a subsidiary of Sirius Group, offering A.M. Best A ra