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Palo Alto, California-based insurance tech unicorn Next Insurance today announced that it has completed the purchase of Denver's Juniper Labs in a move that will further machine learning innovation for workers' compensation and general liability insurance.
Juniper Labs was founded in 2019 and provides alternative open data and underwriting technology focused on small businesses. Together, the companies will continue to develop enhanced machine-learning capabilities and tools to strengthen the omni-channel customer experience.
This is Next Insurance's first acquisition following the close of its $250 million Series D financing round in September that valued the company at $2 billion. The Series D round was led by Alphabet Inc.'s late stage investment arm, Capital G. Insurtech venture firm
