Fundraising Round Led by Two Sigma Ventures: Steadily Secures $30 Million to Transform Landlord Insurance
AUSTIN, Texas, April 23, 2025 (Newswire.com) – In a significant move for the real estate insurance sector, Steadily, a pioneering provider of landlord insurance in the United States, has announced the successful closure of a $30 million Series C funding round. This latest investment, led by Two Sigma Ventures, values the company at an impressive $355 million. With this funding, Steadily aims to further enhance its offerings and streamline the insurance process for rental property owners across the nation.
A Rapidly Growing Market
Steadily has positioned itself as a leader in the landlord insurance market, catering to the needs of approximately 18 million individual rental property owners in the U.S. These landlords collectively own the vast majority of single-family rentals, making them a crucial segment of the real estate landscape. Since its inception in 2020, Steadily has experienced remarkable growth, achieving over $250 million in annualized gross written premium. This rapid ascent underscores the company’s commitment to providing fast, affordable, and high-quality insurance solutions tailored specifically for real estate investors.
Funding Milestones
The recent Series C funding round brings Steadily’s total funding to an impressive $89.5 million, following a successful $28.5 million Series B round in 2023. The latest investment was not only led by Two Sigma Ventures but also saw participation from notable investors such as Clocktower Technology Ventures, Belfer Investment Partners, Nine Four Ventures, and Matrix Partners. This diverse backing reflects the confidence investors have in Steadily’s innovative approach to landlord insurance.
A Personal Journey
Darren Nix, Co-Founder and CEO of Steadily, shared the inspiration behind the company’s creation. “The idea for Steadily was planted eight years ago when I had a comically difficult time getting insurance for my first rental property,” he recounted. This personal experience fueled Nix’s passion for creating a solution that addresses the unique challenges faced by landlords. In fact, he became Steadily’s first customer, allowing the team to empathize deeply with their clientele. The company has since invested tens of millions in technology, enabling users to purchase high-quality insurance in mere seconds.
Innovative Technology and Integrations
One of the key drivers of Steadily’s growth is its strategic partnerships and proptech integrations. The company has successfully integrated with over 400 platforms, including Roofstock, TurboTenant, FurnishedFinder, and BiggerPockets. These integrations allow for the automatic ingestion of property data, enabling users to receive instant insurance estimates without any manual input. This seamless experience is a game-changer for landlords, simplifying the insurance process and making it more accessible.
Addressing Market Needs
Colin Beirne, Partner at Two Sigma Ventures, emphasized the significant gap in the insurance market for individual landlords. “Despite owning 40% of America’s rental units, individual landlords have been dramatically underserved by the insurance industry,” he noted. Steadily has developed a solution specifically designed for rental property owners, moving away from the traditional homeowner policies that often fail to meet their needs. Beirne expressed enthusiasm for supporting Steadily as it continues to transform the insurance landscape for millions of property investors.
Comprehensive Coverage Across the Nation
Steadily’s commitment to serving landlords is evident in its extensive coverage options. The company operates in all fifty states, offering a variety of programs to cater to nearly every landlord’s needs. This includes the Steadily Insurance Company, an A-rated insurance carrier, along with five Managing General Agent (MGA) programs and a large insurance agency. This diverse portfolio ensures that Steadily can provide tailored solutions for a wide range of rental property owners.
About Steadily
Founded by a team of seasoned insurance experts and rental property investors, Steadily aims to revolutionize the insurance experience for landlords. With dual headquarters in Austin, Texas, and Overland Park, Kansas, the company is backed by a robust network of investors, including Zigg Capital, Matrix Partners, Koch Ventures, Clocktower Technology Ventures, Nine Four Ventures, Belfer Investment Partners, Peak State Ventures, Vesta Ventures, and SV Angel.
For more information about Steadily and its offerings, visit Steadily’s website and follow them on social media @SteadilyInsure and Facebook.com/SteadilyInsurance.
About Two Sigma Ventures
Two Sigma Ventures is an early-stage venture firm that invests in entrepreneurs harnessing the power of data and advanced computing to build transformative businesses. With over a decade of experience, the firm seeks out innovators who, like Two Sigma in investment management, leverage data science to redefine their industries. Founders benefit from unparalleled access to a network of world-class data scientists, engineers, and specialized resources that support their vision. For more information, visit Two Sigma Ventures.
In conclusion, Steadily’s recent funding round marks a pivotal moment in the evolution of landlord insurance. With a clear vision, innovative technology, and a deep understanding of their customers’ needs, Steadily is poised to continue its trajectory of growth and success in the ever-evolving real estate market.