Steadily Secures $30M Series C to Boost Landlord Insurance Tech
Steadily, a Texas-based landlord insurance startup, has secured $30 million in Series C funding, bringing its total funding to $89.5 million. The latest investment round, led by Two Sigma Ventures with participation from several other venture firms, values the company at $355 million. Since its founding in 2020, Steadily has rapidly grown, reporting $250 million in annualized gross written premiums and expanding its insurance offerings across all 50 states through multiple MGA programs and its own carrier, Steadily Insurance Company, which began writing property and casualty dwelling fire insurance in late 2024.
A key factor in Steadily's growth is its integration with over 400 proptech companies, such as Roofstock, TurboTenant, FurnishedFinder, and BiggerPockets. These integrations enable seamless data transfer that allows potential customers to receive immediate insurance cost estimates without manual input, enhancing user experience and streamlining the insurance purchase process.
Steadily's business model focuses specifically on the underserved market of individual rental property owners, who account for approximately 40% of rental units in the U.S. Unlike traditional homeowner policies retrofitted for landlords, Steadily designs its products expressly for rental properties, addressing unique risks and coverage needs. This niche focus, combined with technology-driven efficiency and customer-centric services, supports its rapid market penetration and customer adoption.
The funding will support continued technology investments to improve service speed and claims processing, aiming to reduce friction for landlords seeking insurance. In addition to insurance coverage, Steadily offers value-added services through partnerships, such as a Member Perks program, which provides affordable insurance access for landlords and complements existing property protection platforms like Guesty’s Damage Protection.
This development highlights growing investor interest in proptech-enhanced insurance solutions tailored to rental property markets. It also underscores a continuing trend where specialized insurtech firms leverage technology and data integration to meet the specific demands of niche customer segments, offering scalable solutions that traditional insurers may not fully address.