Based in Munich, Germany, ottonova is the only digital-first, full stack health insurance carrier in Germany. Its state-of-the-art platform enables a superior customer experience and more efficient processes compared to incumbent players. Capitalising on its product and technology innovation, ottonova has already attracted more than 20,000 customers to its platform, and established advantageous partnerships with key players in the insurance space.
The additional funding, comprised of primary capital from Earlybird as well as existing shareholders, such as HV Capital and Vorwerk Ventures, will be used to accelerate the company’s growth trajectory, further expand its partner base and launch additional insurance products.
Roman Rittweger, Co-founder and CEO of ottonova, stated: “We are glad that we can partner up with Earlybird as experienced and well-established venture capital provider, who brings in its health and insurtech expertise.”
Julian Riedlbauer, Partner at GP Bullhound, commented: “ottonova is leading the digitisation of the German insurance landscape. We are excited to have advised the company on its latest funding round by Earlybird and look forward to following its continued growth.”
The transaction is further testament to GP Bullhound’s track record in growth stage private placements, following recent completed transactions including the investment in Lingoda by Summit Partners, in Partnerize by AKKR and in Ecovadis by CVC.
About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm today has 10 offices spanning Europe, the US and Asia. For more information, please visit www.gpbullhound.com