Flock Receives $38 Million Investment

Flock raised $38 million in a series B investment round. This investment round was led by Octopus Ventures. Flock stands out as a company that insures drones. In July 2021, the company received $17 million in investment led by Chamath Palihapitiya. Now, UK-based Flock, which develops insurance technologies for commercial fleets, announced that it has received another investment.

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Flock's Series B Investment Round

It was announced that Flock received $38 million in a Series B investment round led by Octopus Ventures. In addition to Octopus Ventures, Commerz Ventures, Social Capital, Dig Ventures, Anthemis and Foresight Ventures also invested in this round. This new $38 million investment brings Flock's total investment to $60 million to date. Initially offering insurance services only for drones, company changed its business model and started offering insurance options for cars and motorcycles.

Flock is a company that offers insurance options for fleets of commercial cars and motorcycles. It currently has more than 600 customers, including major companies such as Jaguar Land Rover, Onto (an electric car rental subscription company) and Amazon. Founded in 2015 in London, Flock will use the investment to offer insurance options for different industries and enter new markets. Ed Leon Klinger, CEO of Flock, said that the company has increased its revenues 30-fold since its Series A investment round and has partnered with a total of 100 insurers in the UK.