Investment companies Goldman Sachs Asset Management and B Capital led a $200m funding round in Newfront, the modern insurance brokerage platform, with participation from Founders Fund and Meritech Capital, Y Combinator, Index Ventures, Bloomberg Beta, XYZ, Susa Ventures, Pruven, Propel, Vetamer, Altai and Tony Xu. "The nature of risk has changed drastically over the past century but the insurance industry has not modernized to meet these new challenges. This investment furthers Newfront's commitment to building the modern platform for clients, insurance professionals, and trading partners," Spike Lipkin, Newfront Co-Founder and CEO.