Centerbridge Partners and Allianz X led a $315m Series D funding round in Pie Insurance.

Centerbridge Partners, a multi-strategy private investment firm, and Allianz X, a venture capital firm, led a $315m Series D funding round in Pie Insurance, a tech-enabled provider of workers' compensation insurance to small businesses, with participation from White Mountains Insurance Group, Gallatin Point Capital, Greycroft and Acrew Capital. "This round of financing is monumental in more ways than one. It's no secret that growth-stage startups, and specifically insurtechs, are facing a challenging fundraising environment. However, Pie's ability to grow rapidly while still focusing on delivering strong unit economics and sustainable loss ratios, is proving to be a key differentiator. Pie is disrupting the highly fragmented small business commercial insurance market through our proprietary technology which more accurately prices and underwrites insurance risks," John Swigart, Pie Co-Founder and CEO.