Neos, a London, UK-based connected home insurance company, secured £5M in Series A funding.
The round was led by Aviva Ventures with strategic partner Munich Re investing strategic resource to drive growth.
The company intends to use the funds to accelerates growth.
CO-founded by insurance expert Matt Poll, former director of MoreThan, and home automation expert Krystian Zajac, Neos is a advancing a home insurance product that uses smart home technology to proactively protect homes from fire, water damage and theft.
The company provides customers with smart home sensor and HD camera technology, all within its home insurance premium. The technology can detect and help prevent fire, theft, and water leaks, with real time updates to your smartphone, and a 24/7 UK emergency assistance team who can arrange a fix via their tradesperson network.
MunichRe will provide underwriting capacity to Neos through a managing general agent (MGA) agreement.
In November 2016, Neos received a strategic investment and exclusive partnership with ZPG plc, which gives the company exclusive access to a vast audience of property and insurance interested consumers. It is also backed by Gary Lineker.