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Tech company raises $25.5M in funding round, to launch on-demand insurance platform

Technology company Trov said April 26 that it has raised a totalof $39 million in funding.

The company closed $25.5 million in series C funding, which wasled by Oak HC/FT and included investments from Suncorp Group Ltd., GuidewireSoftware Inc. and Anthemis Group.

Trov also announced its upcoming launch of the first on-demandinsurance platform, which will enable anyone to turn insurance on or off for individualitems, such as a laptop, camera or bicycle. On-demand insurance will be availableto Trov users first in Australia in May, followed by the U.K. in the second halfof 2016, and the U.S. and other territories in 2017.

To offer on-demand insurance, Trov is partnering with in the U.K. and Suncorp Groupin Australia. At launch, the company will offer protection for a limited numberof items, including consumer electronics, with additional categories of items becomingavailable over the course of the year. The Trov app is currently available for freedownload, without the on-demand insurance feature, on iOS and Android in Australia,the U.K. and U.S.