Pie Insurance provides workers’ compensation insurance to small businesses and partners with insurance agencies. It uses data-driven technology, analytics, and industry expertise to price coverage and streamline the buying experience.
Access to pre-IPO shares is available to accredited investors through UpMarket.
Pie Insurance shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Full offering memoranda and risk disclosures provided before any commitment is required.
Review and sign subscription agreement. All documents handled digitally through the platform.
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
| Date | Round | PPS (split-adj.) | Valuation |
|---|---|---|---|
| 2021 | Series D |
Pie Insurance said its September 2022 Series D raised $315 million, co-led by Centerbridge Partners and Allianz X. The company said the capital would support expansion into new lines of business and development of its algorithms.
Pie Insurance describes itself as an insurtech specializing in workers’ compensation for small businesses, and says it is modernizing coverage by automating the entire experience. Allianz X says the product aims to deliver simple, trusted, and affordable coverage.
In May 2020, Pie Insurance announced $127 million in new financing and capital commitments, calling itself one of the fastest-growing insurtechs in the country. The company said $27 million would support growth and expansion of its offering to small business owners.
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No. As of March 2026, Pie Insurance is a private company and does not trade on any public stock exchange. Accredited investors can access Pie Insurance shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Pie Insurance does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Pie Insurance shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered more than $500M in alternative investments since 2019.
Pre-IPO investments carry significant risks. Pie Insurance shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Pie Insurance provides workers’ compensation and other commercial insurance to small businesses, serving 55,000+ policies in force and 5,000+ partner agencies, after its $315M Series D to expand into new lines — accredited investors can access Pie Insurance stock through UpMarket.