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§ Private Profile · Mumbai, India
Digital-first insurance for motor, health, travel, and life. Offers paperless policies directly to Indian consumers online.
Acko has raised $463.0M across 6 funding rounds.
Key people at Acko.
Acko was founded in 2016 by Ruchi Deepak (Co-Founder).
Acko has raised $463.0M in total across 6 funding rounds.
Acko is a digital-first insurance provider based in Bengaluru, India, that offers auto, health, life, and travel insurance directly to consumers through a paperless online platform. The company eliminates traditional agents and retail costs to provide faster claims processing, while also generating revenue through embedded micro-insurance integrations. Operating with a workforce of over 1,000 employees, the insurtech firm has scaled its operations to serve more than 50 million retail customers across the Indian market. Acko has achieved a valuation exceeding $1.1 billion after raising over $450 million in total funding from prominent institutional investors including Amazon, General Atlantic, and Accel. The enterprise also maintains strategic partnerships with major corporate platforms like Ola and MakeMyTrip to distribute its embedded insurance products at checkout. The organization was founded in 2016 by Varun Dua and Ruchi Deepak.
Acko was founded in 2016 by Ruchi Deepak (Co-Founder).
Acko has raised $463.0M in total across 6 funding rounds.
Acko's investors include Shantanu Rastogi, Nithya Easwaran, Binny Bansal, Aditya Sharma, Oshri Kaplan, Ascent Capital, Accel, Amit Agarwal, Karim Hirji, Kabir Misra, SAIF Partners, TechPro Ventures.
Acko has raised $463.0M across 6 funding rounds. Most recently, it raised $260.0M Series D in October 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Oct 1, 2021 | $260M Series D | Shantanu Rastogi, Nithya Easwaran | Binny Bansal, Aditya Sharma | Announced |
| Sep 1, 2020 | $60M Series D | Oshri Kaplan | — | Announced |
| Nov 30, 2019 | $36M Venture Round | Ascent Capital | — | Announced |
| Mar 13, 2019 | $65M Series C | — | Binny Bansal, Accel, Amit Agarwal, Karim Hirji, Kabir Misra, Saif Partners, Techpro Ventures | Announced |
| May 27, 2018 | $12M Venture Round | Amit Agarwal | Ashish Dhawan, N.r.narayana Murthy | Announced |
| May 1, 2017 | $30M Seed | — | Axilor Ventures, Atul Nishar, Hemendra Kothari, Rajeev Gupta, RAO B. Telidevara, Senapathy Gopalakrishnan, Venk Krishnan | Announced |
Key people at Acko.
Acko is India's first fully digital insurer, launched in 2016 as a technology-driven insurtech company that offers motor, health, travel, life, and embedded insurance products like mobile coverage through a seamless online platform.[1][2][3][5] It serves individual consumers, corporate employees, and partners (e.g., via CRED Garage), solving longstanding issues in India's insurance sector—such as high costs, paperwork, slow claims, and lack of personalization—by eliminating intermediaries, using AI for instant processing, and providing fair, behavior-based pricing.[1][2][4] With 1,260 employees, ₹3,336 Cr in total funding from investors like General Atlantic, Accel, and Elevation Capital, and FY24 revenue surpassing ₹2,000 Cr (up 20% YoY), Acko achieved unicorn status in 2021 and continues strong growth across auto, health, and ancillary services like Acko Drive for car servicing and sales.[1][3][5]
Acko was founded in November 2016 in Bengaluru by Varun Dua, a veteran in insurance with prior leadership at McKinsey and Coverfox, alongside co-founders Vishwanath Ramarao and Ruchi Deepak (Founder Emeritus).[2][3][5][6] The idea emerged from Dua's frustration with India's outdated, agent-heavy insurance model amid rising digital adoption; he aimed to create a direct-to-consumer (D2C) platform leveraging tech for affordability and ease.[2][4] Key milestones include launching car insurance in 2017 after securing an IRDAI license, expanding to corporate health (2018), hitting unicorn status with $255M Series D in 2021 (valuing it at $1.1B), crossing ₹1,000 Cr revenue (2022), entering life insurance, and rebranding in 2025 with a Möbius strip logo symbolizing endless innovation.[3][5] Early traction came from Amazon and Accel backing, enabling rapid scaling in a market ripe for disruption.[1][5]
Acko stands out in India's insurtech space through these key strengths:
These enable 20% YoY revenue growth to ₹2,000 Cr FY24, despite a past IRDAI fine for outsourcing lapses.[3]
Acko rides India's insurtech boom, fueled by 1B+ smartphone users, low insurance penetration (4-5% of GDP vs. global 7%), and post-COVID demand for health/digital covers amid regulatory shifts like IRDAI's sandbox for tech innovation.[1][2][4][5] Timing aligns with UPI/digital payments exploding access, while market forces—rising vehicle ownership, wellness focus, and embedded insurance in fintech/ecommerce—favor its D2C scalability.[1][3] It influences the ecosystem by pioneering AI underwriting (e.g., behavior-based premiums), partnering with CRED/Spinny, and normalizing instant claims, pressuring legacy players (e.g., ICICI Lombard) to digitize and boosting overall sector growth toward $100B+ by 2030.[3][4][5]
Acko's trajectory points to composite insurer ambitions, blending general/life products with Acko Drive's auto super-app evolution and deeper AI for predictive health/personalization.[3][4][5] Trends like generative AI for claims chats, telematics mandates, and Ayushman Bharat expansions will accelerate growth, potentially pushing toward IPO amid India's unicorn maturation. Regulatory tailwinds and partnerships could double revenue in 2-3 years, solidifying its lead in redefining insurance from a grudge purchase to effortless protection—echoing its founding mission to make coverage accessible for all.[2][3]
