QBE Ventures

This venture capital firm invests globally in tech-enabled companies to enhance its insurance business model and drive growth through innovation.

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Updated: Jan 22, 2026 ·

About

QBE Ventures is the venture capital arm of QBE Insurance Group, a top 20 global insurance and reinsurance company operating in 37 countries. QBE Ventures invests globally in companies that provide access to differentiated technology which has the potential to enhance QBE's business model, drive efficiencies and develop new avenues of growth.

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Oct 1, 2025	Aboon	$18.0M Seed	—	Altai Ventures, Bain Capital Ventures, DVx Ventures, Flourish Ventures
Sep 1, 2025	proteanTecs	$51.0M Series D	—	Addition, Greylock, Dave Munichiello, In-Q-Tel, Lightspeed Venture Partners
Sep 1, 2025	Reserv	$16.0M Series B	—	Altai Ventures, Alumni Ventures, Bain Capital Ventures, Beat Ventures, DVx Ventures, Flourish Ventures, Greylock, Lightspeed India Partners, Madrona Ventures, Montage Ventures, Social Capital, Trucks Venture Capital, True Ventures, Upfront Ventures, Allison Pickens (Allison Pickens Ventures), Do Kwon, Josh Elman, Marc Benioff
Sep 1, 2025	PassiveLogic	$74.0M Series C	—	Addition, A/O PropTech, Greylock, Dave Munichiello, In-Q-Tel, Lightspeed Venture Partners
Jun 1, 2025	Glean	$150.0M Series F	—	Kevin Hartz, Addition, Amplify Partners, Andreessen Horowitz, Banana Capital, Battery Ventures, BITKRAFT Ventures, CapitalG, Cedar Capital Group, Coatue, Convective Capital, Coughdrop Capital, CRV, Daft Capital, Day One Ventures, DST Global, Emergence Capital, Felicis Ventures, FirstMark Capital, Flex Capital, Founders Fund, Friends & Family Capital, General Catalyst, Global Founders Capital, Goat Capital, Greenoaks Capital, Greylock, Dave Munichiello, Infinite Niches, In-Q-Tel, Insight Partners, Invariantes Fund, IVP, Jetstream, Kleiner Perkins, Lightspeed Venture Partners, Mantis VC, Matrix, MS&AD Ventures, Otherwise Fund, Pareto Holdings, Pioneer Fund, Ride Ventures, Salesforce Ventures, Sand Hill Angels, Sapphire Ventures, Sequoia Capital, Singular, Snowflake Ventures, Spark Capital, Summit Partners, SV Angel, Telescope Partners, The Hit Forge, Theory Forge Ventures, Thirty Five Ventures, Todd and Rahul's Angel Fund, Tribe Capital, Wellington Management, Y Combinator, YOBE Ventures, Andre Iguodala, Azeem Azhar, Ben Tossell, Bradley Horowitz, Brandon Philips, Jonathan Swanson, Joshua Reeves, Joshua Webster, Kulveer Taggar, Mathilde Collin, Paul Graham, Paul Stahura, Ryan Shea, Sahin Boydas, Scott Belsky, Siqi Chen, Suhail Doshi, Thijn Lamers
Jun 1, 2025	Reserv	$25.0M Series B	—	Altai Ventures, Alumni Ventures, Bain Capital Ventures, Beat Ventures, DVx Ventures, Flourish Ventures, Greylock, Lightspeed India Partners, Madrona Ventures, Montage Ventures, Social Capital, Trucks Venture Capital, True Ventures, Upfront Ventures, Allison Pickens (Allison Pickens Ventures), Do Kwon, Josh Elman, Marc Benioff
May 1, 2025	Snorkel AI	$100.0M Series D	—	01 Advisors, Abstract Ventures, Accel, Addition, Andreessen Horowitz, B8, Bessemer Venture Partners, Blossom Capital, Felicis Ventures, ff Venture Capital, General Catalyst, Greylock, Hemi Ventures, Lightspeed Venture Partners, Lobby Capital, Lux Capital, Scott Sandell, Qiming Venture Partners, Redpoint Ventures, Robot Ventures, SoftBank Investment Advisers, South Park Commons, Tiger Global Management, Vouch Insurance, Y Combinator, Fidji Simo, Greg Brockman, Jim Pitkow, Matt Mazzeo, Scott Belsky, Stacy Brown-Philpot
Sep 1, 2024	Glean	$260.0M Series E	—	Kevin Hartz, Addition, Amplify Partners, Andreessen Horowitz, Banana Capital, BITKRAFT Ventures, Coatue, Convective Capital, Coughdrop Capital, CRV, Daft Capital, Day One Ventures, DST Global, Emergence Capital, Felicis Ventures, Flex Capital, Founders Fund, Friends & Family Capital, General Catalyst, Global Founders Capital, Goat Capital, Greenoaks Capital, Greylock, Dave Munichiello, Infinite Niches, In-Q-Tel, Invariantes Fund, IVP, Jetstream, Kleiner Perkins, Lightspeed Venture Partners, Mantis VC, Matrix, MS&AD Ventures, Otherwise Fund, Pareto Holdings, Pioneer Fund, Ride Ventures, Salesforce Ventures, Sand Hill Angels, Sapphire Ventures, Sequoia Capital, Spark Capital, Summit Partners, SV Angel, The Hit Forge, Theory Forge Ventures, Thirty Five Ventures, Todd and Rahul's Angel Fund, Tribe Capital, Y Combinator, YOBE Ventures, Andre Iguodala, Azeem Azhar, Ben Tossell, Bradley Horowitz, Brandon Philips, Jonathan Swanson, Joshua Reeves, Joshua Webster, Kulveer Taggar, Mathilde Collin, Paul Graham, Paul Stahura, Ryan Shea, Sahin Boydas, Scott Belsky, Siqi Chen, Suhail Doshi, Thijn Lamers
Feb 1, 2024	Glean	$200.0M Series D	—	Kevin Hartz, Addition, Amplify Partners, Andreessen Horowitz, Banana Capital, BITKRAFT Ventures, Coatue, Convective Capital, Coughdrop Capital, CRV, Daft Capital, Flex Capital, Founders Fund, General Catalyst, Goat Capital, Greylock, Dave Munichiello, Infinite Niches, In-Q-Tel, Invariantes Fund, IVP, Jetstream, Khosla Ventures, Kleiner Perkins, Lightspeed Venture Partners, Mantis VC, MS&AD Ventures, Otherwise Fund, Pareto Holdings, Pioneer Fund, Ride Ventures, Salesforce Ventures, Sand Hill Angels, Sapphire Ventures, Sequoia Capital, Social Impact Capital, Spark Capital, The Hit Forge, Thirty Five Ventures, Todd and Rahul's Angel Fund, Tribe Capital, Uncork Capital, Y Combinator, YOBE Ventures, Andre Iguodala, Bradley Horowitz, Brandon Philips, Helen Liang, Jonathan Swanson, Joshua Reeves, Joshua Webster, Ryan Shea, Sahin Boydas, Scott Belsky, Suhail Doshi
Oct 1, 2023	Reserv	$20.0M Series A	—	Altai Ventures, Bain Capital Ventures, DVx Ventures, Flourish Ventures, Madrona Ventures, Allison Pickens (Allison Pickens Ventures), Marc Benioff
May 1, 2023	Cork	$6.0M Seed	—	Altai Ventures, Bain Capital Ventures, DVx Ventures, Flourish Ventures
Oct 1, 2022	iluminr	$3.0M Series A	—	—
Jul 1, 2022	Reserv	$8.0M Seed	—	Alkeon Capital, Altai Ventures, AME Cloud Ventures, Bain Capital Ventures, Dragoneer Investment Group, DVx Ventures, Flourish Ventures, Hanabi Capital, Hardware Club, Madrona Ventures, Storm Ventures, Allison Pickens (Allison Pickens Ventures), Anshu Sharma, Marc Benioff
May 1, 2022	Glean	$100.0M Series C	—	Kevin Hartz, Addition, Amplify Partners, Andreessen Horowitz, Banana Capital, BITKRAFT Ventures, Coatue, Convective Capital, Coughdrop Capital, CRV, Daft Capital, Flex Capital, Founders Fund, General Catalyst, Goat Capital, Greylock, Dave Munichiello, Infinite Niches, In-Q-Tel, Invariantes Fund, IVP, Jetstream, Kleiner Perkins, Lightspeed Venture Partners, Mantis VC, MS&AD Ventures, Otherwise Fund, Pareto Holdings, Pioneer Fund, Ride Ventures, Salesforce Ventures, Sand Hill Angels, Sapphire Ventures, Sequoia Capital, Spark Capital, The Hit Forge, Thirty Five Ventures, Todd and Rahul's Angel Fund, Tribe Capital, Y Combinator, YOBE Ventures, Andre Iguodala, Bradley Horowitz, Brandon Philips, Jonathan Swanson, Joshua Reeves, Joshua Webster, Ryan Shea, Sahin Boydas, Scott Belsky, Suhail Doshi
Jan 1, 2022	PassiveLogic	$34.0M Series B	—	Addition, Greylock, Dave Munichiello, In-Q-Tel, Lightspeed Venture Partners
Nov 1, 2021	Upbound	$60.0M Series B	—	Acrew Capital, Addition, Alchemist Accelerator, Bain Capital Ventures, Dell Technologies Capital, FirstMark Capital, Greylock, GV, In-Q-Tel, Intel Capital, Lightspeed Venture Partners, Sierra Ventures
Oct 1, 2021	Tensorflight	$4.0M Series A	—	—
Sep 1, 2021	HoneyBee	$6.0M Series A	—	ff Venture Capital, Gutter Capital, Hemi Ventures, Pareto Holdings, Polychain Capital, REMUS Capital, Slow Ventures, Smash Capital, Griffin Johnson, Marc Benioff, Rich Riley
Mar 1, 2021	Glean	$40.0M Series B	—	Addition, Amplify Partners, Banana Capital, General Catalyst, Greylock, Dave Munichiello, In-Q-Tel, IVP, Kleiner Perkins, Lightspeed Venture Partners, Mantis VC, Ride Ventures, Salesforce Ventures, Sand Hill Angels, Sequoia Capital, Spark Capital, Brandon Philips
Aug 1, 2020	proteanTecs	$45.0M Series C	—	Aleph VC, Atreides Management, Bessemer Venture Partners, Cupule Ventures, Redline Capital, Samsung NEXT Ventures, SoftBank Capital, Tribeca Venture Partners, Addition, Dave Munichiello, Greylock, In-Q-Tel, Lightspeed Venture Partners
Oct 1, 2019	Smart Radar System	$4.0M Series A	—	ff Venture Capital, Hemi Ventures
Feb 1, 2019	Glean	$15.0M Series A	—	Addition, Amplify Partners, Banana Capital, Greylock, Dave Munichiello, In-Q-Tel, IVP, Kleiner Perkins, Lightspeed Venture Partners, Mantis VC, Salesforce Ventures, Sand Hill Angels, Sequoia Capital, Spark Capital, Brandon Philips
May 1, 2018	Upbound	$9.0M Series A	—	Addition, Greylock, GV, In-Q-Tel, Lightspeed Venture Partners

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at QBE Ventures.

Leadership Team

Key people at QBE Ventures.

Deep Dive

QBE Ventures is the corporate venture capital arm of QBE Insurance Group that invests globally in early to mid-stage technology companies with the potential to transform the insurance industry. Its mission is to enhance QBE’s insurance business model and drive growth through innovation by leveraging emerging technologies such as data analytics, AI, and resilience solutions. The firm focuses on sectors aligned with insurance innovation, including resilience, data & AI, and financial technology, aiming to create new value for customers and partners while supporting QBE’s growth strategy[1][2][5].

Founded in 2018 by Marcus Marchant, QBE Ventures has evolved to not only invest but also build new ventures alongside startups, using QBE’s market expertise and scale to accelerate innovation. It has made around 20 investments globally, including notable portfolio companies like Converge Insurance, which provides cyber insurance solutions, and Snorkel AI, a data-centric AI platform. The firm’s approach combines strategic partnerships, venture investments, and new venture development to address emerging risks and customer needs in insurance[1][2][4].

Core Differentiators

Unique Investment Model: Combines direct investments with building new ventures internally, leveraging QBE’s assets and expertise to scale innovations.
Network Strength: Access to QBE’s global insurance market and industry knowledge, providing startups with strategic support and customer access.
Track Record: Approximately 20 investments and 4 exits, with a focus on companies that can reshape insurance through technology.
Operating Support: Active collaboration with portfolio companies to test, launch, and scale solutions that simplify complex insurance processes[1][2].

Role in the Broader Tech Landscape

QBE Ventures rides the trend of digital transformation and innovation in the insurance sector, particularly focusing on AI, data analytics, and resilience technologies. The timing is critical as insurance companies face increasing complexity from emerging risks like cyber threats and climate change. By investing in and building technology-driven startups, QBE Ventures influences the broader ecosystem by accelerating the adoption of advanced tech solutions that improve risk management, underwriting, and customer experience in insurance[1][3].

Quick Take & Future Outlook

Looking ahead, QBE Ventures is likely to deepen its focus on AI and data-driven insurance solutions, expanding its portfolio to include startups that address evolving risks and customer demands. Trends such as responsible AI use, catastrophe risk modeling, and cyber insurance will shape its investment strategy. As QBE Ventures continues to integrate innovation with QBE’s core business, its influence in reshaping insurance through technology is expected to grow, reinforcing its role as a key driver of sustainable growth and digital transformation in the sector[3][1].

This strategic blend of investment and venture creation positions QBE Ventures uniquely to harness emerging technologies and deliver innovative insurance solutions globally.

Sources

Core Differentiators

Unique Investment Model: Combines direct investments with building new ventures internally, leveraging QBE’s assets and expertise to scale innovations.
Network Strength: Access to QBE’s global insurance market and industry knowledge, providing startups with strategic support and customer access.
Track Record: Approximately 20 investments and 4 exits, with a focus on companies that can reshape insurance through technology.
Operating Support: Active collaboration with portfolio companies to test, launch, and scale solutions that simplify complex insurance processes[1][2].

Role in the Broader Tech Landscape

Quick Take & Future Outlook

This strategic blend of investment and venture creation positions QBE Ventures uniquely to harness emerging technologies and deliver innovative insurance solutions globally.