Obie

Obie is a cloud-based insurance and portfolio management platform for small and medium-sized commercial real estate managers and funds. The platform provides property information in one, centralised space, and enables easy collaboration with property managers, leasing brokers, and more. The startup also offers P&C insurance.

During its invite-only Beta period, Obie claimed to broker insurance for over $1bn worth of real estate. As of February 2020, there is over 100m sq ft worth of real estate being managed on its property.

Obie offers its commercial property management services for free, with a revenue model based on selling insurance products to users and property owners - a strategy that has generated a claimed 300% growth since launch.

In 2019 Obie participated in Y Combinator.

In February 2020 Obie announced it had raised $2.8m and moved its platform out of private beta. The company stated the fresh capital will be used towards continued growth, strengthen its feature set, and build out its staff and infrastructure.

In May 2021 Obie raised $10.7m Series A funding. Obie stated it has provided insurance for over $3bn-worth of property in the past year, and its premiums have reportedly reached around $10m. Obie has also revealed its in the process of putting together its own product, slated to roll out at the end of Q2 2021.

In February 2022 Obie partnered with real estate investment platform Roofstock which will enable Roofstock users to purchase insurance within minutes, directly through Rooftstock. Later in December of the same year Obie and Belong announced a new partnership to support new landlords. 

During April 2023 the company was selected by co-buyer platform Nestment as its insurance partner to streamline the insurance process. The arrangement was part of Obie’s efforts to transform the insurance process for landlords and rental property investors.

Later in May 2023 the company partnered with Marketplace Homes to better manage risk for its properties. The company is seeking to simplify the search for landlord insurance. Marketplace Home clients will be able to access Obie’s services, better protecting their properties. The news signalled increasing attention on Obie and comes after it was selected by Nestment to streamline the insurance process for co-buyers.

Soon after in May 2023 it raised $25.5m in funding, brining its total funding raised to $39m.