Neos secures further backing from Aviva

We’re excited to be able to share that we’ve secured further investment from Aviva, the UK’s leading insurance provider. The deal builds on our relationship with Aviva who recognised our potential early on through and led our Series A investment round back in May 2017.

What this means for Neos

Over the past year we have grown significantly. We’ve seen our smart technology making a true difference to our customers lives, saving them both time and the headache of having to make a claim. Our customers have always been at the heart of what we do, and Aviva share this vision. This makes them a great fit for us.

In the UK, Aviva are the leading insurer. They serve one in every four households and providing a service to 33 million customers worldwide. Aviva will take a majority stake in Neos giving us investment and providing resources to accelerate our growth plans.

Neos CEO, Matt Poll, said:

“I am delighted that Aviva has chosen to make a further significant investment in Neos. It is a great reflection on how far we have come in creating value for our customers.

“I know Aviva shares our excitement about the future for our technology and innovative proposition in the insurance market and what Neos can go on to achieve.”

Rob Townend, MD of Aviva UK General Insurance, said:

“At Aviva, helping customers when bad things happen is at the heart of what we do.  But we also want to help prevent bad things happening in the first place. Harnessing the power of smart home technology allows customers to better manage what’s happening in their homes. It helps them to avoid a small problem, like a slow water leak, becoming a big inconvenience.

“By taking a majority share in the business, we’ll be able to use Neos’s expertise in smart technology. We’re excited to build on our existing relationship with them.”

Read more from Insurance Post , Insurance Age and Insurance Times who all covered the deal.

Hear from our CEO, Matt Poll and Aviva’s product and proposition director, Adam Beckett talk about how the partnership will continue to tackle leak claims.