Diligence memo · auto-generated · as of July 3, 2026
Root
Root has raised $3.0M over 1 round; too few niche peers to rank its valuation yet.
Businessfiled
Root operates in Insurtech, based in Cape Town, Africa. SA insurtech startup Root raises $3m seed funding round 0 By Tom Jackson on November 15, 2021 News , Southern Africa Root, a Cape Town-based startup building infrastructure for the digital insurance economy, has closed a US$3 million seed funding round to expand into new markets. Founded in 2016, Root is a cloud-native end-to-end insurance platform that enables organisations of any size to build, sell and manage digital insurance products and unlock modern engagement channels.
Sub-sector tags: insurance, insurtech.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Root has raised $3.0M in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Seed (a $1.0M–$4.0M round).
Largest single filing: $3.0M on 2021-11-15.
Most recent recorded round closed around 2021-11-15.
Valuation (modeled)modeled
Provath models Root at approximately $45M (range $2.6M–$243M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Too few comparable companies in this niche to rank the valuation fairly yet.
Financing rhythm & timingmixed
Last raise 4.6 yr ago; this sector typically re-raises about every 18 months.
Only one round on record and long silent — often defunct, acquired, or gone quiet.
Comparablesmixed
Capital scale ranks ahead of 94% of Insurtech peers (16 compared).
Modeled value ranks above 94% of those peers.
Closest niche peers: Naspers Foundry, Turaco, OKO.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.