Building Better: Nationwide Ventures & Betterview

Welcome to the NVCA Blog series, Building Better, where we celebrate the dynamic relationship between our VC members and their innovative portfolio companies around the nation. For today’s Building Better, we spoke with Brian Anderson at Nationwide Ventures, and David Lyman & David Tobias of Betterview.

Brian Anderson, Nationwide Ventures

Give us some background on Nationwide: How did the firm start, what is your mission and how does the firm strive to meet its goals?

Nationwide Ventures is the venture capital arm of Nationwide, one of the largest insurance and financial services organizations in the U.S. We started deploying capital in 2016 and focused initially only on early-stage companies. Today, we take a slightly broader approach – both with the stage of company maturity and thematic focus. Today we look at industries and technologies that impact our customers but might not be directly in the insurtech or fintech space.

For example, we invested in Flo (acquired by MOEN in 2020), an IoT/hardware startup that remotely monitors water usage, leaks, and plumbing in the home using machine learning (ML) and dynamic home water profiling – this approach allowed the device to understand when and when not to shut off water in the home based on each home’s unique seasonal ML profile remotely and automatically (after a training period). Flo prevents >90% of non-weather-related water damage, and helps customers avoid the hassle of water damage and potential insurance claims.

We also grew to expand into (Read more...)