COMPANY PROFILE

SafetyWing

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Global health insurance and benefits for remote workforces.

Palo Alto, United StatesFounded 2017Health Tech & Medtech

Valuation $100–250M Last recorded · 2022

Revenue $50–100M Latest reported FY

Headcount 100–500 Current team size

Total funding $10–50M Disclosed equity funding

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About SafetyWing

SafetyWing is an insurance technology company building a global social safety net for remote and distributed teams, as well as independent remote workers and nomads. The company was founded in 2017 by Norwegian entrepreneurs Sondre Rasch (CEO), Sarah Sandnes (CTO), and Hans Nyvold Kjellby (COO). The founders, being remote workers and nomads themselves, experienced firsthand the challenges of accessing comprehensive benefits outside of a traditional, single-country employment model. Rasch, who previously worked as a policy advisor for the Norwegian government, became frustrated with the slow pace of governmental change and aimed to create a private-sector solution to the lack of a borderless social safety net.

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The company's core mission is to decouple benefits from geographic location, providing a suite of products that function like a 'home country on the internet' for its members. SafetyWing operates on a subscription-based model through a fully digital platform, allowing users to sign up and manage their policies from anywhere in the world. This model serves both individual freelancers and remote companies seeking to provide equitable benefits to a globally distributed workforce.

SafetyWing offers several key products. 'Nomad Insurance' is a travel medical insurance plan for individuals, covering unexpected illness or injury while abroad, along with travel-related issues like lost luggage and trip delays. 'Remote Health' is a comprehensive global health insurance plan for remote companies and their teams, covering employees and contractors worldwide under a single plan. This plan provides more extensive medical coverage, including options for preventative care, dental, and vision. The company is also developing future products such as 'Remote Doctor' and 'Remote Retirement' to further build out its global benefits platform.

SafetyWing was part of Y Combinator's Winter 2018 batch and has since secured significant funding to scale its operations. The company raised an $8 million Series A round in 2021 and a $35 million Series B round in 2022, led by investors including Kinnevik, Creandum, byFounders, and Mundi Ventures. Headquartered in San Francisco, California, SafetyWing operates as a fully remote company itself, with a team distributed across the globe, reinforcing its deep understanding of the market it serves.

Source: Dealroom company data