Pie Insurance raises $315 million

Pie Insurance, an insurtech specializing in workers compensation insurance for small businesses, said Wednesday it raised $315 million from investors to fund its growth and expansion into new lines of business.

The Series D round of funding was led by Centerbridge Partners and Allianz X, the digital investment arm of Allianz Group, Pie said in a statement.

Pie said it has now raised more than $615 million.

White Mountains Insurance Group participated as a new investor, joining previous investors that include Gallatin Point Capital, Greycroft and Acrew Capital.

Pie declined to identify the new lines of business it plans to enter.