Source: The Economics Times
The Insurance technology startup Slide is planning to raise $340 million through an initial public offering (IPO) in the United States. Florida-based Slide revealed in a filing yesterday it is targeting a valuation of $2.12 billion.
The IPO will consist of shares being sold by both Slide and several of Slide’s existing investors. Slide will be listed on the Nasdaq stock exchange as “SLDE” post-IPO.
The Slide is among a growing group of insurance companies that have gone public in recent months, as investor interest in insurance technology gets stronger.
The Emphasis on High-Risk Locations:
Slide was founded in 2021 by Bruce and Shannon Lucas, who both have solid backgrounds in the insurance sector. The company offers homeowners and property insurance, primarily in high-risk coastal states such as Florida and South Carolina.
Slide’s strategy has been to take over insurance policies written by state-run insurers and bankrupt companies. That has enabled the company to grow at a fast rate and plug holes in the market.
In 2023, Slide reported $875 million in insurance premiums. That grew to more than $1.3 billion in 2024. The company’s financial results also improved. In Q1 2025, Slide booked $281.6 million in revenue, with a net profit margin of $92.5 million. The same quarter for 2024 showed $199 million in revenues and $54.7 million in profits.
Utilization of IPO Proceeds
Slide has indicated it will use proceeds generated from the IPO to:
- Grow its insurance mega-platform in Florida and additional coastal states
- Increase its insurance capacity by policies written
- Enhance its reinsurance portfolio (insurance for insurers)
- Assist day to day business operations
To continue supporting its operations, the company previously raised $660 million from catastrophe bonds, which help mitigate losses from catastrophic events such as hurricanes.
The Underwritten by Major Banks
The IPO is being underwritten by two major banks, Barclays and Morgan Stanley. They will help attract buyers for the offering and manage the sale of shares to investors.
What Will Happen Next
In the following weeks, the company will market the IPO to investors via a “roadshow.” If the marketing goes as planned, trading will start shortly thereafter. With excellent financial growth and a clear plan, Slide hopes its debut will resemble those of other recent IPOs in the insurance tech sector.
