In June this year we were incredibly proud to see our friends at wefox complete the world’s largest Series C funding for an insurtech.
It’s a big moment for a sector that’s rapidly maturing. Leading up to the funding round, we were working closely with wefox to develop their architecture, strategy, identity and culture — so it was amazing to see our work in lights.
After the news broke, we spoke to wefox’s director of communications John Shewell about how the brand’s sense of purpose and culture was integral in achieving such rapid growth and incredible levels of investor support.
He explained that the magic happens when you make purpose and culture operate in harmony with innovation and operation. Having worked with wefox, we saw up close this intersection: how purpose and culture feed off each other to reinforce a continuous cycle of inspiration and creativity. It’s impressive to see. The fusion is a powerful source of energy.
Their purpose “to make people safe” has always provided a strong sense of who they are and why they do what they do. They have managed to codify and crystallise that purpose to create a simple, coherent message. But crucially, those big ideas are fully backed up by a culture totally in tune with the founder vision – a place where it’s safe to explore and experiment. It’s this coherence that really stands out most.
And a record-breaking funding round has shown that investors care about it too. After all, the return on their outlay relies on the future solidity of the brand. It’s relatively easy to create a buzz with a 50-strong team. But will you still have the right fundamentals when the business shifts to 500 and then 5,000 employees, spread out across multiple offices? Is your brand and culture robust enough to ride out unexpected setbacks?
Fast-growing brands inevitably have a close eye on their product and customer acquisition. But the most successful manage to achieve something more. The experience of wefox shows what can happen when you put your purpose centre stage and cultivate a culture that back it to the max.
We can read more about our work with wefox here.
If you’d like to talk to someone about your own challenges and ambitions drop us a line at [email protected]people-made.com – we’d love to talk!