USA, Palo Alto-based insurtech Next Insurance has raised $265 million in a funding round featuring investments from The Allstate Corporation and Allianz X. In addition to the funding, Next Insurance has entered strategic partnerships with Allstate and Allianz X. The collaboration with Allstate involves providing Next Insurance products to Allstate customers and jointly developing innovative commercial auto insurance products for the vast small business market. This infusion of capital aims to expedite the company's journey to profitability and further extend its distribution efforts across the United States.