The latest perspectives from the Avanta Ventures team, news about our portfolio companies, and upcoming events.
We hope your 2022 is off to a great start. It's hard to believe we are almost through the first quarter of the year. Just like last year, we are seeing things start off in hyper speed.
Last year proved to be a fast-growth year for InsurTech, Mobility, and Adjacent markets. InsurTech deals and funding nearly doubled, and funding reached an all-time high of $15.4B in 2021. At the same time, Mobility tech startups raised $23.4 billion in venture funding during Q4 2021 alone, an 81.9% YoY increase. Early signs show that growth continues to accelerate across these focus areas in 2022.
Embracing this growth trend, Avanta Studios welcomed three new companies to our program. Frigdio is a SaaS marketplace connecting shippers to refrigerated logistics on-demand. Otonomi is a blockchain-enabled parametric MGA platform that transforms cargo insurance policies into fast, cost-effective, and transparent digital products. And our third new company is Yada Data Studios which creates immersive data driven applications, including Yoyada for financial management.
This year also started with the Avanta Ventures team celebrating David Li and Pooja Shah being named two of this year's Global Corporate Venturing Top 50 Rising Stars! Global Corporate Venturing, the leading media publication and data provider serving the corporate venture capital industry, selected this year's winners from almost 20,000 industry professionals nominated by the heads of units and their peers. We are incredibly proud of David and Pooja's achievements.
As we continue to grow and scale our business in response to market investment trends, we are ready to welcome new members to our team. We are hiring a number of positions: Head of Avanta Studios, Business Development and Partnerships, Senior Associate, and Venture Associate Intern.
We are excited about what 2022 holds for our team, and our portfolio and Studios partners.
Avanta Ventures is the venture capital arm of CSAA Insurance Group. We provide deep insurance expertise, partnership, and financial investment to leading startups in Insurtech, Mobility, and Insurtech-Adjacent markets. Avanta Ventures typically invests in Seed and Series A companies with early market traction.
Avanta Studios is Avanta Ventures' startup accelerator that supports startups exploring new markets, business models, and technologies. The Avanta Studios program provides opportunities for startup companies in Insurtech, Mobility, and Insurtech-Adjacent markets to access guidance and resources accelerating their progress. Avanta Studios is a rolling admission-based program that provides a customized approach to helping startups reach key milestones and begin to scale. By joining the Avanta Studios community, companies gain valuable insights from well-established mentor relationships we have developed within the Insurance and Mobility ecosystems.