Small business insurance software developer Coterie scores $11.5m round

Coterie, which aims to simplify small business insurance, has scored an additional $11.5m in its Series A round.

The round was led by Intact Ventures, with additional contributions coming from Alpha Edison, Lackawanna Insurance Group, a subsidiary of Group1001, RPM Ventures, Allos Ventures and several others.

Coterie previously raised $8.5m in its initial Series A round back in March 2020. The company has raised a total of $25m in equity.

The company uses data-driven automation to streamline the process of purchasing small business insurance.

Since the company raised its initial Series A tranche of funding, Coterie has teamed up with Intuit Quickbooks and Thryv to offer business insurance through their small business software.

The company also recently launched a solution to help independent agents and brokers sell and service small business insurance.

Intact Ventures senior vice president and managing director Karim Hirji said, “We’re excited to invest in Coterie and partner with David and his team in bringing simple to buy insurance products to the small businesses that need them.

“By either embedding its coverage options directly into the platforms that businesses already operate within, or by offering seamless binding capabilities to traditional agencies, Coterie helps out small business owners who need simple, timely, and affordable insurance coverage.”

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