Counterpart, a management liability insurance platform, has bagged $10m in funding, which will help it to grow its team.
The round was led by Valor Equity Partners, with participation also coming from Susa Ventures and Felicis Ventures.
With the capital injection, the company is looking to expand its broker partnerships, enhance risk mitigation tools and expand its team size.
Following a successful private launch, the InsurTech is inviting all wholesale brokers to join its platform.
Counterpart offers an insurance platform that pairs data and technology with management liability coverage.
Investment into the InsurTech sector has been steadily growing over the past five years. Total global funding in the sector reached new heights in 2020, hitting $6.2bn deployed across 323 deals.
The sector has grown at a CAGR of 38.4% since 2016.
Copyright © 2021 FinTech Global
