TrustLayer snares $15m to expand insurance verification platform

InsurTech firm TrustLayer has pulled in $15.1m from a Series A funding round led by Craft Ventures.

Alongside Craft, the round also saw participation from Abstract Ventures, NFP Ventures, Sure Ventures, Propel Venture Partners, Box Group and PruVen Capital. As part of the round, Craft Ventures COO Brian Murray will just the board of directors at TrustLayer.

Founded in 2018, TrustLayer is a collaborative risk management platform that helps reduce friction between businesses. The platform automates the verification of insurance, licenses, and compliance documents that customers may receive from their business partners

According to Carrier Management, the Florida-based business will use the newly raised funds on hiring, expansion and further product development. The publication also claims it expects the funding will also fuel further work on the company’s live digital proof of coverage product, as well as the integrations with a number of insurance carrier systems of record.

TrustLayer has highlighted that it is backed by 20 of the top 100 brokerages worldwide including Holmes Murphy, the Graham Company, BrokerTech Ventures and M3.

TrustLayer CEO and co-founder John Fohr said, “We are especially proud to have such significant backing from a top-tier SaaS fund like Craft Ventures as well as some of the top insurance brokers in the country, a tremendous industry validation for our technology. We look forward to continuing this momentum with the support of our investors.”

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