Business insurance firm Vouch has raised $90m in new funding as well as bolstering its reach in the InsurTech market.
Following this and another recent financing round, Vouch has now secured a total of $160m in funding.
According to Reinsurance News, the rounds was supported by Redpoint Ventures, Ribbit Capital, Allegis Group, Sound Ventures, SiriusPoint and Silicon Valley Bank Capital.
Vouch has also recently established its own authorised insurance carrier alongside expanding its line of products. The company is now the preferred business insurance provider to Brex, WeWork and Carta customers.
Founded in 2018, Vouch provides next-day coverage for its customers, as well as protection engineering specifically for startups. Users are also offered expert guidance by the company through Zoom, chat, call or email features.
The company believes it has adapted business property insurance ‘for the modern, hybrid work environment’ with Work From Anywhere insurance. This coverage is able to insure up to $500,000 in limit per occurrence.
Vouch has also introduced broader cyber coverages for tech firms to help startup leaders make purchasing insurance more accessible.
Vouch co-founder and CEO Sam Hodges said, “Our recent rounds of funding ensure that Vouch can better serve startups. Today we are partnering with industry leading startups and innovators Brex, Carta, and WeWork to enable founders to scale their companies without worrying that their business coverage may fall short.
“How can we help founders worry less about their biggest risks and focus on driving the changes they want to see? It’s our responsibility to meet startup founders where they are, and give startups flexibility as they navigate changing laws, regulations, and the virtual and physical locations of their businesses.”
SiriusPoint COO and president of insurance and services Prashanth Gangu added, “Startups play a critical role in the U.S. economy and traditional insurers have struggled to underwrite these risks and offer solutions to meet the ever-changing needs in this space. We are delighted to support Vouch in providing comprehensive business insurance solutions to the startup sector.”
“We welcome Vouch to our growing portfolio of technology and customer focused partnerships driving disruptive change in the Insurance industry”.
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