LuckyTruck, a tech-enabled retail insurance agent focused exclusively on trucking, has raised $2.4m in a seed extension.
The round was led by Candid Insurance Investors, an angel network of top P&C insurance industry CEO’s, this round brings LuckyTruck’s total funding to $6.5m.
Parker Beauchamp of Markd, an insurance focused venture capital firm, also made a significant contribution to the round.
Launched in 2019, LuckyTruck describes itself as a modern insurance platform for commercial trucking.
LuckyTruck said it has experienced unprecedented growth in 2022. The company’s team has grown from 25 employees in January to 60+ in October.
Further, the company has grown to 700+ active customers in just 4 short years.
LuckyTruck said it is the only retail agent that brings together all the essential pieces of the insurance purchase and management processes in one easy-to-use digital platform, leveraging data and automation to take the friction out of all aspects of the customer journey.
As a part of the raise, industry titan and former advisor/board member to LuckyTruck, Julie Zimmer, is joining the team as CEO. Julie brings over 30 years of experience in insurance and InsurTech, most recently, serving as Head of Insurance at Flexport. Prior, she served as chief operations officer at Embroker and ran HUB International’s middle market team globally.
She said, “I see LuckyTruck at the forefront of the digitization of commercial trucking insurance. The growth of the business under Devin’s leadership has been tremendous – I’m looking forward to building on his mission of taking the friction out of trucking insurance and providing a valuable service to the overall supply chain.”
With the additional funding and Zimmer on board, LuckyTruck added looking forward to advancing its digital insurance and financial solutions for the industry.
Earlier this year, Koffie Insurance, another InsurTech startup aimed at the trucking and transportation sector, collected $11m in its Series A.
Copyright © 2022 FinTech Global