arqu, a tech-enabled wholesale insurance brokerage, has raised $10m in a Series A financing round led by Crosslink Capital, with additional support from Intact Ventures.
Existing investors, including Lightspeed Venture Partners, Foxe Capital, and Nationwide Ventures, also participated in the round, according to FF News.
Specialising in large-scale and complex commercial risks, arqu operates within the $100bn Excess & Surplus (E&S) insurance market, transforming how risks are transacted.
The company leverages data and technology to arm its brokers with insights, aiming to redefine traditional wholesale insurance practices.
The fresh $10m funding will be used to fuel arqu’s expansion into new industry verticals and accelerate its product development efforts.
The company has recently launched portfolio-level analytics that allow its broker teams to assess complex risks more efficiently, helping them place policies with increased precision. These innovations enhance the ability to handle larger and more diversified risks, from national property portfolios to extensive loss schedules.
Chi Lee, co-founder and CEO of arqu, emphasised the company’s commitment to using technology to deliver top-tier service.
“We empower our broker teams with technology to provide unparalleled service to our retail brokerage customers and be the best pre-underwriting partners for our capacity providers. With the E&S segment on track for its seventh consecutive year of double-digit growth, we see data-driven broking as the key to managing large-scale commercial risks in an increasingly challenging world,” Lee said.
arqu, which now works with 20 of the largest retail brokerages in the US, has achieved its largest single insurance placement to date, involving multi-million-dollar premiums.
The company is on track for its biggest production quarter since its inception. Moving forward, arqu plans to expand beyond its current focus areas of Construction, Real Estate, Energy, and Environmental risks, with additional verticals set to be targeted in 2025.
David Silverman, general partner at Crosslink Capital, said, “arqu is not just building a better wholesaler, it is redefining how wholesalers operate and create value by making data and technology central to its approach and maximising the potential of its brokers.”
The company has seen previous backing from notable investors, with the current round marking a continuation of support from its existing backers.
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