Atlanta-based InsurTech startup Sola Insurance as successfully closed its seed funding round, raising $3.7m.
The round was led by FINTOP Capital, with additional participation from Overline, 10vc, Karuna VC, and prominent figures in the insurance sector, according to the Coverager.
Founded in 2022, Sola aims to reduce out-of-pocket expenses for homeowners with high deductibles.
The company leverages partnerships with leading firms, including Tokio Marine Kiln, Canopy Weather, Crawford & Company, Spinnaker, and Costero Brokers, to deliver its services.
Sola’s platform uses advanced weather data and automated claims processing to ensure fast payouts, often within days. Its offerings include tornado coverage and a Wind and Hail Crisis Policy, which provides compensation when severe weather events such as significant wind or hail cause major property damage.
Currently, its tornado coverage is available to homeowners in states including Alabama, Georgia, Illinois, Texas, and others.
The funds raised will support the company in expanding its product offerings, enhancing its technology, and reaching more homeowners in need of specialised weather-related insurance coverage.
“At Sola, we are building a lifeline for homeowners who have incredibly high premiums and deductibles. With our new wind and hail product, we’re tackling these challenges head-on and delivering much needed relief to more homeowners,” Sola co-founder and CEO Wesley Pergament said.
To date, Sola has raised $3.7m in total funding.
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