Inclined Technologies, a digital platform specialising in unlocking the living benefits of whole life insurance policies, has closed an $8m Series B funding round.
The round was led by HSCM Ventures, with participation from Northwestern Mutual Future Ventures – the venture capital arm of Northwestern Mutual – as well as other new and existing backers, according to InsurTech Insights.
The deal values the firm above the $16.5m achieved in its Series A round in September 2022, underlining its rapid growth in the $5tn whole life insurance market.
Founded to address the cumbersome process of accessing cash value in whole life policies, Inclined uses proprietary technology to streamline the experience for advisors and policy owners.
Its platform allows advisors to offer a secured revolving line of credit, the Inclined Line of Credit (“iLOC”), which is collateralised by a policy’s cash value.
The process is fully digital, automated, and typically completed in under 15 minutes, enabling clients to access liquidity at competitive rates without fees.
The company said it will use the fresh capital to accelerate product development, broaden its carrier partnerships – including with Northwestern Mutual – and expand its reach.
It also plans to grow its team to support increased demand from whole life advisors nationwide.
Northwestern Mutual’s investment reflects a shared commitment to equipping both clients and financial professionals with modern, user-friendly financial tools.
“At Northwestern Mutual, our mission is to help Americans build financial security, including optimising the value of their whole life insurance policies,” Northwestern Mutual Future Ventures vice president of venture and corporate development Craig Schedler said. “Digital tools like Inclined’s platform provide the seamless, intuitive experience policy owners expect when managing their finances.”
Inclined CEO and co-founder Joshua Wyss said, “We have thousands of whole life advisors actively leveraging Inclined’s platform to better serve their clients, and that number is growing daily. This funding will accelerate new product features and help us expand partnerships with Northwestern Mutual and other top carriers to unlock the $1.1tn invested in whole life policies.”
The Series B follows Inclined’s $16.5m Series A raise in September 2022.
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