Insurate, an Omaha, Neb.-based data science-based underwriter providing fair and transparent workers’ compensation solutions to high hazard small/mid-market companies, raised $4.5m in seed funding.
The round was led by HSCM Ventures, the venture capital arm of Hudson Structured Capital Management Ltd, with participation from Foundation Capital, Revolution’s Rise of the Rest Seed Fund, Clocktower Technology Ventures, Sure Ventures, and several angel investors, including independent agents and buyers of work comp. In conjunction with the funding, Adrian Jones, Partner at HSCM Ventures, joined Insurate’s Board of Directors.
Led by Joe McIlhon, CEO, Insurate is an insurance technology provider, wholesaler, and managing general agency that leverages data science to create new occupational insurance products for America’s industrial workforce. Through data science and predictive analytics, the company identifies businesses that are statistically safer than average, and rewards them with access to new products and savings
Insurate’s solutions are offered in partnership with Key Risk (a Berkley Company), Encova, and several additional work comp insurers.
FinSMEs
06/10/2021