Neptune Flood, a St. Petersburg, FL-based digital insurtech platform and private flood insurance provider, received an investment from Regal Sagemount and FTV Capital.
Sagemount and FTV will acquire a substantial minority stake in the company, with Neptune CEO and management maintaining majority ownership. Financial terms of the deal were not disclosed.
The company intends to use the funds to accelerate its growth plans and expand its customer base while continuing to enhance its technology platform and develop new products.
Led by Trevor Burgess, President ad CEO, Neptune Flood provides flood insurance policies to over 150,000 homeowners, renters, and businesses in 48 states and Washington, D.C. The company offers a digital platform that enables insurance agents and customers to obtain coverage in minutes. Its proprietary AI platform, Triton, instantly assesses flood risk on a property-by-property basis, allowing the company to provide an accurate assessment of risk, personalize pricing for customers, and offer competitive premiums.
With this growth investment, Blair Greenberg, Partner at Sagemount, and Mike Vostrizansky, Partner at FTV, will join Neptune’s board of directors.
FinSMEs
11/05/2023