Mulberri, a Sunnyvale, CA-based provider of an AI-driven embedded business insurance platform for small and medium enterprises, raised $6.75M in Series A funding.
The round was led by Eos Venture Partners, with participation from existing investors Hanover Technology Management, MS&AD Ventures, and Altamont Capital Partners (via insurance enterprises in its portfolio). Zach Powell, General Partner of Eos Venture Partners, will join Mulberri as a board member.
The company intends to use the funds to expand its ecosystem of small and medium enterprise services in order to fulfill small businesses’ risk needs.
Founded in 2021 and led by CEO Hamesh Chawla, Mulberri provides custom-fit solutions for small and medium enterprises through partnerships in the HR, benefits, and payroll sectors and other affinity SME channels. Its platform offers an array of insurance solutions, including brokerage, risk transfer, certificate of insurance, and risk engines.
Mulberri’s services include:
Violet Berri: Violet Berri is a joint venture of Vensure Employer Services and Mulberri. It provides a business insurance marketplace customized for PEOs and ASOs through a partnership with Prism HR, a leading HR services firm that serves more than 80,000 organizations. Offerings span smart submission, marketplace, quote & bind, post-bind, risk engine, and COI.
Certificate of Insurance: Enables clients to request and generate COIs with a fully automated, self-service model.
Risk Engine: Equips workers compensation underwriters with the information necessary to make quick and accurate decisions.
Cyber Insurance: Empowers SMEs to access reasonable limit ($250 – $500k) cyber coverage with fixed premiums and streamlined underwriting to broaden accessibility in the small and medium enterprise segment.
Its ecosystem and partnerships enable access to more than 250 PEOs/payroll providers/brokers covering about 100,000 small & medium enterprises.
FinSMEs
07/12/2023