arqu, a San Francisco, CA-based tech-enabled wholesale insurance brokerage company, raised $10M in Series A funding.
The round was led by Crosslink Capital with participation from Intact Ventures, with participation from Lightspeed Venture Partners, Foxe Capital and Nationwide Ventures.
Led by CEO Chi Lee, arqu is a tech-enabled wholesale insurance brokerage company operating in the $100 billion Excess and Surplus (E&S) market. From national property portfolios to large-scale loss schedules, arqu’s broker teams can analyze complex risks and place with greater insight and precision.
The company intends to use the funds to support expansion into new industry verticals and accelerate product development. With the Series A funding, arqu will grow beyond Construction and scale into Real Estate, Energy and Environmental near-term, with additional verticals targeted for 2025.
Commenting on the news, Chi Lee said: “We empower our broker teams with technology to provide unparalleled service to our retail brokerage customers and be the best pre-underwriting partners for our capacity providers. With the E&S segment on track for its seventh consecutive year of double-digit growth, we see data-driven broking as the key to managing large-scale commercial risks in an increasingly challenging world.”
FinSMEs
23/09/2024