Wednesday, November 9, 2022
HomeInsurance LawDigital insurance coverage company Glow raises $22.5m to drive development

Digital insurance coverage company Glow raises $22.5m to drive development

Glow, a US-based digital insurance coverage company, has raised $22.5m in a Sequence A funding spherical led by Cota Capital.

The spherical additionally noticed participation from AV8 Ventures, Markd, Startup Enterprise Capital, Maiden Re, amongst others.

Glow will use the funding to drive innovation in its insurance coverage platform, which automates the insurance coverage course of for small companies. 

The proceeds may even be used to increase in new states throughout the US and serve shoppers throughout extra verticals.

Glow makes use of know-how to analyse information and determine dangers of a enterprise to supply cost-effective insurance policies that match shoppers’ wants whereas making certain that the corporate’s protection is all the time updated. 

The insurtech platform gives all business insurance coverage options {that a} small enterprise wants by partnering with a number of insurance coverage suppliers. 

Moreover, Glow gives shoppers with a devoted account supervisor who understands the corporate’s enterprise and might be reached by way of cellphone or on-line. 

Cota Capital accomplice Ben Malka stated: “Small enterprise insurance coverage is a $100bn market, and it’s underserved and underinsured. Glow’s strategy has all the weather the trade must carry small companies into the brand new period of digital insurance coverage. 

“It gives the platform small companies are shifting towards. It’s consolidated and handy, and it helps the small enterprise backside line.”

Glow CEO and founder Samad Wahedi stated: “In case you are a small bakery, you need to know that your workers and your property are protected however your focus is baking. We use information and cutting-edge know-how to be sure to are all the time protected with the best protection so you may deal with constructing your enterprise.”



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