Pie Insurance, a Washington DC-based provider of workers’ compensation insurance directly to small businesses, closed $11M in Series A funding.
The round was led by Greycroft, with participation from Aspect Ventures, as well as existing investors Sirius Group, Moxley Holdings, and Elefund.
The company intends to use the new funds to scale operations and to expand geographically, as workers’ compensation is a requirement for SMBs in every state except Texas.
Founded in May 2017, Pie Insurance leverages data analytics, online features, and a team of experts to offer insurance workers’ compensation insurance directly to small businesses.
The company built a full stack managing general agent (MGA) operation and already secured the regulatory approvals.
Insurance offered by Pie has earned an A rating from A.M. Best. Today, the company offers services to SMBs in eight states.