Parsyl, Inc., a Denver, CO-based supply chain data platform, raised $15m in Series A funding.
The round was led by GLP and Ascot Group.
The company intends to use the funds to launch its insurance product suite in additional states in the coming months, advance industry specific product degradation algorithms and expand its team.
Parsyl is an IoT supply chain data platform that delivers cargo insurance solutions for shippers of perishable goods. Its combined hardware and software solution allows shippers to understand, mitigate and insure risks to goods as they move through the supply chain, both in transit and storage.
The company has also announced ColdCover™ by Parsyl Insurance, a suite of connected cargo insurance products for perishable goods powered by its IoT data platform, which gives shippers of perishable goods the coverage, predictability and protection they need for the largest risks to their products.
Parsyl is an approved Coverholder with Lloyd’s of London, and its policies are backed by Ascot Group. It is licensed to offer cargo insurance products in Alaska, California, Colorado, Louisiana, Maine, Massachusetts, Oregon, Texas, Virginia, Washington and the United Kingdom.