Embroker, a San Francisco, CA-based property and casualty insurance technology platform, raised $12.2m in Series A funding.
The round was led by Canaan Partners with participation from Nyca Partners and XL Innovate, as well as prior investors Bee Partners, FinTech Collective, Vertical Venture Partners and 500 Startups. Silicon Valley Bank provided a new debt facility.
The company is using the funds to continue to expand operations.
Founded in 2015 and led by Matt Miller, CEO, and newly added VP of customer experience Tom DeMichael, Embroker provides a cloud-based risk and insurance management platform that uses its own software, data and predictive analytics to allow businesses to buy all types of commercial insurance.
In addition to its technology platform, The company has assembled a team of licensed professionals and partnered with ten leading commercial insurance carriers, including The Hartford and Travelers.
Embroker currently employs 24 people.