TrustLayer, a San Francisco, CA-based collaborative risk management
platform, completed a $6.6m seed round of financing.
The round was led by Abstract Ventures with participation from Propel Venture Partners, NFP Ventures, and Precursor Ventures, BrokerTech Ventures, Holmes Murphy, Heffernan, M3, NFP and Graham Company.
The company intends to use the funds to continue to scale operations and expand its sales and marketing efforts, develop its digital proof of coverage solution with The Institutes RiskStream Collaborative (a blockchain insurance consortium), and integrate with many insurance carrier systems of record.
Led by John Fohr, co-founder and CEO, TrustLayer is a collaborative risk management application allows companies to automate the verification of insurance, licenses, and compliance documents of their business partners (i.e., vendors, subcontractors, suppliers, borrowers, tenants, ridesharing and franchisees).
TrustLayer is also working with dozens of the largest brokers and carriers in the U.S. to build out a digital proof of insurance solution so companies will be able to automatically validate their business partners have the correct coverage.