TrustLayer, a San Francisco, CA-based collaborative risk management platform, closed a $15.1m Series A funding round.
The round was led by Craft Ventures with participation from returning investors Abstract Ventures, Box Group, Propel Venture Partners, NFP Ventures, Sure Ventures, and new investor PruVen Capital. As part of the funding round, Brian Murray, Partner and COO at Craft Ventures, will join TrustLayer’s Board of Directors.
Led by John Fohr, CEO, TrustLayer provides an AI-powered collaborative risk management platform working to digitize the manual, and paper-based process of insurance verification. The system uses robotic process automation (RPA) and AI to automate the process of verifying the insurance and licenses of their vendors, suppliers, borrowers, and tenants. The solution serves players in supplier-driven sectors such as construction, banking, property management, and sports entertainment.
The company intends to use the funds to expand operations, hiring top talent across its sales, marketing, and engineering teams, and develop its live digital proof of coverage solution, and integrations with many insurance carrier systems of record, building upon pilots with major carriers such as Liberty Mutual, and Nationwide.