Stable Insurance, a Dallas and Fort Worth, TX-based insurtech startup, raised $3.3M in funding.
The round was led by MLTPLY with participation from Brooklyn Bridge Ventures and angel investors including Dave Delaney of Lancer Insurance, VJ Dowling of Dowling & Associates, Christopher Cavallaro and John McKenna from ARC Excess & Surplus, and Harry Campbell, founder of The Rideshare Guy.
The company intends to use the funds to Accelerate growth and expand operations.
Founded by Douglas Ver Mulm, Stephen Dekker, and John Salvucci, Stable Insurance is an insurtech startup using technology and new data sources to create fit-for-purpose insurance for owners of rideshare and carshare vehicles. Working with ILS Capital Management as its insurance partner, the company has automated large parts of the data collection, underwriting, administration, and claims processes. In addition to insurance, Stable offers tools and analytics, so owner operators and growing fleets can run their business more effectively. The analytics available on Stable’s dashboard offer a holistic view of risk levels and profitability metrics, allowing owners and operators to make better and more informed decisions.
Customers include owners or drivers of vehicles for income generation on a mobility platform, such as Uber, Turo, DoorDash, Amazon Delivery, and more.
FinSMEs
24/02/2022