Counterpart, a Los Angeles, CA-based management liability insurtech company, raised $30M in Series B funding.
The round, which brought total capital raised to date to $40m, was led by Vy Capital, with participation from Valor Equity Partners, and Felicis Ventures.
The company intends to use the funds to expand its presence in the $20 billion private company management liability insurance market, scale its team and launch new products, including Crime and Excess insurance, in the coming months.
Led by CEO Tanner Hackett, Counterpart provides a management liability insurance platform which leverages a rating system to measure small business risk exposures. The company uses these insights to offer insurance products, broker tools and HR services to small businesses.
Counterpart’s network of appointed brokers already offer its three existing management liability products: Directors and Officers, Employment Practices, and Fiduciary. The company is also investing in its broker distribution partnerships to make management liability insurance more accessible to small businesses with the introduction of a new API platform.
FinSMEs
01/03/2022