Spot, an Austin, TX-based tech startup offering on-demand injury insurance, raised $33m in funding.
This included $25m in equity and $8m in debt.
The round was led by Ensemble VC, with participation from Sozo Ventures and all existing investors. Collin West, Managing Partner at Ensemble VC, will be joining Spot’s Board of Directors, along with Zach Abrams, former Chief Product Officer of Brex, who will be joining as Spot’s first outside board member. Kevin Tsui will join the company as Chief Revenue Officer.
The company will use the new capital to ramp up their strategic partnership approach.
Spot partners with businesses and organizations across the active lifestyle space to cover their customers’ out-of-pocket medical bills, regardless of health insurance status. The company provides affordable accidental injury coverage, which can be used with or without traditional health insurance.
With Spot, customers can receive treatment at any licensed physician, hospital, or urgent care clinic. The policy works with or without traditional health insurance, and has no insurance network restrictions. A dedicated claim advocate is available to guide customers every step of the way—simplifying the experience so the claim can be resolved as quickly as possible.
Partners including Ikon Pass, USA Cycling, Chicago Triathlon (via LifeTime), USA BMX, Powder Mountain, National Collegiate Rugby, and athleteReg trust Spot to protect their communities.
FinSMEs
29/06/2022