Certificial, a Raleigh, NC-based insurance verification company that has created the Smart COI Network, raised $15M in funding.
The round was led by Nyca Partners, with participation from IA Capital, Fin Capital, Cofounders Capital, Cameron Ventures, and Nationwide Ventures.
The company intends to use the funds to expand operations audits business reach.
Led by Rob Blanchette and Pete Teresi, Certificial is the creator of the Smart COI Network. This network unites the risk management community across all industries through a Certificate of Insurance (COI) platform, transforming the insurance verification process using real-time data to ensure businesses have continuous, compliant coverage. The solution leverages its patented software to monitor insurance data in real-time and ensure businesses have continuous, compliant insurance coverage in their supply chain. The solution combines certificate issuance and compliance management into platform, eliminating risk, ensuring compliance, and reducing costs for every stakeholder in the certificate of insurance (COI) process – Insureds, Agents & Brokers, and Requestors.