Coterie, a Cincinnati, OH-based insurtech MGA company simplifying small business insurance, raised $27M in Growth funding.
The round was led by Hiscox as well as existing investors Intact Ventures, Weatherford Capital, and RPM Ventures among others.
The company intends to use the funds to expand its business reach.
Led by CEO David McFarland, Coterie Insurance operates in all 50 states and D.C. where it enables independent agents and brokers to write instant small business insurance. Empowered by data-backed underwriting, the company delivers accurate pricing and a submission-to-bind experience quickly.
Coterie, which has now raised over $102M in funding to date, continues to scale with revenue growing by over 200% in 2023. In addition, the company expanded its reinsurance panel in 2023, adding two leading reinsurance markets rated A or better by S&P Global.
FinSMEs
19/03/2024