Vouch, a San Francisco, CA-based provider of business insurance for high-growth companies, raised $25M in Series C-1 funding.
The round was led by Ribbit Capital.
The company intends to use the funds to expand operations and development efforts.
Led by CEO Sam Hodges, Vouch is a provider of business insurance to high-growth companies. Since its inception in 2018, the company has empowered clients to get risk management right through niche expertise, a proprietary approach to pricing and underwriting, digital-first procurement and coverages that scale as a company grows.
In 2023, Vouch also increased its reinsurance panel from four to seven partners and accelerated its pace of insurance innovation, including the launch of AI Insurance, a coverage that mitigates nascent AI risks including LLM hallucinations, regulatory mistakes and intellectual property issues. In addition, it provides Vouch Horizon, a solution dedicated to scale-stage startups.
Vouch has invested in its team, adding over 70 employees since 2022. Additionally, the company strengthened its leadership with strategic appointments, including Jared Klee as Head of Sales (previously of IBM Watson), Clark Kays as Head of Demand Generation (formerly of Marsh McLennan), Suzanne Robinson as Head of Claims (formerly of Travelers), Meg Glenn as Head of Actuarial (formerly of Clear Blue) and Mike Gorlin as Head of Underwriting (formerly of Zurich).
Commenting on the news, Sam Hodges said: “2023 was a landmark year for Vouch, driven by our team’s dedication and our investors’ belief in our mission. I’m proud that we’re one of the few companies in our market that has achieved our goals despite industry headwinds, balancing pursuit of our big vision with strong business performance. And most importantly, we’ve been there when our clients need us most, successfully resolving hundreds of claims – many of which are complex and potentially company-limiting – totaling many millions of dollars. This additional equity funding enables us to expand our insurance product set and distribution channels and also to continue investing in our technology platform.”
Other backers in the company included Redpoint Ventures, Y Combinator, Allegis, Anthemis and MS&AD Ventures.
FinSMEs
11/03/2024