Embroker Raises $100M Series C Financing
Gunderson Dettmer represented client Embroker, a digital business insurance platform, in its $100 million Series C financing led by FTV Capital with additional investment from HSCM Bermuda and Gaingels and follow on from Tola Capital, Canaan Partners, Bee Partners, and MassMutual Ventures. The company will use the new funding to expand into a full-stack insurtech by building its own insurance carrier.
In the announcement of the transaction, CEO of Embroker Matt Miller said, “For Embroker to truly forge a new approach to business insurance, we need to reimagine and rebuild every part of the process. Even as some of the surface-level elements of insurance have become increasingly customized and digitized, the underlying legacy systems and antiquated processes endemic to this industry are needlessly complex and require a substantial overhaul. This investment round will help us make business insurance a more streamlined and radically simple experience by accelerating our progress in building many of these systems from the ground up.”
The Gunderson deal team was led by Andy Bradley and included Julie Mahoney, Jessica Furr and Travis Glock.