TrustLayer Raises $6.6 Million in Seed Financing to Increase its Insurance coverage Verification and Compliance Platform

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SAN FRANCISCO, Feb. 2, 2021 /PRNewswire/ — TrustLayer, the collaborative danger administration platform, immediately introduced it has accomplished a $6.6 million seed spherical of financing. Summary Ventures led the spherical with participation from Propel Enterprise Companions, NFP Ventures, BoxGroup, and Precursor Ventures.  The spherical was closely oversubscribed, a mirrored image of the power of TrustLayer’s present compliance software program and its success in creating a digital proof of insurance coverage answer.

Twenty of the highest 100 insurance coverage companies within the U.S. in addition to their C-suite executives participated within the spherical. A few of these taking part companies embrace Holmes Murphy, Heffernan, M3, NFP and Graham Firm.

BrokerTech Ventures (BTV), a gaggle made up of 13 of probably the most revolutionary insurance coverage companies within the U.S. and 11 top-tier insurance coverage firms, can also be taking part within the seed spherical. This represents BTV’s first funding in a cohort member of their accelerator.

“We proceed to be impressed and inspired by the momentum and trade adoption of the TrustLayer expertise and danger administration platform,” mentioned Dan Keough, Chairman and CEO of Holmes Murphy and co-CEO of BrokerTech Ventures. “We view TrustLayer’s involvement in our inaugural BrokerTech Ventures Accelerator program as a catalyst for them to grow to be the data clearinghouse for the insurance coverage trade, and we’re delighted to be part of their capital elevate and continued success.”

TrustLayer will use the funding to scale operations to fulfill the calls for of its rising buyer base. The capital will even assist an enlargement of gross sales and advertising efforts, the event of its digital proof of protection answer with The Institutes RiskStream Collaborative (the most important blockchain insurance coverage consortium within the U.S.), and integrations with many insurance coverage provider techniques of document.

The seed financing comes after a formidable 12 months for TrustLayer that included appreciable progress in industries resembling building, property administration, sports activities and hospitality. TrustLayer additionally developed new industrial relationships with a number of of the highest 100 brokers and carriers within the U.S. Partnerships fashioned with insurance coverage and danger trade teams and networks resembling BrokerTech Ventures (BTV)The Institutes/RiskStream, Past Insurance coverage and MarshBerry, are additionally taking part in a big position in enlargement success. The following section of progress will contain fast scaling in new and present industries in addition to progress in direction of the imaginative and prescient of a real-time proof of insurance coverage answer for companies of all sizes, throughout all industries.

“We’re excited to again TrustLayer as they modernize the insurance coverage stack, beginning with compliance automation and digital proof of protection,” mentioned David Mort, Companion at Propel Enterprise Companions. “The client and investor curiosity from main brokerages validates TrustLayer’s method and we sit up for working with all to rework the way in which the insurance coverage trade shares data.”

“We’re honored to have the assist of so most of the high 100 insurance coverage brokers,” mentioned John Fohr, co-founder and CEO of TrustLayer. “Verification of insurance coverage and enterprise credentials is a ache level for hundreds of thousands of companies and calls for an answer that’s automated and safe.”

For extra data on TrustLayer, go to http://trustlayer.io

About TrustLayer
TrustLayer is a collaborative danger administration utility that helps scale back friction between companies. Firms can automate the verification of insurance coverage, licenses, and compliance paperwork of their enterprise companions (i.e., distributors, subcontractors, suppliers, debtors, tenants, ridesharing and franchisees).

TrustLayer can also be working with dozens of the most important brokers and carriers within the U.S. to construct out a digital proof of insurance coverage answer so firms will be capable of robotically validate their enterprise companions have the proper protection.

Media Contact:
Tana Rusitanonta
[email protected]

SOURCE TrustLayer

Associated Hyperlinks

https://trustlayer.io/

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