Herald, a digital infrastructure that connects software developers to commercial insurance carriers through a single API, announced today that it has raised $8m in a funding round led by Lightspeed Venture Partners.
Underscore and Afore Capital also participated in the round, along with angel investors Garrett Koehn (president of brokerage, CRC Group), Rotem Iram (founder and CEO, At-Bay), and Charley Ma (general manager, Alloy) among others.
Herald builds digital infrastructure for commercial insurance. Developers who use Herald can get quotes from multiple commercial insurance carriers through a single API, as opposed to the traditional method of getting quotes through the manual process of emailing applications to underwriters.
The company has partnered with national and regional carriers along with InsurTechs, including Markel, CNA, At-Bay, Cowbell, Corvus, Atlantic Casualty, Century Surety, Coterie, and AmTrust, among others.
With this new funding, Herald said it will expand its product and engineering teams, scale support for additional lines of business, and accelerate integrations with its carrier partners.
Matthew Antoszyk, founder and CEO of Herald, said, “Insurance is a complex, fragmented, and highly-regulated financial service. We’ve seen company after company struggle to connect their technology to the insurance ecosystem on their own.
“Buying insurance is a major frustration for millions of small business owners. Our infrastructure powers the innovative insurance carriers and distributors that are solving this problem today.”
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