Vouch, a prominent provider of business insurance tailored for high-growth companies, has secured a notable $25m in its Series C-1 funding round.
The tranche was spearheaded by Ribbit Capital, a distinguished investor in the financial technology sector.
This funding milestone underscores Vouch’s robust business performance over the past year, showcasing a remarkable 66% year-over-year revenue growth and favourable loss ratio outcomes.
Vouch plans to utilise the newly raised capital to enhance its insurance product offerings, broaden its distribution channels, and further invest in its technology platform. The additional funding will fuel the company’s expansion efforts and enable it to continue innovating in the insurance space.
In 2023, the firm made significant strides in its reinsurance partnerships, expanding its panel from four to seven partners.
The company also launched AI Insurance, a groundbreaking coverage addressing emerging risks associated with artificial intelligence technologies. This innovative product aims to mitigate risks such as regulatory mistakes and intellectual property issues.
Sam Hodges, co-founder and CEO of Vouch, remarked, “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 – totalling 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.”
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