Insurtech Company, Foxquilt, Receives $3.5M Seed Round to Continue Supporting Small Businesses With Smarter Insurance Through COVID-19
CEO Insights team, Press Release
Foxquilt empowers small businesses and B2B networks to save on Business Insurance by leveraging their Insurance-as-a-Service platform and unique underwriting infrastructure. The company has recently partnered with multiple underwriting partners - enabling the company to become a full-service Insurance provider and creator of new products for small businesses.
"Receiving our $3.5M seed round allows us to move forward in transforming our insurance platform to become a full-service provider, so we can continue supporting small business owners through COVID-19 and beyond."
We are excited to further pursue our mission to become the leading Commercial Insurance Technology company in North America
says Mark Morissette, CEO and Co-Founder of Foxquilt. "Our group has hired nine additional team members across all functions in the past sixty days. We are excited to further pursue our mission to become the leading Commercial Insurance Technology company in North America."
Foxquilt offers simplicity, savings and new insurance products to business owners. Foxquilt's full-stack underwriting platform leverages smart data and machine intelligence, to discern the nature of the business, efficiently underwrite its risks and complement it with the right coverages. Their serverless micro-service architecture enables go-to-market speed while being ready to scale as their business grows.
The company's next step is becoming a full-service insurance provider with a self-serve platform - allowing customers to purchase policies online and amend policy features as their business changes. They will be introducing proprietary small business products in the coming months, as well as new distribution channels - including direct-to-consumer, B2B integrations and open APIs with select partners.