Insurance start-up Sure nabs $12.5m Series B from WR Berkley

New York-based insurance start-up Sure has raised an additional $12.5 million in a Series B funding round led by WR Berkley Corporation, bringing its total financing to $23.1 million.

The investment will enable the company to scale its digital platform and app, as well as further accelerate the growth and technological development of its APIs and insurance-as-a-service solution.

The start-up offers on-demand coverages like rideshare and mobility insurance and traditional property & casualty, accident & health, and commercial coverages like renters, travel, rental car, individual items, smartphones, and commercial BOP and liability.

Sure's $8 million Series A funding round was led by IA Capital, with contributions from Menlo Ventures, FF Venture Capital, Nationwide Ventures, Assurant, and AmTrust.

“Sure powers insurance programs for carriers and global consumer brands through our focus on creating innovative insurance experiences and delivering an end-to-end solution” said Wayne Slavin, co-founder and chief executive officer. “The funding by WR Berkley Corporation is a testament to our skill and overall ability to create value for insurers and customers unlike anyone else.”

Michael Nannizzi, director of investments, WR Berkley Corporation, said: “We’ve been providing insurance solutions for over half a century, through more than 50 Berkley companies, with deep expertise in a specific industry, product line, or geographic niche.

“Sure’s best in class technology platform is modernizing the way insurers offer insurance and the way consumers access it. We’re excited to both lead this funding round and to partner with SURE to develop innovative digital solutions to better serve our customers.”