Embroker
| Private | |
| ISIN | 🆔 |
| Industry | Insurance |
| Founded 📆 | April 26, 2015 in California, USA |
| Founder 👔 | Matt Miller |
| Headquarters 🏙️ | , , USA |
Area served 🗺️ | North America |
| Members | |
Number of employees | |
| 🌐 Website | embroker |
| 📇 Address | |
| 📞 telephone | |
Embroker is a digital business insurance platform based in San Francisco, California.
About[edit]
Embroker uses its proprietary software and predictive analytics, for simplifying the purchase and management of digital insurance policies through its online platform.
Embroker has received funding from leading Fintech and Insurtech investors.[1][2]
History[edit]
Embroker was founded by Matt Miller in 2015.
In 2018 Embroker launched its first insurance products, Directors & Officers, Employment Practices Liability, and Fiduciary liability, with Munich Re.
Funding and expansion[edit]
According to CrunchBase Embroker has received 142.4 million in funding so far. Embroker received its first round of funding $2.2M in July 2015 and raised $12.2 Million in April 2016.[3] When the company was founded in 2015 it had only its headquarter office in San Francisco. With the new funding the company opened offices in Boston and Chicago in 2016.[3][4] In April 2019 Embroker raised $28 million.[5][6][7][8]
In June 2021 the company raised $100 million from a Series C funding round.[9]
Business Model[edit]
Embroker targets companies with 1 to 1,000 employees by offering customized digital insurance products.[10]
Business Performance[edit]
As of December 2021 the company has over 8,000 customers and surpassed $100M in premium run rate.[11] As of 2022 the company has 177 employees and 22 investors with latest deal amount of $100m.[12]
Awards and recognitions[edit]
In 2021 Inc. 5000 called Embroker “the fastest-growing private insur-tech in the US.”[13]
References[edit]
- ↑ Chernova, Yuliya (2016-05-17). "Investors in Insurance Broker Embroker Mind Lessons from Zenefits". Wall Street Journal. ISSN 0099-9660. Retrieved 2022-05-12.
- ↑ https://www.ibm.com/downloads/cas/YOZQZONE
- ↑ 3.0 3.1 "Embroker Secures $12.2 Million in Funding to Transform Risk and Insurance Management for Businesses". www.businesswire.com. 2016-05-17. Retrieved 2022-05-12.
- ↑ "San Francisco insurance startup Embroker to open Chicago office, hire 10". Chicago Tribune. Retrieved 2022-05-12.
- ↑ "Tech roundup: Sam Yagen brings ShopRunner to Chicago, tons of funding, and more | Built In Chicago". www.builtinchicago.org. Retrieved 2022-05-12.
- ↑ "Embroker raises $28 million to help businesses find the right insurance policies". VentureBeat. 2019-04-09. Retrieved 2022-05-12.
- ↑ "Embroker Raises $28M to Continue the Digital Transformation of Commercial Insurance". Bloomberg.com. 2019-04-16. Retrieved 2022-05-12.
- ↑ April 17, Published; 2019. "Embroker raises $28M led by Tola Capital to grow digital insurance platform | Payments Dive". www.paymentsdive.com. Retrieved 2022-05-12.
- ↑ danwillis. "Embroker secures $100m Series C to expand business insurance offering". Retrieved 2022-05-12.
- ↑ Wyman, Oliver. "Interview: Matt Miller, Embroker". insurtech.oliverwyman.com. Retrieved 2022-05-12.
- ↑ "Business Insurance Leader Embroker Announces Key Revenue, Customer, and Leadership Milestones for 2021". www.businesswire.com. 2021-12-16. Retrieved 2022-05-12.
- ↑ "Embroker Company Profile: Valuation & Investors | PitchBook". pitchbook.com. Retrieved 2022-05-12.
- ↑ "How Embroker Completely Changed Their Workday Using Nooks". www.nooks.in. Retrieved 2022-05-12.
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