TrustLayer raises $6M seed to end up being the ‘Carta for insurance’
TrustLayer, which provides insurance brokers with threat management services through a SaaS platform, has raised $6.6 million in a seed round. Abstract Ventures led the funding, which also included involvement from Propel Endeavor Partners, NFP Ventures, BoxGroup and Precursor Ventures. Remarkably, the start-up also got some market validation in the way of investors. Twenty of […] BrokerTech Ventures (BTV), a group consisting of 13 tech-focused insurance coverage firms in the U.S. and 11 “top-tier” insurance coverage business, also invested in TrustLayer. TrustLayer co-founder and CEO John Fohr said the company was established on the premise that verification of insurance coverage and organization qualifications is a significant pain point for millions of services. To assist fix the issue, San Francisco-based TrustLayer has utilized robotic procedure automation (RPA) to develop out what it explains as an automated and safe way for companies to verify insurance coverage. TrustLayer states that companies that use its platform can automate the verification of insurance, licenses and compliance documents of company partners such as vendors, subcontractors, suppliers, borrowers, renters, ridesharing and franchisees. …
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