Authentic offers a tech-enabled platform that compresses the complexity of captive insurance, enabling partners to create their own captive programs with one line of code. Its product lets SaaS platforms, associations, and other communities offer tailored insurance products to their members. The company takes a fee to underwrite, handle claims, and manage capital markets and reinsurance for partner programs. Led by founder and CEO Cole Riccardi, Authentic serves small business groups and individuals through partner channels. The company raised $11M in Series A funding and plans to use the proceeds to expand operations and accelerate development efforts. No other financial metrics or past rounds were disclosed in the article. Authentic is a tech-enabled platform that lets vertical SaaS companies, franchises, associations, and other groups create captive insurance programs. Led by CEO and founder Cole Riccardi and based in New York City and Dayton, Ohio, the company handles the logistics of setting up captives, including legal domicile and administration. Its platform also manages underwriting tasks (rate filings, pricing, actuarial analysis), reinsurance and capital (reinsuring and capitalizing captives), plus claims management and customer servicing. Authentic has launched with initial customers and reports a waitlist of customers slated to launch throughout Q4 2023. It currently offers Business Owner’s Policy (BOP) coverage and is targeting businesses in food & beverage, salon & spa, retail, fitness, and professional services. The company intends to use the funds to expand operations and broaden its business reach.

Total raised

$17M

Funding rounds

2

Latest round

Series A

Latest activity

May 2024