Buddy builds software to make insurance products easier to transact on the internet, according to CEO and co‑founder Charles Merritt. The company focuses on online insurance transaction software for insurers and other product providers. A recent capital infusion increases its ability to continue product development and distribution. The report says the company raised US$7 million in the cited round from 49 investors. That raise brings Buddy’s total funding to US$8 million. No operating metrics (revenue/users) or future product roadmaps were disclosed in the article. Buddy offers on-demand supplemental accident insurance designed for outdoor enthusiasts, with policies purchasable for terms from a day up to a year and instant delivery for immediate coverage. Premiums range from $9.72 per day to $600 per year, with separate family and kids plans and benefit payouts paid directly to consumers. Policies are sold and serviced via API, mobile and desktop web, and chat, and Buddy’s platform uses proprietary software and natural language programming to unify customer, partner, and carrier data. Coverage includes most outdoor and adventure sports and benefits can be used for ambulance rides, urgent care, emergency surgeries, gear repair, missed work, or childcare. The company is operational in several states (including AZ, CO, KY, NC, OH, TN, TX) and emphasizes fast enrollment (coverage in less than three minutes). Buddy plans to expand nationally to all 50 states and scale partner integrations and retention marketing.

Total raised

$7M

Funding rounds

2

Latest round

Equity

Latest activity

Feb 2024