Digital Risks operates an online platform that enables small and medium-sized businesses to buy and manage insurance. The company partners with established underwriters: Aviva for general liability, select underwriters at Lloyd’s for cyber insurance, and DAS for legal expense cover. It announced a partnership with Starling Bank that provided access to 65,000 business account holders. The business was established in 2014 and has a team of 31. At some point it rebranded and positions itself as modernising business insurance for SMEs. The company recently raised $10.4 million in a Series A to support continued growth across the UK. Digital Risks offers a subscription-based, digital-first insurance platform that automates the entire process of buying and managing insurance for technology and media businesses. Its proprietary software evaluates risks individually and places cover with the most suitable underwriter rather than acting as a simple price-comparison service. Customers can pay monthly and modify or cancel cover at any time. Its products are backed by underwriters including Aviva, Tokio Marine and Beazley. The company serves startups across software development, IT services, media and new technology sub-sectors such as fintech, medtech and edtech. Management plans to use the new funding to scale marketing, triple the team, develop new online insurance products and begin international expansion into Europe within the next 12 months.

Total raised

$13M

Funding rounds

2

Latest round

Series A

Latest activity

Feb 2020