Embroker offers a digital platform that simplifies commercial insurance purchasing and focuses on complex, industry-specific lines such as Directors & Officers, Employment Practices Liability, Cyber, and Professional Liability. It uses predictive modeling and proprietary technology to fully automate underwriting and create tailored policies and premiums. Embroker plans to become a full‑stack insurtech by building its own insurance carrier and is investing in Embroker Access to enable partner agencies and wholesalers to offer its products. The company reported strong operating metrics in 2021: surpassing $20M in gross written premium in Q1, achieving over 100% retention, growing its digital products more than 300% year-to-date, and earning an NPS of 77. All digital products are underwritten on Embroker’s platform and are backed by A+ rated reinsurers including Munich Re and Everest Re. Founded in 2015 and headquartered in San Francisco, Embroker has raised more than $140M to date and will use the new funding to accelerate system building and product expansion. Embroker offers an all-in-one digital insurance platform that provides instant underwriting, proprietary insurance policies, real-time claims tracking, and instant certificates of insurance. The company digitizes antiquated processes to deliver custom-built commercial policies from more than 50 carriers and provides data-driven guidance from industry-specialist advisors. Embroker serves growing businesses with 10 to 1,000 employees and reports more than 2,500 customer companies. In 2018 the company tripled revenue and was on track to more than double revenue again in 2019; it has provided more than $1B in liability coverage to technology companies in less than eight months. The platform generates an average of 20% cost savings for customers and the firm says it already works with over 5% of active VC-backed U.S. technology companies, aiming to exceed 10% by the end of 2019. Embroker is developing additional proprietary digital policies for a range of other industries and will use new capital to scale adoption of its insurance management platform and data-driven services. Embroker is a cloud-based risk and insurance management platform that uses its own software, data and predictive analytics to help businesses buy all types of commercial insurance. The platform lets users upload policies for free to benchmark coverage, recommends coverage and optimizes pricing, and automates insurance management processes. Embroker combines technology with a team of licensed professionals and partnerships with more than ten commercial carriers, including The Hartford and Travelers. The company is licensed in all 50 states, headquartered in San Francisco, and was founded in 2015. It has a team of 24 employees and emphasizes transparency and simplicity for SMBs that typically manage multiple policies via manual processes. Embroker positions its product as a way to save business owners time and money by improving coverage optimization and risk management.

Total raised

$140M

Funding rounds

4

Latest round

Series C

Latest activity

Jun 2021