TrustLayer provides an AI-powered collaborative risk management platform that digitizes manual, paper-based insurance verification using robotic process automation (RPA) and AI. Its system automates verification of insurance and licenses for vendors, suppliers, borrowers and tenants. The solution serves supplier-driven sectors such as construction, banking, property management, and sports entertainment. TrustLayer is based in San Francisco, CA and is led by CEO John Fohr. The company intends to use the funds to expand operations and hire across sales, marketing, and engineering, and to develop a live digital proof of coverage solution and integrations with insurance carrier systems of record. It has piloted integrations with major carriers such as Liberty Mutual and Nationwide. TrustLayer builds an RPA-powered SaaS platform that automates verification of insurance, licenses, and compliance documents for vendors, subcontractors, suppliers, borrowers, tenants, ridesharing drivers and franchisees. It sells its software through insurance brokers or directly to companies and has traction in construction, property management, sports and hospitality. The company aims to partner with dozens of large brokers and carriers to create a digital, real-time proof-of-insurance solution across industries. TrustLayer will use new capital to hire sales, marketing and engineering staff and to team up with The Institutes RiskStream Collaborative and carriers to build out its digital proof-of-insurance offering. The startup says its platform reduces manual friction and helps address insurance fraud, and the seed round was heavily oversubscribed. It raised $6.6 million in a seed round backed by both venture investors and strategic insurance-industry participants.

Total raised

$22M

Funding rounds

2

Latest round

Series A

Latest activity

Aug 2021