Participated · Series A · Dec 2023

Mulberri is an AI-driven embedded business insurance platform that provides custom-fit insurance solutions to small and medium enterprises through deep partnerships in HR, benefits, and payroll channels. Its platform offers brokerage, risk transfer, certificate of insurance generation, risk engines, and SME-focused cyber insurance with fixed premiums and streamlined underwriting. The company operates an ecosystem that includes a joint venture, Violet Berri, with Vensure Employer Services and a partnership with Prism HR, giving access to more than 250 PEOs/payroll providers/brokers and roughly 100,000 SMEs; Prism HR serves more than 80,000 organizations. Founded in 2021 and based in Sunnyvale, Calif., Mulberri uses AI to simplify business insurance processes and address a historically fragmented SME insurance purchasing journey. The company notes that nearly $100 billion annually flows into the business insurance market and positions its products to capture SME opportunities. Mulberri plans to use new capital to expand its ecosystem of SME services and deepen distribution in HR and payroll channels. Mulberri is a business insurance platform purpose-built for PEOs and brokers that centralizes the process of buying, selling, and managing coverage. The platform provides smart submission intake, automated quote-and-bind, data-driven insurance management, protection and monitoring services, and integrations with HRIS and payroll systems. Mulberri says it leverages convolutional neural networks and data modeling to enable PEOs, brokers, and carriers to write business and make intelligent, data-driven decisions. Launched in 2021 and based in Sunnyvale, Calif., the company positions itself as the first business insurance solution designed specifically for PEOs and brokers. The firm will use the financing to expand its infrastructure and data modeling to make business insurance simpler, more efficient, and more transparent. Management highlights that the platform speeds client acquisition, optimizes PEO workflows, and provides risk analytics to help grow books of business.

Led · Equity · Nov 2023

Hadron is a hybrid insurer launched to help Managing General Underwriters (MGUs) accelerate growth by combining underwriting and portfolio-management technology with reliable, long-term insurance capacity. The company intends to offer capacity across all 50 US states and DC and to provide portfolio-wide reinsurance support. Hadron launched with an A- (Excellent) rating from AM Best in Financial Size Category VIII. It announced more than $250M in capital support from Altamont and other institutional investors to bring significant underwriting capacity to the program space. Founded earlier this year by industry veterans with insurance, operational, technology, and financial experience, Hadron works closely with MGUs and risk capital providers to design efficient capital and underwriting structures. The firm emphasizes disciplined underwriting, rapid paths to market, and long-term financial stability for specialty underwriting partners.

Led · Equity · Jul 2023

Augment launched as a bespoke reinsurance and risk-capital broker offering tailored solutions across geographies and product lines. The firm designs and places protections including prospective reinsurance, retrospective capital and legacy structures, with a focus on multi-class and multi-geography transactions to help partners manage volatility. Augment emphasizes broking the entire client rather than a single class of business, aiming to maximize enterprise value and establish long-term capital partnerships. The company positions itself to serve a wide range of clients globally, with stated operations tied to Miami and London. At launch, Augment has access to up to $100 million in funding from Altamont Capital Partners to support platform formation and growth. The firm intends to leverage this capital and Altamont’s platform-formation expertise to scale its bespoke reinsurance offerings.

Participated · Equity · Feb 2022

Founded in 2018, Accelerant operates a technology-enabled risk exchange designed to give niche, underwriting-led teams access to superior data analytics and dependable, multi-year capacity. The platform captures granular information on every policy, which it uses to deliver detailed insights and drive profitable growth for its specialist Members. Accelerant focuses on low-volatility commercial SME risks with minimal catastrophe or systemic exposure and has earned an AM Best A- (Excellent) rating. The company positions itself as an alternative to traditional reinsurance models by pairing its data capabilities with diversified capital sources. Recent initiatives include Flywheel Re, a new sidecar vehicle that will expand capital access for its Members. This effort signals Accelerant’s intent to scale its portfolio while maintaining low risk concentration. Although specific revenue or user metrics were not disclosed, the launch underscores the firm’s emphasis on capital efficiency and sustained growth.