Participated · Seed · Sep 2023

Delos Insurance Solutions is a managing general agent that uses satellite imagery, wildfire science, and machine learning to identify and insure homes deemed insurable within wildfire-exposed territories. The company offers policies on behalf of AM Best 'A' rated carriers and was founded in San Francisco in 2017 by aerospace engineers. Delos currently writes $40 billion in total insurance value and reports market-leading loss ratios and better-than-planned growth. Its proprietary technology pinpoints properties with lower risk of loss, allowing access to insurance in areas other carriers have abandoned. The team plans to expand geographically outside California and to develop new products to broaden affordable insurance availability. Recent industry recognition includes MGA/MGU of the Year by Insurance Insider US and a spot on CB Insights' Top 100 Global Fintech Companies for 2024. Delos Insurance Solutions provides technology that uses satellite imagery and artificial intelligence to identify insurable homes in territories other insurers avoid because of wildfire risk. Its platform aggregates and analyzes exposure and concentration data to quantify a home’s actual wildfire risk. The company is enabled by a proprietary geospatial AI algorithm and more than two hundred data layer inputs, including detailed weather, wind, drought, and vegetation overlays. Delos vertically integrates its wildfire science expertise and a full suite of wildfire models to pinpoint lower-risk properties within stressed areas. Led by CEO Kevin Stein and based in San Francisco, the company raised a $7.3M seed extension to support growth. It intends to use the funds to expand across the California homeowners’ insurance market.

Led · Series A · Aug 2023

Companion Protect is a national B2B2C pet insurance and wellness program administrator that leverages its PALS® technology platform to provide fully branded, customized pet insurance and wellness experiences. The company offers white‑label pet health products and administers programs for insurers, retailers, affinity groups, shelters, and other channel partners. It has launched and grown programs for Liberty Mutual, Safeco, and CSAA Insurance Group and recently contracted with another Top 5 insurer to launch a new pet insurance program. Companion Protect closed a $20.25 million Series A extension from its Series A investors following a $27 million Series A in 2023. Proceeds from the extension will fund product and partner expansion and digital innovation to enhance the customer experience. The company is privately held and headquartered in the greater Kansas City area. Companion Protect is a national B2B2C pet insurance and pet wellness program administrator headquartered in the greater Kansas City area (Leawood, Kan.). The company leverages its PALS® platform to provide insurers and pet owners with a seamless, user-friendly pet insurance and wellness experience. It runs programs for property and casualty insurers, employee benefits providers, retail channels, affinity partners, and animal welfare organizations. Companion Protect has launched pet insurance programs for Liberty Mutual, Safeco, and CSAA Insurance Group and is building programs for animal shelters, rescues, and shelter software providers. Several additional program launches are slated for late-2023 and beyond across retail, employee benefits, and traditional property and casualty channels. The company is privately held and intends to use new capital to fund product and partner expansion and digital innovation in claims processing to enhance the customer experience.

Participated · Seed · Jul 2023

Exponential Markets creates a series of financial instruments and derivatives that settle against Exponential-powered indices to offer financial protection for participants across a variety of asset classes. The company leverages datasets to design tradable instruments targeting asset classes that lack effective risk-management tools. Led by CEO Ryan Naughton, Exponential is focused on building tools that allow hedgers to offset exposure to adverse price movements. The firm intends to use the latest funding to further develop risk-mitigation tools for the automotive ecosystem. Financially, the company’s most recent seed round and strategic investment brought total capital raised to over $10M. The articles do not disclose revenue or other operating metrics. Exponential Exchange, led by CEO Ryan Naughton, is creating a series of financial instruments and indices designed to offer new levels of financial protection for participants in various asset classes. Its initial product, the Exponential Used Vehicle Index, tracks used vehicle values using data sets and modern data science techniques. The company’s tools aim to let hedgers offset exposure to adverse price movements via derivatives that settle against Exponential-powered indices. Exponential targets customers such as rental car companies, auto insurers, and auto lessors to enable transfer of their financial exposure to other market participants. The firm plans to pilot multiple over-the-counter (OTC) transactions while building infrastructure required for exchange-traded futures. Financially, Exponential closed a Seed round that brought its total capital raised to $8.8M. Exponential Exchange is building a suite of market-based risk-management products using modern datasets and data science techniques. Its launch product is an exchange-traded derivative designed to manage fluctuating used-vehicle prices, aimed at large vehicle owners such as rental agencies and auto lease finance companies. The company is also developing automotive futures contracts that, subject to regulatory approval and listing on a designated contract market, would create a new tradable asset class for auto-related exposures. Led by CEO Ryan Naughton, Exponential Exchange intends to use recent funding to accelerate growth and expand operations. The startup is focused on offering efficient derivatives contracts to help financial markets and institutions better manage both traditional and emerging sources of risk.

Participated · Seed · Mar 2023

AccuKnox offers a Zero Trust Cloud Native Application Protection Platform (CNAPP) built on its KubeArmor CNCF open-source project. The integrated platform combines CSPM/KSPM and CWPP and provides static and run-time security, automated vulnerability prioritization, and in-line run-time mitigation. It supports public clouds (AWS, Azure, GCP, Oracle), private clouds (OpenShift, VMware), Kubernetes, virtual machines and bare metal, and is delivered in a shift-left DevSecOps model. AccuKnox developed its core technology in partnership with SRI International and said its technology is anchored on patented inventions in container security, network security, anomaly detection, and data provenance. KubeArmor has more than 400,000 downloads and is growing at 50% quarter-over-quarter. The company’s roadmap includes ServiceMesh, Edge/IoT and 5G workload support, and it is using funding to expand go-to-market and R&D efforts. AccuKnox is available in general release. AccuKnox builds a Zero Trust run-time Kubernetes security platform that leverages an identity-driven approach and the team’s open-source project KubeArmor. Its technology is anchored on patented innovations in container security, unsupervised learning and data provenance developed at Stanford Research Institute. The company leverages foundational open-source platforms such as eBPF, SPIFFE, OPA and Kyverno to deliver security enforcement using Linux Security Module (LSM) technologies. AccuKnox provides a comprehensive security, compliance and governance platform for public and private clouds. The company closed a $4.6M seed financing to expand the engineering team and to prepare to deliver on open source and commercial offerings before the end of this year. AccuKnox is based in Menlo Park, CA and was founded by Asif Ali, Nat Natraj, Rahul Jadhav and Phil Porras.

Participated · Equity · Mar 2023

Overhaul provides an in-transit supply chain risk management platform purpose-built to manage in-transit inventory and protect high-value, time-sensitive, and temperature-controlled shipments. The platform combines real-time data, contextual intelligence, and actionable alerts to prevent disruption or loss. Overhaul serves industries including pharmaceuticals, healthcare, technology, logistics, automotive, consumer, and food and beverage, and is used by Fortune 100 companies. Customers named in the article include Microsoft, Bristol Myers Squibb, CEVA Logistics, and Arvato. The company recently acquired FreightVerify, adding item-level tracking and inventory intelligence to its platform. Overhaul intends to use the new capital to expand operations and its development efforts; it also closed a new debt facility with MidCap Financial. Overhaul builds software that tracks goods in the physical supply chain, using telemetry and AI models trained on in-transit and contextual data to detect at-risk shipments and alert global security operations. The platform also reports on product quality and compliance while in transit and surfaces potential cost savings. Founders Barry Conlon and David Broe started Overhaul after selling their prior company, FreightWatch, and applying those learnings to cargo visibility and security. Overhaul serves roughly 350 customers, including Microsoft, Dyson, and Bristol Myers Squibb, and has expanded offerings such as new apps, an "intelligence as a service" product, a cargo insurance program, and a cold-chain quality solution for pharma and F&B. The company faces competition from Tive, Altana, Project44, and FourKites. Overhaul is Austin-based and has a roughly 600-person team. Overhaul is a device-agnostic, software-based supply-chain visibility, risk, compliance, and insurance solution used by major brands. Founded in 2016 and headquartered in Austin, Texas, the company converts real-time visibility into risk management, compliance, and insurance workflows. Customers include Microsoft and Bristol Myers Squibb, and Overhaul serves Fortune 100 companies moving freight globally across industries. It operates globally with more than 600 employees and is expected to track over $1 trillion in total moving cargo this year. The company has received recognition such as Inc. 5000, Deloitte Technology Fast 500, and was named a Challenger on Gartner's Magic Quadrant for Real-Time Transportation Visibility Platforms. Overhaul plans to expand globally, enhance its product suite, and integrate recent acquisitions such as security services provider SensiGuard to bolster its in-transit risk management offering. Overhaul Group is an Austin, Texas-based supply chain integrity solutions provider led by CEO Barry Conlon. The company provides an end-to-end platform that connects disparate data sources into a transparent situational analysis engine for the logistics industry. Its technology transforms data into insights that can instantly trigger corrective actions affecting temperature control, handling requirements, and package-level tracking. Overhaul currently serves global brand customers in pharmaceuticals, electronics, transportation and food and aspires to expand beyond these core sectors. The company raised $7M in funding and plans to use the proceeds to continue large-scale growth with shippers and invest in its supply chain technology.