Participated · Series B · Sep 2019

Bold Penguin provides commercial insurance technology focused on enhancing the human touch in commercial insurance and upgrading the user experience for agents. Its platform creates tools for agents and streamlines underwriting processes for carriers. The company’s technology is used to handle approximately 950,000 businesses. Co-founded in 2016 by Ben Clark and Ilya Bodner and based in Columbus, Ohio, Bold Penguin is focused on product improvements and enterprise adoption. It plans to accelerate engineering, add flexibility in how its core technology is leveraged by enterprise customers, expand in Excess and Surplus (E&S) Lines, and maintain the pace of admitted carrier integrations. Bold Penguin operates an API-first marketplace and technology platform that helps commercial property & casualty (P&C) insurance agents, brokers, and insurers find and write profitable small-business policies faster. Launched in 2016, the company offers APIs for clients to build user interfaces as well as a portal for traditional customers. In late 2017 Bold Penguin introduced Emperor, a recommendation engine that uses Marketplace data to better predict optimal placement of insurance risks. The platform serves partners ranging from Top 100 brokers to Main Street agencies. The company says the new financing will be used to accelerate insurance company integrations, expedite agent onboarding, and expand software engineering, DevOps, sales, support, and marketing teams. Bold Penguin is focused on shrinking quote-to-bind times to allow agents and carriers to process more volume and serve small-business clients more efficiently and profitably.