Participated · Seed · Aug 2021

Spot squeezes out savings and efficiencies in the accident-injury insurance industry to make coverage more affordable and easy to purchase for millennials. Founded in 2017 by Maria Goy and Matt Randall, the company initially focused on life insurance and relaunched in September 2019 to add medical injury insurance after interviewing 5,000 millennials. Spot sells directly to consumers and through strategic partnerships. The cofounders emphasize digitalization of backend operations as a core part of the product and service delivery. The company recently raised $17.5 million (including $15 million in equity and $2.5 million in debt). Spot plans to use the capital to grow the team, forge new partnerships, and ramp up marketing efforts. Life by Spot offers short-term life insurance policies sold through an online platform with instant approval. Policies range from one day to 30-day terms and start at $7, and are issued by Fidelity Life Association and reinsured by Hannover Life Reassurance Company of America. The company positions its product to reach adventurous customers and demographics underserved by traditional life insurers. Founders Matt Randall (CEO) and Maria Miller (COO, former New York Life executive) launched the business to provide on-the-spot coverage for short-duration activities. Life by Spot plans to use its new financing to develop product features and expand marketing efforts. The startup is Austin-based and emphasizes creating a new distribution channel for life coverage.

Participated · Equity · Jul 2021

Spot is an Austin, TX-based tech startup that offers on-demand accidental injury insurance via partnerships with businesses and organizations in the active lifestyle space. It provides affordable accidental injury coverage that can be used with or without traditional health insurance and covers customers' out-of-pocket medical bills. The policy has no insurance network restrictions and allows treatment at any licensed physician, hospital, or urgent care clinic. A dedicated claim advocate guides customers through the claims process to simplify and speed resolution. Spot partners with organizations such as Ikon Pass, USA Cycling, Chicago Triathlon (via LifeTime), USA BMX, Powder Mountain, National Collegiate Rugby, and athleteReg. The company raised $33M (including $25M in equity and $8M in debt) and plans to use the capital to ramp up its strategic partnership approach. Spot is a tech startup offering fully digital, on-demand subscription accidental injury insurance that can be used with or without traditional health coverage. Plans start at $25/month, cover actual medical costs up to $20,000 per injury, and customers can sign up in about one minute for immediate coverage. The company pioneered customized "on-the-mountain" and "on-the-bike" policies sold through partners and memberships. Spot distributes coverage via strategic partnerships with organizations and event providers, and tens of thousands of Americans are already covered, including professional athletes. The company is headquartered in Austin, Texas. Spot plans to use new capital to grow the team, forge new partnerships, and ramp up marketing to expand awareness and reach.

Participated · Debt Financing · May 2013

IO provides software-defined data center technology intended to lower the total cost of data center ownership for enterprises, governments and service providers. Led by George D. Slessman, CEO and Product Architect, the company offers infrastructure that deploys, provisions and optimizes data center capacity based on business, application and user needs. The platform can be delivered as a product — including IO.Anywhere modules deployable inside or outside existing data centers and IO.OS data center operating system software — or delivered as a service where IO deploys, operates and monitors the platform. Services include warranty, training, support, installation and integration. In May 2013 IO closed a $260m multi-year credit facility to support continued growth of operations. The company intends to use the facility to help expand and sustain its operational growth. IO designs, engineers and delivers modular data center infrastructure under the IO.Anywhere® brand that can be delivered as a Service or deployed as a product to customer sites. Its solutions target large enterprises, governments and service providers. The company emphasizes next-generation, transportable modular data center technology and related services. Led by CEO George D. Slessman, IO provides hardware and deployment capabilities for on-site and as-a-service models. IO intends to use recent funding to expand sales globally.