INSUBCONTINENT EXCLUSIVE:
Ohio-based Coterie, a startup working on in the commercial insurance space, has announced today it has raised $8.5 million Series A
The company had previously raised a little over $3 million in early investments, bringing its equity capital raised to nearly $12 million to
date; the firm also told A Technology News Room that it has raised $2.5 million in available venture debt as part of its current round.In
an uncertain market, Coterie is better capitalized than it ever has been, thanks to Intercept, and The Hartford, and RPM Ventures , which
Nor is it akin to The Zebra, Policygenius, Gabi, or Insurify, helping consumers link to third-party insurance products
that have some commercial insurance requirement, or service customers who need commercial insurance, and we simply pass that information
liability insurance, along with business owners policies
Coterie has eyes on various types of data to power its model (and make good policy pricing choices), highlighting information like business
payment flows to vet company health, to pick an example.Coterie only started selling its products in September of 2019, but noted to A
But as Coterie noted in our call, insurance is a somewhat low-margin business, meaning that policy growth, while good, needs to be pretty
steep for the gross margin generated to stack up too high.But with $8.5 million in new equity capital and total access to over $10 million
in funds, the startup now has more money than ever to pursue its model
incorrect investor; it has since been corrected.
