Assurely, a U.S.-based insurtech that provides embedded insurance as a service, recently announced its closed its seed round, which was led by ATX Ventures. The company reported that the investment round brought its total funding to just more than $3.7 million.
Founded in 2016, Assurely describes itself as an insurtech company that creates and distributes insurance products for changing industries.
“Our technology drives a new model for insurance that supports the new and changing risks created by the fundamental changes in our economy and lives.”
Assurely further revealed it launched its first product, TigerMark, which is a directors and officers–like insurance program targeting the massive changes in how companies use technology and the internet to find investors and raise capital, primarily via the JOBS Act – Reg A, Reg CF and Reg D-506(c). The insurtech claims that no other insurance company is currently providing appropriate insurance for this market. Speaking about the investment, Chris Shonk, Co-Founder and Partner at ATX Ventures, stated:
“Assurely is absolutely the exact right team positioned at the exact right time to capture this market. ATX is thrilled to back such an exceptional and ambitious team to lead their debut institution round of funding.”
The investment round’s funds will enable Assurely to aggressively expand its technology infrastructure and to bring more products to market in record time. The company did not disclose the full amount raised through the round.