Nationwide backs arqu

San Francisco-based wholesale insurance brokerage arqu has raised $10 million in Series A funding to enhance its capabilities in the Excess & Surplus (E&S) market.

The round was led by Crosslink Capital, with participation from Intact Ventures and existing investors Lightspeed Venture Partners, Foxe Capital, and Nationwide Ventures.

The funds will be used to expand into new industry verticals and accelerate product development. The company aims to leverage data and technology to support its broker teams in pre-underwriting and risk assessment, facilitating better outcomes for retail brokers and their clients.

Founded in 2020, arqu currently works with 20 of the largest retail brokerages.

Carrier partners include Chubb and PMA Companies.