Huddle Raises $19.3M

Huddle, the Sydney-based insurance startup backed by Richard Enthoven, the majority owner of Hollard Group, has raised $19.3m in a Series A round, led by AirTree Ventures with participation from Hollard Insurance, Alium Capital and SevenWest Media.

Founded in 2016 and led by Jason Wilby and Jonathan Buck, Huddle has raised a total of $23.7m since launching and is a team of 11 according to LinkedIn. The company, which is a Certified B Corp, offers car, home and travel insurance used by “tens of thousands of members.”

“Insurance was originally all about people coming together to pool their risks — individuals that were disproportionately impacted by events they couldn’t control could trust that others would look out for them. But at some point in the last 200 years, insurance broke… and now the trust has disappeared. This is why Huddle’s mission resonated deeply with us: to use technology to bring trust back to the insurance industry.” – James Cameron, AirTree Ventures.

Bottom Line: after fixing the trust issue in insurance, Huddle should use their technology to fix Facebook’s trust issues as well.