Coverager Games: Choose your Slice

Shortly after it was discovered that NYC-based Slice has raised another round of funding, and shortly after Coverager called out the startup’s stealthy behavior, the on-demand insurance startup is disclosing the details of its latest developments.

Here goes. It has raised $11.6M in a Series A round led by XL Innovate, with participation from Horizons Ventures, Munich Re / HSB Ventures, SOMPO, Plug and Play, and Tusk Ventures, bringing its total funding to date to $15.5M. Also, it’s now looking to offer its “On-Demand Digital Insurance Platform directly to large carriers globally”. And that right there, is an indication of its B2B strategy.

Here’s a look at their site traffic, according to Similar Web Pro:

And here’s a look at their Facebook Reviews page:

Read in the context of: “Since officially launching their first product offering to homeshare hosts (on platforms such as Airbnb and Homeaway) in October 2016, Slice has experienced double-digit monthly revenue growth and is now providing homeshare coverage in 26 states across the US, reaching over 70% of the US population, and 82% of the homeshare market.”

A Quick Timeline:

May 3, 2016: Slice Labs Adds Insurance Veteran Tom Hutton to Board of Directors (same Tom Hutton that’s now the interim CEO of SoFi). 

May 29, 2016: Slice Labs Raises $3.9M Seed Round Led by Horizons Ventures and XL Innovate.

July 11, 2016: Slice Labs Partners with Munich Re to Deliver On-Demand Insurance Products Globally.

Oct. 4, 2016: Slice Labs Announces Additional Funding from Munich Re / HSB Ventures.

Oct. 5, 2016: Slice Launches the First On-Demand Insurance Product in the US.

PS. Now I know what it feels like to be blocked.

PPS. Did you know? There’s another company by the name of Slice that’s also based in NYC, and has also raised close to $15.5M. It was launched in 2010 to offer a mobile app to order pizza. Choose your Slice.