Digital Risks Raises £2.25 Million
London-based Digital Risks has raised £2.25m in an investment round led by Concentric, with participation from Atami Capital, Seedcamp, London Co-Investment Fund and Beazley. Founded in 2014 by Cameron Shearer, Ben Rose and Annabel Mekelenkamp, the company offers SMEs an online platform to buy and manage insurance. The funding round will help the company scale its marketing, triple its current team of eight employees, develop new insurance products and expand across Europe.
“The digital industries are growing at a phenomenal rate, as new technologies spark disruption across practically every business sector. Yet the commercial insurance industry has been characteristically slow to respond, leaving many tech startups and SMEs unable to protect themselves adequately. With Digital Risks, we’re making insurance work for digital businesses, with policies to cover for all the facets of what they do and structured in a way that gives them the convenience and flexibility to increase and change their cover whenever they need to.” – CEO of Digital Risks, Cameron Shearer.
“We’ve been looking for a suitable investment in the insurance space for a number of years, but it has been a hard space to crack, with few teams showing us that they have what it takes. Digital Risks has that rare combination of insurance know-how, technical understanding and the ability to execute, giving us the confidence that they will become the leading digital insurance brand in the years to come.” – Partner at Concentric, Denis Shafranik.