Frontier Risk raises $3 million
Frontier Risk, a digital broker dedicated to the cannabis sector, announced the closing of its Seed financing round, bringing together venture investors from the cannabis and insurance sectors “to build the first tech-enabled insurance ecosystem to better service cannabis risk.” The round was led by Snoop Dogg’s Casa Verde, with participation from Euclid VC, Inter-Atlantic Capital Group, and Bruce Macfarlane. According to a report by Axios, Frontier Risk raised $3.1 million.
Frontier Risk is led by James Whitcomb, the former CEO of Parallel, a cannabis company operating dispensaries in several states. It offers a variety of coverages for cannabis companies and its team includes former employees of Intact, Munich Re, and Embroker.
“We are thrilled to partner with Casa Verde and this leading consortium of insurance and technology investors to expand our platform across an industry in desperate need of a solution. This capital, alongside the deep expertise of these investors, further positions Frontier Risk to pioneer innovative risk management solutions for cannabis and other breakthrough industries in alternative wellness.” – Frontier Risk founder and CEO James Whitcomb.