Loop makes additional cuts and pauses advertising

Based on information obtained by Coverager, Loop Insurance has made additional cuts which impacted a low single-digit number of employees.

One notable employee who was let go is head of insurance Jonathan Seibold, who joined Loop from Metromile in March 2022.

The startup has also paused advertising recently and its equity program for independent agents, which was announced in July, has garnered some interest but agents are not producing sales at this point.

Loop, which closed a $21 million Series A round in September 2021, was able to secure a bridge round. The startup currently employs 25-30 employees and serves around 10k policyholders.