Mulberri raises $6.75 million

Embedded insurance startup Mulberri announced $6.75 million in Series A funding led by Eos Venture Partners, with participation from Hanover Technology Management, MS&AD Ventures, and Altamont Capital Partners.

Founded in 2021, Mulberri’s platform enables HR, benefits and payroll providers to offer a variety of insurance products to their SMB customers. Some of the coverages being offered include workers’ comp, cyber, and BOP.

The startup claims that its ecosystem and partnerships enable access to more than 250 PEOs/payroll providers/brokers covering about 100k businesses.

“Our mission is to help small enterprises make data-driven risk management decisions and fulfill these needs simply, efficiently, and transparently. Our partnerships in the HR and Payroll sector connect us with SMEs at critical points in their business lifecycle, allowing us to provide the right risk solutions at the right time. We’re thrilled to partner with Eos on the next phase of our growth.” – Hamesh Chawla, co-founder, and CEO at Mulberri.

“The insurance industry has always been challenged to adequately serve the small enterprise customer. We believe with Mulberri’s highly unique distribution channel, trusted partnerships in the payroll / HR benefits sector, and evolving product portfolio puts the company at the forefront of change in the SME sector.” – Zach Powell, general partner at Eos.