Stable raises $60 million

Stable has closed a $60 million Series B funding round led by Acrew, bringing its total funding to $112.5 million. Additional investors include Greycroft, Notion Capital, Syngenta, and Continental Grain Company.

Founded in 2017, Stable is the creator of an index insurance product for food and farming businesses around the world that automatically reimburses lost income caused by volatile prices. Its data science platform enables the company to democratize access to ‘hedging’ for businesses of every sector and every size. The scalable platform is working with over 3,000 commodities in over 70 countries. In contrast to traditional insurance, the automated index-based solution means the business owner can get a quote in less than 2 minutes and any claims due are paid in less than 48 hours.

Stable will use the new funding to help clients understand and manage their price risk. New initiatives will see the aggregation of financial news via Stable Media, investment in the Stable Data product suite to visualize and assess the markets, and the development of Stable Risk from its current focus on options to offering clients swaps and collars.