Sypher raises $5.25 million

Sypher , a Florida-based (re)insurance and technology company focused on coastal property markets, has raised $5.25 million toward a $15 million equity offering, according to a recent Form D filing.

The filing marks Sypher’s second disclosed raise in the past two years. An earlier Form D shows $7.23 million sold toward a separate $20 million SAFE round launched in 2024, bringing Sypher’s combined reported fundraising activity to more than $12 million to date.

Founded in 2022, Sypher develops insurance, reinsurance, and analytics products for catastrophe-exposed property markets, with an emphasis on Florida. The company offers coastal homeowners programs (HO3/DP3), reinsurance structures, and an AI-enabled “Risk Co-Pilot” designed to support pricing, portfolio management, and exposure insights.

Sypher also operates Core Capital, its capital-efficient reinsurance structure, and Clear Cat, a reserving and post-event valuation framework aimed at addressing trapped capital.

The company reported $1 billion+ in ceded premium through Sypher-designed products since launch.

In 2024, Sypher secured a strategic partnership with the Florida Association of Insurance Agents (FAIA), which invested in the company as part of its independent-agent strategy. The partnership centers on building sustainable capacity for Florida’s property market through reinsurance alignment, program development, and AI-supported workflows for agents and carriers.