Vouch Insurance expands coverage to New York
Vouch Insurance , the business insurance platform for startups, announced the expansion of its coverage into New York to bring risk mitigation to local startups as they scale their technologies within one of the leading US technology markets.
“New York is not just for digital media and fintech anymore. My experiences working with startups in New York taught me what it takes to thrive in one of the world’s most critical tech hubs, and showed me how New York’s startup diversity is its strength. Our goal is to help New York’s disruptive startups bend the risk curve by leading scaled-up, ethically-managed companies that are building for the future amid the challenges and opportunities ahead.” – Vouch CEO and Co-Founder, Sam Hodges.
Vouch’s expansion follows a $24.5 million series A round announced in September 2019 and a $45 million series B announced in November 2019. The company scaled its insurance coverage throughout 22 states in less than 12 months and expanded its offering to serve mature series B-level startups in July 2020. With this New York expansion, Vouch is now available to 91% of the venture-backed startup market nationwide.
Vouch underwrites proprietary coverage for startups of up to 150 employees and $75 million in capital raised. Its digitized underwriting platform and personalized approach to risk mitigation create a tailored package of insurance policies within 10 minutes and implementation within 24 hours (a sharp contrast from the average 60-90 day timeline of traditional insurers). Vouch’s coverages include Business Property, General Liability, Directors & Officers, Employment Practice Liability, and Cyber Coverage.
Policies are backed by Digital Partners, a Munich Re company. Vouch is also a preferred insurance provider for Silicon Valley Bank, and backed by Y Combinator Continuity.