TLDR
- Authentic, an insurtech startup based in NYC, raised $11M in Series A funding.
- The funding round was led by FirstMark Capital.
Authentic, a NYC-based insurtech startup, recently secured $11M in Series A funding. The funding round was led by FirstMark Capital, with participation from Slow Ventures, Altai Ventures, MGV, Upper90, and Commerce Ventures. The company, led by Founder & CEO Cole Riccardi, aims to make it easier for SaaS platforms and franchisors to offer captive insurance policies to their SMB customers. Authentic enables SaaS platforms, associations, and other communities to create their own captive insurance programs through a tech-enabled platform that simplifies the complexities of captive insurance. Partners can offer their own insurance product with just one line of code, tailored to their community members. Authentic takes a fee to underwrite, handle claims, and manage capital markets & reinsurance for programs. The funding will be used to expand operations and further develop the platform.
