US-based specialty insurance data provider Rein has raised $7.3m in series A funding from a consortium including Liberty Mutual Strategic Ventures, the corporate venturing unit of insurer Liberty Mutual.
Other investors in the round included family office service investment partner Kiplin Capital and individual and family office investors Jason Griswold, Christopher Ellis, Bert Roberts, Steve Rabbitt and Anderson Bell.
Founded in 2015, Rein has created an online platform that analyses risk in emerging industries such as mobility, robotics and online ecosystems. It launched its first digital product last month to offer commercial tailored insurance coverage for unmanned aerial vehicle pilots.
Rein raised an undisclosed amount from unnamed investors in a 2016 seed round. In addition to being investors, Griswold and Rabbitt are also co-founders of the company.
Brendan Smyth, senior vice-president of global risk solutions at Liberty Mutual, said: “Understanding emerging technologies and seamlessly delivering innovative and comprehensive risk solutions to our customers is at the core of Liberty Mutual’s mission.”