Vouch, the US-based operator of an online business insurance platform, has reeled in $90m of funding across two rounds from investors including human resources provider Allegis Group and reinsurance provider SiriusPoint.
The rounds consisted of a $60m series C co-led by SVB Capital, a vehicle for SVB Financial Group’s Silicon Valley Bank unit, and Ribbit Capital and a $30m series B1 round led by Redpoint Ventures, according to TechCrunch.
Both rounds featured Allegis, SiriusPoint, SVB Capital, Ribbit Capital, Redpoint Ventures and Sound Ventures, and the series C reportedly valued the business at $550m.
Founded in 2018, Vouch runs an online insurance platform for small businesses that offers products including policies for business founders, property and cyberattacks.
The company has provided its services to enterprise customers such as financial services provider Brex, equity management software developer Carta and co-working space operator WeWork.
Vouch recently became a reinsurance provider and expanded its product offering. It will use the funding to enhance its technical capabilities and build new embedded insurance products with its partners.
The rounds increased the company’s total funding to $160m. Accelerator operator Y Combinator’s Continuity Fund led its $45m series B round in November 2019.
Y Combinator had also joined 500 Startups and Index Ventures in a $24.5m series A round the month before that was co-led by SVB Financial Group and Ribbit Capital. The company was part of Y Combinator’s incubation programme and is also backed by Waterman Ventures and Alumni Ventures Group.