Authentic raises $5.5 million
Authentic Insurance, a NYC-based insurance startup, has raised $5.5 million in seed funding led by Slow Ventures, with participation from Altai Ventures, MGV, Clocktower, Commerce Ventures, Mischief Ventures, Core Innovation Capital, and Upper90.
Founded in 2022, Authentic enables SaaS platforms, associations, and other communities to create their own captive insurance programs. To start, Authentic is looking to partner with SaaS companies and associations serving SMBs. With “one line of code,” partners can offer their own insurance product and Authentic takes a fee for underwriting, claims handling, and managing capital markets & reinsurance.
Authentic’s fronting carrier is Everspan Insurance Company and it launched earlier this month.