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Slingshot Raises $27 Million Seed Funding For Embedded Insurance
Slingshot Insurance raised $27 million in seed funding co-led by Rally Ventures and Skyward Group.
Key points
- Slingshot Insurance raised $27 million in a seed round co-led by Rally Ventures and Skyward Group.
- The startup uses AI to help businesses offer embedded insurance policies by connecting them with backing insurers.
- Vertical Insure is the company's first customer and design partner, serving over 750,000 customers.
Why it matters. The company aims to reduce administrative work using AI, which could make inexpensive insurance policies less costly for businesses to offer.
Minneapolis-based AI-native embedded insurance startup Slingshot Insurance has emerged from stealth after raising $27 million in seed funding. The round was co-led by Rally Ventures and Skyward Group, with participation from industry veterans including Jim Hays. Slingshot uses AI to connect businesses with insurers to offer small policies during other purchases, such as flight bookings.
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Slingshot Raises $27 Million Seed Funding For Embedded Insurance
Slingshot Insurance, an AI-native embedded insurance startup based in Minneapolis, has emerged from stealth mode. The company secured $27 million in a seed funding round co-led by Rally Ventures and Skyward Group. The funding will be used to develop insurance products specifically for small-scale policies integrated into checkout processes. Several insurance industry veterans also participated in the investment round.