Embroker is a technology company.
Embroker has raised $140.0M across 3 funding rounds.
Key people at Embroker.
Embroker has raised $140.0M in total across 3 funding rounds.
Key people at Embroker.
Embroker is a San Francisco-based insurtech company founded in 2015 that simplifies commercial insurance for businesses through a digital platform combining AI, machine learning, and expert brokerage.[3][5][7] It serves funded startups, tech companies, law firms, financial services, and other industries by offering tailored policies like Directors & Officers (D&O), Employment Practices Liability, Cyber, and Professional Liability, solving the complexity, friction, and inefficiency of traditional insurance buying with fast, online applications and management.[1][2][3][5] Key products include the Embroker ONE platform (launched 2023), a universal AI-driven application for customized coverage; Intelligent Startup Package (2018); and Embroker Access (2020) for brokers.[1][3][4][5] The company has shown growth momentum via a $100M raise in 2021, platform expansions into new verticals like law firms, and ongoing AI enhancements for seamless, low-friction experiences.[4][5]
Embroker was founded in 2015 by Matt Miller in San Francisco to transform the cumbersome commercial insurance market with a digital-first approach, pioneering online applications for all types of policies.[3][5][7] The idea emerged from recognizing inefficiencies in specialty lines like D&O and cyber insurance, leading to the first fully digital end-to-end products, such as the Intelligent Startup Package in 2018.[1][5] Pivotal moments include launching Embroker Access in 2020 for broker partnerships, raising $100M in 2021 from investors like FTV Capital and Bee Partners to fuel digital expansion, and debuting Embroker ONE in early 2023 under CEO Ben Jennings, which introduced AI/ML for universal applications and marked a shift to technology-led disruption.[1][2][4][5] Early traction came from targeting high-risk sectors like tech startups and professional services, evolving from basic digital quoting to comprehensive, industry-specific programs built on customer feedback and expert input.[1][4]
Embroker stands out in insurtech through these key strengths:
Embroker rides the insurtech wave disrupting a trillion-dollar commercial insurance industry plagued by manual processes and opacity, accelerated by rising cyber risks, regulatory demands, and digital business growth in tech-heavy sectors.[2][3][9] Timing aligns with AI/ML adoption post-2023, enabling automated underwriting amid economic pressures for cost efficiency—its ONE platform digitizes non-digital programs and integrates with partners, lowering barriers for SMBs and startups.[1][4] Market forces like increasing cyber threats (e.g., for SaaS/AI firms) and VC-fueled tech expansion favor its specialty focus, while it influences the ecosystem by empowering brokers via Access and setting standards for transparent, data-driven insurance that lets businesses prioritize innovation over admin.[2][5][6][8]
Embroker is positioned for expansion by scaling Embroker ONE across more verticals (e.g., real estate, marketplaces) with AI enhancements for predictive risk and partner networks, potentially capturing share in fragmented specialty lines.[1][3][4] Trends like Big Data integration, regulatory tech mandates, and SMB digitization will propel growth, evolving its hybrid model into a dominant "single destination" for commercial insurance. As insurtech matures, Embroker's tech-centric edge under Jennings could redefine buying experiences, amplifying its role from pioneer to ecosystem leader—transforming digital insurance from niche to essential for thriving businesses.[1][4][5]
Embroker has raised $140.0M in total across 3 funding rounds.
Embroker's investors include American Express Ventures, Better Tomorrow Ventures, Canaan Partners, Citi Ventures, Company Capital, Flying Fish Partners, F-Prime Capital Partners, MassMutual Ventures, Jeff Richards, Howard Lindzon, Tola Capital, XFactor Ventures.
Embroker has raised $140.0M across 3 funding rounds. Most recently, it raised $100.0M Series C in June 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jun 1, 2021 | $100.0M Series C | American Express Ventures, Better Tomorrow Ventures, Canaan Partners, Citi Ventures, Company Capital, Flying Fish Partners, F-Prime Capital Partners, MassMutual Ventures, Jeff Richards, Howard Lindzon, Tola Capital, XFactor Ventures, Darrell Cavens, Ron Suber | |
| Nov 1, 2018 | $28.0M Series B | American Express Ventures, Better Tomorrow Ventures, Bonfire Ventures, Canaan Partners, Citi Ventures, Company Capital, Dreamers VC, Flying Fish Partners, F-Prime Capital Partners, MassMutual Ventures, MTech Capital, Munich Re / HSB Ventures, Jeff Richards, Howard Lindzon, Thompson Hutton, LLC, Tola Capital, Wildcat Ventures, XFactor Ventures, Darrell Cavens, Rob Glaser, Ron Suber | |
| May 1, 2016 | $12.0M Series A | American Express Ventures, Better Tomorrow Ventures, Canaan Partners, Citi Ventures, Company Capital, F-Prime Capital Partners, MassMutual Ventures, Munich Re / HSB Ventures, Howard Lindzon, Thompson Hutton, LLC, Ron Suber |