Mulberry Technology is a technology company.
Mulberry Technology has raised $35.0M across 3 funding rounds.
Mulberry Technology has raised $35.0M in total across 3 funding rounds.
Mulberry Technology has raised $35.0M in total across 3 funding rounds.
Mulberry Technology's investors include Abstract Ventures, Array Ventures, Commerce Ventures, Founder Collective, G20 Ventures, Launchpad Capital, Hans Tung, Wind Ventures, Marc Benioff, Pace Capital, Blumberg Capital, iNovia Capital.
Mulberry Technology is a New York-based software startup founded in 2018 that disrupts the $50B product insurance industry by providing consumer-first product protection solutions for ecommerce.[1][2][3] The company builds an ecommerce platform enabling retailers to offer personalized, embeddable protection plans against accidental damages and losses, serving online shoppers and retailers while solving issues like high markups, fine print, and poor claims experiences through AI-powered tools, low-cost plans, and seamless integrations with platforms like Shopify and BigCommerce.[1][2][4] With 60-74 employees, hybrid/remote work, and $26.9M in total funding (including a $22M round), Mulberry drives retailer revenue, customer loyalty, and conversions via features like post-purchase upsells and unlimited subscriptions, though it faces customer complaints about claims denials.[3][5]
Mulberry Technology was founded in 2018 by Chinedu Eleanya (CEO) in New York City, initially headquartered at 90 5th Ave and later moving to 250 Hudson St.[1][3][5] Emerging from frustration with the opaque, consumer-unfriendly extended warranty market, the idea centered on creating a "better product protection experience" via software that integrates directly into retail shopping flows, offering free/affordable plans without traditional insurance pitfalls.[1][2][3] Early traction came from partnering with retailers for online and in-store coverage, building a diverse, action-oriented team passionate about ecommerce, and securing funding to scale tech like AI claims processing amid hybrid growth across the US.[2][4]
Mulberry rides the ecommerce protection trend in a $50B market fragmented by legacy insurers, capitalizing on post-pandemic online shopping growth and demand for transparent, embedded fintech solutions that mimic "as-a-service" models like SaaS.[1][2][3] Timing aligns with AI advancements enabling instant claims and personalization, plus retailer needs for loyalty amid rising returns and cart abandonment; market forces like consumer distrust of warranties (e.g., fine print) favor Mulberry's streamlined approach.[4][5] It influences the ecosystem by partnering with brands like Poly & Bark, redefining warranties as revenue drivers, and expanding coverage to thousands of SKUs, though BBB complaints highlight execution risks in claims handling.[4][5]
Mulberry is poised to capture more of the product protection market through AI innovations and ecommerce expansions, potentially scaling via further funding or acquisitions amid rising online retail volumes.[3][4] Trends like embedded insurance, subscription models, and AI adjudication will shape its path, evolving its influence from niche disruptor to standard for retailer protections—provided it addresses claims disputes to build trust.[5] This positions Mulberry to deliver the confident shopping it promises, transforming warranties from afterthoughts to loyalty engines.
Mulberry Technology has raised $35.0M across 3 funding rounds. Most recently, it raised $22.0M Series B in October 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2021 | $22.0M Series B | Abstract Ventures, Array Ventures, Commerce Ventures, Founder Collective, G20 Ventures, Launchpad Capital, Hans Tung, Wind Ventures, Marc Benioff | |
| Sep 1, 2020 | $10.0M Series A | Founder Collective, G20 Ventures, Hans Tung, Pace Capital, Marc Benioff | |
| Jun 1, 2018 | $3.0M Seed | Blumberg Capital, Founder Collective, iNovia Capital, Lerer Hippeau |