State Auto Labs Fund: Funding, Team & Investors

State Auto Labs Fund operates as the corporate venture capital arm of State Automobile Mutual Insurance Company, operating with Rev1 Ventures. It strategically invests in technology companies innovating within the insurance industry. The fund focuses on solutions involving the Internet of Things, machine learning for data insights, new distribution technologies, and products addressing evolving customer demands in the insurance market.

The fund launched on September 28, 2017, as a collaboration between State Auto Labs, the innovation unit of State Automobile Mutual, and venture development organization Rev1 Ventures. This initiative stemmed from a need to accelerate technological advancement in insurance by connecting promising startups with capital and industry expertise.

State Auto Labs Fund supports InsurTech and FinTech startups shaping the future of insurance. It empowers these ventures through investment, technical mentorship, and access to key industry resources. The fund’s vision is to cultivate an ecosystem where innovative solutions are integrated, ultimately enhancing the efficiency and responsiveness of the broader insurance market.

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Apr 5, 2022	Relativity6	$5.3M Seed	—	Angel Ventures, Cortado Ventures, Vectr Ventures
Jul 1, 2021	Cape Analytics	$44.0M Series C	Akbar Poonawala	Accel, Cervin Ventures, Insight Partners, David Dubick, Brewer Lane Ventures, Formation 8, Hudson Structured Capital Management, State Farm Ventures, The Cincinnati Insurance Company, The Hartford
Nov 1, 2020	Flyreel	$10.0M Series A	IA Capital Group	Gradient Ventures, Donan Engineering, Gradient Ventures
Dec 1, 2019	Teraki	$11.0M Series A	Jonathan TAM	Alumni Ventures, Bascom Ventures, Baukunst, CRV, Future Energy Ventures, Magnetic Ventures, Modern Venture Partners, NEW Enterprise Associates (NEA), NextView Ventures, Sapphire Ventures, Sequoia Capital, Curtis LEE, Bright Success Capital, Castor Ventures, Innogy, Gibb Witham
May 1, 2019	Snapsheet	$29.0M Series E	Tola Capital	Ayana Capital LLC, Glilot Capital Partners, F Prime Capital, Liberty Mutual Strategic Ventures, Nationwide, OCA Ventures, Sedgwick, USAA
Jun 1, 2018	Cape Analytics	$17.0M Series A	XL Innovate	General Catalyst, LUX Capital, RIC Fulop, CSAA Insurance Group, Data Collective, Formation 8, Khosla Ventures, Montage Ventures, Nephila, Promus Ventures, The Cincinnati Insurance Company, The Hartford
Jun 1, 2018	Cape Analytics	$17.0M Series B	Martha Notaras	Accel, Brewer Lane Ventures, Cervin Ventures, Jenny Fielding, General Catalyst, Insight Partners, LUX Capital, Chad Nitschke, David Dubick, Marina Slutzky, RIC Fulop, CSAA Insurance Group, Data Collective, Formation 8, Khosla Ventures, Montage Ventures, Nephila, Promus Ventures, The Cincinnati Insurance Company, John Wilcox

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Apr 5, 2022	Relativity6	$5.3M Seed	—	Angel Ventures, Cortado Ventures, Vectr Ventures
Jul 1, 2021	Cape Analytics	$44.0M Series C	Akbar Poonawala	Accel, Cervin Ventures, Insight Partners, David Dubick, Brewer Lane Ventures, Formation 8, Hudson Structured Capital Management, State Farm Ventures, The Cincinnati Insurance Company, The Hartford
Nov 1, 2020	Flyreel	$10.0M Series A	IA Capital Group	Gradient Ventures, Donan Engineering, Gradient Ventures
Dec 1, 2019	Teraki	$11.0M Series A	Jonathan TAM	Alumni Ventures, Bascom Ventures, Baukunst, CRV, Future Energy Ventures, Magnetic Ventures, Modern Venture Partners, NEW Enterprise Associates (NEA), NextView Ventures, Sapphire Ventures, Sequoia Capital, Curtis LEE, Bright Success Capital, Castor Ventures, Innogy, Gibb Witham
May 1, 2019	Snapsheet	$29.0M Series E	Tola Capital	Ayana Capital LLC, Glilot Capital Partners, F Prime Capital, Liberty Mutual Strategic Ventures, Nationwide, OCA Ventures, Sedgwick, USAA
Jun 1, 2018	Cape Analytics	$17.0M Series A	XL Innovate	General Catalyst, LUX Capital, RIC Fulop, CSAA Insurance Group, Data Collective, Formation 8, Khosla Ventures, Montage Ventures, Nephila, Promus Ventures, The Cincinnati Insurance Company, The Hartford
Jun 1, 2018	Cape Analytics	$17.0M Series B	Martha Notaras	Accel, Brewer Lane Ventures, Cervin Ventures, Jenny Fielding, General Catalyst, Insight Partners, LUX Capital, Chad Nitschke, David Dubick, Marina Slutzky, RIC Fulop, CSAA Insurance Group, Data Collective, Formation 8, Khosla Ventures, Montage Ventures, Nephila, Promus Ventures, The Cincinnati Insurance Company, John Wilcox

State Auto Labs Fund

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Investment Activity

Investments Made