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Vertical Insure provides embedded insurance solutions, enabling digital platforms across various sectors to seamlessly integrate tailored coverage options directly into their existing transaction workflows. The company’s technology focuses on simple placement and payment processes, enhancing the user experience while allowing platforms to offer diverse protection products from registration cancellation to pet insurance and travel coverage. This approach offers a frictionless way for partners to generate new revenue streams.
The company's inception dates to 2021, co-founded by CEO Brock Noland. Noland's personal experience with the complexities and inefficiencies of insuring a pontoon boat sparked the realization that many low-value insurance policies are underserved by traditional brokers. This insight led to the creation of a digitized embedded insurance model, addressing market gaps and simplifying access to coverage for consumers. In 2023, Vertical Insure further expanded its capabilities through the acquisition of Next Wave Insurance Services.
Vertical Insure primarily serves platforms operating in areas such as youth sports, event management, education, and travel, empowering them to provide immediate, relevant insurance at the point of purchase. Its mission centers on making coverage accessible with every transaction by fostering active partnerships with platforms. The company envisions a future where integrated insurance becomes a standard component of online purchasing, delivering both convenience for end-users and added value for platform partners.
Vertical Insure has raised $15.0M across 3 funding rounds.
Vertical Insure has raised $15.0M in total across 3 funding rounds.
Vertical Insure is an embedded insurance platform designed for vertical SaaS platforms, enabling seamless integration of customized, white-label insurance products like event coverage, pet emergency insurance, youth sports protection, and more.[1][2][4] It serves SaaS companies in industries such as live events, pets, travel, property management, ticketing, and collectibles, solving the problem of fragmented, outdated insurance by leveraging platform data for tailored underwriting and deployment at the point of purchase—boosting revenue without IT overhead or user friction.[2][3][4][7] Founded in 2022 (with some sources noting 2020), the company raised $7.89M total, including a $4M seed round in 2022 co-led by Rally Ventures and Dundee VC, before merging with Next Wave Insurance Services in June 2023 to accelerate expansion into underserved verticals.[1][3][6]
This positions Vertical Insure at the intersection of insurtech and vertical SaaS, where platforms trustingly handle customer operations and seek adjacent revenue streams; embedded insurance can reportedly double SaaS revenue by addressing unmet protection needs with data-driven products.[3][7]
Vertical Insure emerged from a practical need spotted in everyday scenarios—like insuring a pontoon boat purchase—highlighting gaps in accessible coverage for niche activities, leading founders to build an embedded solution for platforms.[2] The team, boasting decades in data management and insurance, drew inspiration from experiences like SportsEngine (a vertical SaaS for youth sports), where millions of families lacked refund protection for registrations due to illness or injury; embedding insurance directly in checkout proved transformative.[3][7] Brock (likely a key figure) emphasized unlocking untapped platform data for underwriting, a "lightbulb moment" absent in existing third-party tools.[7]
Launched in 2022 in Minneapolis, Minnesota, it quickly raised $4M seed funding in December 2022 from Rally Ventures (led by Justin Kaufenberg, SportsEngine co-founder) and Dundee VC, fueling a pivotal 2023 acquisition of Next Wave Insurance Services—the youth sports insurance leader—propelling entry into events, pets, education, travel, and beyond.[1][2][3]
Vertical Insure rides the embedded insurance wave within insurtech, targeting the $1.3T+ U.S. market plagued by legacy tech and one-size-fits-all policies, by empowering vertical SaaS—the trusted hubs for industries like sports, events, and pets—to monetize data for point-of-sale protection.[3][7] Timing aligns with surging demand for on-demand coverage amid rising consumer purchases (travel, events, collectibles), where platforms hold rich behavioral data ideal for precise underwriting—unlocking novel products competitors overlook.[2][4][7]
Market tailwinds include SaaS maturation as "operating partners" and insurtech's shift to B2B2C models; Vertical Insure influences the ecosystem by enabling platforms to retain customers longer via value-adds, fostering loyalty and revenue diversification in fragmented verticals.[3][7]
Vertical Insure's merger-fueled momentum and seed capital position it for aggressive scaling across 10+ verticals, potentially launching data-native products in emerging areas like AI-driven risk prediction for short-term rentals or virtual events.[1][2][4] Trends like API-first insurtech adoption and regulatory easing for embedded models will amplify growth, especially as vertical SaaS consolidates data moats. Expect influence to grow via more acquisitions and partnerships, evolving from niche embedder to category leader—transforming "insurance as an afterthought" into a seamless revenue engine, much like the pontoon spark that ignited it.[2][7]
Vertical Insure has raised $15.0M across 3 funding rounds. Most recently, it raised $9.0M Series A in June 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 1, 2025 | $9M Series A | — | Bread And Butter Ventures, Matchstick Ventures, Story Ventures, Dafina Toncheva, Ellen PAO, John Fontein | Announced |
| Jan 1, 2023 | $2M Seed | Simon Burton | Bread And Butter Ventures, Matchstick Ventures, Story Ventures, Dafina Toncheva, Ellen PAO, John Fontein, Daren Cotter, Groove Capital | Announced |
| Dec 1, 2022 | $4M Seed | — | Hilarie Koplow Mcadams, Rally Ventures | Announced |
Vertical Insure has raised $15.0M in total across 3 funding rounds.
Vertical Insure's investors include Bread and Butter Ventures, Matchstick Ventures, Story Ventures, Dafina Toncheva, Ellen Pao, John Fontein, Simon Burton, Daren Cotter, Groove Capital, Hilarie Koplow-McAdams, Rally Ventures.
