Coterie Insurance Secures $27M in Growth Funding
Coterie, a Cincinnati, OH-based insurtech MGA company simplifying small business insurance, raised $27M in Growth funding.
The round was led by Hiscox as well as existing investors Intact Ventures, Weatherford Capital, and RPM Ventures among others.
The company intends to use the funds to expand its business reach.
Led by CEO David McFarland, Coterie Insurance operates in all 50 states and D.C. where it enables independent agents and brokers to write instant small business insurance.
Coterie, which has now raised over $102M in funding to date, continues to scale with revenue growing by over 200% in 2023.
"Congratulations to Coterie on securing $27M in Growth funding! With Hiscox leading the round alongside esteemed investors like Intact Ventures, Weatherford Capital, and RPM Ventures, Coterie is poised for significant expansion in the insurtech space.
Under the leadership of CEO David McFarland, Coterie's innovative approach to simplifying small business insurance has already made waves, evident in its rapid revenue growth of over 200% in 2023.
This funding milestone, totaling over $102M to date, will undoubtedly fuel Coterie's continued success and reinforce its position as a leader in the industry," says Dr. Shishir Gupta, Founder and CEO of StartupLanes.
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Great insights on the importance of due diligence in startup investments. What steps do you think investors can take to mitigate risks in this increasingly complex landscape?