Understory’s Post

Exciting News! Understory has successfully closed an oversubscribed $15 million Series A funding round, a significant milestone that propels our mission to protect climate-vulnerable industries from severe weather risks in the global renewable energy sector. The round is co-led by True Ventures and Prelude Ventures – strongly supporting our vision and growth potential. Thank you to our incredible investors for supporting us as we built a unique way to crack the code on climate risks. Your trust and partnership are invaluable as we continue to innovate and grow. With the infusion of this funding, we are poised to bring our proprietary risk mitigation technology to the renewable energy industry. Our Dealers Open Lot insurance solution has already made a significant impact, insuring over 1,000 rooftops nationwide and reducing claim trends by 60%. We are confident that we can replicate this success in the renewable energy sector, having already mitigated hail damage for both industries by over $65m! A big shout out to my co-founders, Neil B J Irwin and Bryan Dow, for their incredible dedication to this journey. I am incredibly excited about what we’ve created together and can’t wait to see where this rocketship takes us! Together, we are poised to restore and enhance insurance in a volatile global risk environment. Read more on TechCrunch: https://lnkd.in/gpat833V #Insurance #RenewableEnergy #ClimateRisk #SeriesAFunding #Understory