Congratulations to MTech portfolio company, Embroker, who announced their successful Series C financing in June. Embroker is an online commercial broker and MGA that provides a variety of SMB coverages, including its own offerings. The funding round was led by FTV Capital with additional investment from HSCM Bermuda, Gaingels and existing investors.
“For Embroker to truly forge a new approach to business insurance, we need to reimagine and rebuild every part of the process,” said Matt Miller, Embroker CEO. “Even as some of the surface-level elements of insurance have become increasingly customized and digitized, the underlying legacy systems and antiquated processes endemic to this industry are needlessly complex and require a substantial overhaul. This investment round will help us make business insurance a more streamlined and radically simple experience by accelerating our progress in building many of these systems from the ground up.”