"Insurtech Startup Authentic Raises $11M to Expand Operations and Develop Tech-Enabled Insurance Solutions"

Authentic Raises $11M in Series A Funding

Key Highlights:

• Series A Funding: Insurtech startup Authentic secures $11 million in Series A funding.
• Investors: FirstMark Capital led the round, with participation from Slow Ventures, Altai Ventures, MGV, Upper90, and Commerce Ventures.
• Expansion Plans: Funds will be used to expand operations and development efforts.

Authentic's Target Market

• Target Market: SaaS platforms, franchisors, associations, and other communities looking to offer captive insurance policies to their SMB customers.
• Small Business Groups and Individuals: Authentic's platform enables small business groups and individuals to access affordable captive insurance programs.
• Tech-Enabled Insurance Solutions: Partners can integrate Authentic's insurance product into their platforms with just one line of code.

What Authentic Needs to Buy

• Technology Development: Investments in technology and platform development to enhance the captive insurance offering.
• Marketing and Sales Support: Resources to drive customer acquisition and expand partnerships with SaaS platforms and franchisors.
• Operational Infrastructure: Investments in underwriting, claims handling, and capital management capabilities to support program growth.