Techstars

Techstars Central LLC, founded in 2006 and based in Boulder, Colorado, operates as a startup accelerator and venture capital firm focused on supporting early-stage technology-oriented companies. It specializes in a mentorship-driven accelerator program, selecting ten startups each summer to participate in a three-month incubation period, offering funding of $120,000 in exchange for equity. Techstars invests primarily in sectors such as fintech, artificial intelligence, blockchain, augmented reality, and IoT, while avoiding investments in medical devices, healthcare technology, and local service-oriented businesses. In addition to its primary accelerator, Techstars has various specialized programs, including those focused on music, retail, mobility, and social impact, with global reach extending to regions such as Africa, Asia, and Latin America. The firm prefers taking minority stakes, typically between six and ten percent, without seeking board representation or investor rights. Techstars has built a robust network of entrepreneurs, mentors, and corporate partners to foster innovation and growth within its portfolio, which includes over 1,000 companies with a significant collective market capitalization.

Focus

Pre Seed Round Seed Round Artificial Intelligence Machine Learning Series A Show more

http://techstars.com/ventures

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Ethan Austin

MD of the Techstars Western Union Accelerator

Mark Tortorella

Advisor

Nathanial Zola

MD

Past deals in InsurTech

Rainwalk Technology

Seed Round in 2022

Rainwalk Technology is a SaaS cloud-native platform providing pet insurance. It offers pet rating, policy, and claims services through the Rainwalk Integration Framework, which is a set of API and utilities built to make connecting to legacy systems or modern insurance tech stacks easy. In addition to these three core services, it also provides full rate, rule, and form filing services, loss ratio commitments to protect their insurer partners' combined ratio, and sales and content design support delivered to agents and marketing teams. The company is headquartered in Columbia, South Carolina in 2018 by Tong Wu.

Pilotbird

Seed Round in 2022

Pilotbird is a SaaS platform for insurance companies that uses social data points to deliver value in key parts of the insurance value chain. Pilotbird empowers Life & Health insurance teams to better score risk, engage customers and detect claims fraud by analyzing social data points.

Openly

Series C in 2022

Openly Inc. is a technology-enabled insurance provider that specializes in homeowners insurance, catering to customers through independent agents. Founded in 2017 and headquartered in Boston, Massachusetts, with an additional office in Chicago, the company leverages technology and industry expertise to deliver comprehensive insurance coverage. Openly's offerings include protection for the structure of the building, walls, roof, and attached fixtures. The company focuses on providing a simplified quoting process, aiming to enhance the overall insurance experience for its customers.

AlliConnect

Non Equity Assistance in 2022

Thrivelution is disrupting the current market space by streamlining the process of connecting patients with providers, focusing on the quality of matches, and demonstrating a return on investment for small business owners.

Cedience

Pre Seed Round in 2021

Biotech Square is using artificial intelligence to reconstruct the regulatory journeys of drug development teams, highlight the lessons within and help them de-risk their next strategies.

Klaim

Seed Round in 2021

Klaim is an InsureTech platform offering a SaaS medical claim management and financing platform all in one. They provide them with total visibility on their revenue cycle, increase their revenue through reduced claim processing time and errors, and faster payments.

Klaim

Pre Seed Round in 2021

Everyday Life

Venture Round in 2020

Everyday Life Insurance uses technology to redefine financial security for middle income families. Its first product, Predictive Protection, saves consumers money by automatically adjusting coverage based on predictable life events like kids growing up or retirement. It was founded in 2018 and headquartered in Boston, Massachusetts.

The Helper Bees

Series A in 2020

The Helper Bees, Inc. is a company that facilitates connections between seniors and local helpers for various home care services across the United States. Founded in 2015 and based in Austin, Texas, the platform allows seniors to view, select, and hire assistance for tasks such as light housekeeping, transportation, grocery shopping, and personal care, including specialized services for conditions like Alzheimer’s and Parkinson’s disease. In addition to its direct services, The Helper Bees collaborates with major insurance carriers to enhance the home care experience through digital solutions, machine learning, and analytics. This approach aims to improve the accessibility and quality of care for families, ensuring they have the necessary resources and support for their loved ones.

Sprout.ai

Seed Round in 2020

AI powered Claims Automation & Fraud Filtering for Insurance Sprout.ai's Benefits: - Reduce settlement times with 50% - Increase fraud detection with 15% - Reduce operational costs with 70$ - Zero impact on IT roadmap - Industrial grade security Working with insurance players in USA, UK & Europe

Wunderite

Pre Seed Round in 2020

Wunderite, Inc. develops data exchange software for the insurance industry. The company's software provides digitalization of insurance submissions, leveraging data sets and APIs, and insights for decision makers. Its platform automates insurance applications. Wunderite, Inc. was founded in 2018 and is based in Bourne, Massachusetts

Seel

Pre Seed Round in 2019

Kover, formerly known as Omnipool, is an online insurance platform founded in 2018 and headquartered in San Francisco, California. The company specializes in providing customized insurance solutions tailored for freelancers and individuals engaged in everyday activities. Kover offers a range of products, including iPhone protection insurance and income loss protection for Uber and Lyft drivers, all accessible through its blockchain-based platform. By focusing on common, everyday risks rather than infrequent catastrophes, Kover aims to create a new category of insurance that delivers peace of mind to its users.

Seel

Convertible Note in 2019

Sprout.ai

Seed Round in 2019

MedPilot

Seed Round in 2018

MedPilot is a tool designed to make healthcare billings & collections departments more effective and efficient. Our software uses data science and behavioral targeting to recommend patient engagement methods, personalize communications and resolve outstanding balances. MedPilot’s analytics reporting can also increase the productivity of in-house & third party call centers. A Techstars Company

Aligned Biz

Pre Seed Round in 2018

Aligned Business has built and launched Origami, an end-to-end insurance platform that allows insurance companies and their distribution networks to fast configure on-demand digital insurance products in any language - changing today's costly and slow insurance product to market processes and delivering rapid digital transformation for insurance entities that operate multiline insurance products across geographic markets.

Buddy

Pre Seed Round in 2018

Buddy Technology, Inc. provides insurance brokerage services. It offers health and accidental insurance plans to customers who are involved in risky outdoor activities. The company also operates an online platform to provide the insurance plans and interact with customers. Buddy Technology, Inc. was founded in 2017 and is based in Richmond, Virginia.

Clyde

Pre Seed Round in 2018

Clyde Technologies, Inc. is an insurance technology company that provides a platform enabling businesses to offer extended warranties and accident protection to their customers. Founded in 2017 and based in New York, Clyde's platform allows retailers, regardless of size, to seamlessly deliver product protection plans to consumers during the shopping experience. By managing the entire process from purchase to claim resolution, Clyde enhances the customer experience and fosters a direct relationship between retailers and their clients. The platform connects businesses with a network of insurance providers, facilitating the acquisition of protection plans. This approach not only increases revenue for retailers but also lowers program maintenance costs and enhances customer loyalty.

MedPilot

Pre Seed Round in 2018

Openly

Seed Round in 2018

Felix

Pre Seed Round in 2018

Felix is a B2B SaaS platform to seamlessly connect insurers, intermediaries and their consumers to the insurance ecosystem. Their platform will allow traditional brokers to focus on their key strengths like product knowledge and underwriting whilst simultaneously delivering to their customers a digital experience that surpasses the experience offered by today’s online incumbents.

Nimis Cybersecurity

Seed Round in 2017

Techstars backed cybersecurity company using artificial intelligence to provide real time penetration testing

LeO

Seed Round in 2017

LeO is an AI-scaling platform for digital transformation for the insurance industry. Automating multiple customer-facing and agency-facing operations. LeO’s SaaS solution: Seamlessly integrates with the agency/company’s IT systems, automates processes from A-Z, provides smart insights, and executes upon them.