Vouch, insurance coverage for startups, raises $45 million

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(Information) – Vouch Insurance coverage, a platform providing enterprise insurance coverage for startups, mentioned on Wednesday that it raised $45 million and would develop into California.

Silicon Valley startups more and more are providing companies to different younger corporations, from human sources to start-up-focused bank cards.

The San Fransisco-based firm has raised $70 million thus far. The corporate declined to reveal its valuation. Y Combinator Continuity, the enterprise arm of Silicon Valley incubator Y Combinator, led the newest spherical.

The corporate’s co-founder and CEO, Sam Hodges, mentioned that Vouch, which launched in Utah and Illinois in September, plans to supply protection nationwide by the tip of 2020.

The corporate mentioned its insurance policies are backed by Munich Re, a serious reinsurance firm.

Reporting by Jane Lanhee Lee; Enhancing by Leslie Adler