Cincinnati, Ohio-based insurtech Coterie, which specializes in commercial insurance, has closed an oversubscribed Series A financing round totaling $8.5 million from RPM Ventures, Allos Ventures, and others.
The company said it previously had raised $3.15 million bringing total venture funding to $11.65 million.
Coterie was founded to modernize commercial insurance. The company said it is providing new insurance products, sold in new ways, through new technology.
The deployment of the Series A capital will be focused on two main priorities for continued growth – customer acquisition and operations.
Investors in this Series A included: RPM Ventures, Allos Ventures, Western & Southern, Intercept Ventures, Frontier Venture Capital, and Sure Ventures as well as several former executives from the property and casualty insurance industry.
Coterie is led by David McFarland, founder and CEO.
Source: Coterie
Topics InsurTech Commercial Lines Tech Business Insurance Ohio
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