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.
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