NOW Insurance, Targeting Small Business, Professionals, Closes on $2.5M Seed Round

Houston-based NOW Insurance, an AI-enabled insurance platform aimed at matching small business owners and professionals with commercial insurance coverage plans, has secured another $1.25 million in seed funding led by The MFO Group, bringing its total funding amount to $2.5 million since its founding in 2019.

Based in New Hampshire, MFO Group is a family office that focuses its investments in healthcare and emerging technologies.

With the funding, NOW Insurance will further invest in its machine learning algorithms, expand its software engineering team, and continue to develop its products and service offerings for small businesses and professionals.

Additional investors include the software firm, 8th Light — lead developers of the NOW Insurance platform — and Philip Cabaud, NOW Insurance’s co-founder and CEO. Cabaud also serves as CEO of Houston’s Greenhill Insurance Services. He is a former president of Mid-Continent General Agency, which was sold to Birmingham, Ala.-based ProAssurance Corp. in 2008.

NOW Insurance provides small business owners, health care practitioners and other professional classes with a seamless purchasing experience for general liability, professional liability, and cybersecurity insurance coverage, with plans to expand into other coverage areas

Source: NOW Insurance

Topics Commercial Lines Business Insurance