Insurance start-up Sure has raised $8m in a series A funding round for its individualised mobile app-based coverage products, with investment led by IA Capital. Menlo Ventures, FF Venture Capital, Nationwide Ventures, Assurant and AmTrust also backed the New York and Los Angeles-based firm. The investment came as Sure unveiled a new smartphone insurance policy, which customers can buy at any time on their phone. “Sure’s app is designed to make it easier than ever before for people to get affordable coverage,” said CEO David DeAngelo.
Insurance start-up Sure has raised $8m in a series A funding round for its individualised mobile app-based coverage products, with investment led by IA Capital. Menlo Ventures, FF Venture Capital, Nationwide Ventures, Assurant and AmTrust also backed the New York and Los Angeles-based firm. The investment came as Sure unveiled a new smartphone insurance policy, which customers can buy at any time on their phone. Proprietary technology is able to run checks on the phone's condition and offer a coverage plan within minutes, the company said of the product, which it calls the first of its kind.