TheGuarantors, a Chubb-linked insurtech for the rental industry, is launching a commercial real estate market product. The company has raised $32 million in venture capital and plans to launch its first product this year. Founded in 1957 by Chairman Larry Silverstein, the company has developed, owned and managed more than 40 million square feet of commercial, residential, retail and hotel space. Claimed to be an industry first, it will be funded by $15m secured in a series B round led by Global Founders Capital. The insurtech reports that more than $150bn of applicable US security deposits are frozen in commercial leases. The company achieved profitability within a few months of launching in 2016 and its platform is now used nationwide.
TheGuarantors, a Chubb-linked insurtech for the rental industry, is launching a commercial real estate market product. The company has raised $32 million in venture capital and plans to launch its first product this year. Claimed to be an industry first, it will be funded by $15m secured in a series B round led by Global Founders Capital. The insurtech reports that more than $150bn of applicable US security deposits are frozen in commercial leases. The company achieved profitability within a few months of launching in 2016 and its platform is now used nationwide.