The seed round was led by Octopus Ventures with participation from UNIQA Ventures and several angel investors.
"I’m very excited about the insurance proposition that Megan and Ana are creating for online sellers. It’s hugely relevant to the world we live in now."
SoftBank Vision Fund 2 led the Series B financing to fund international growth and new product development.
"We are delighted to have reached such a significant milestone in our funding journey. This transaction will allow us to continue our leadership in data-driven specialty (re)insurance underwriting and will be transformational for our business reach and activity. For the first time Envelop Risk will be able to assume positions in risk capital, which gives us greater alignment with our partners. We are all really excited to work with SoftBank Investment Advisers and together meet the huge opportunities that we see present in emerging and complex risk underwriting."
The Brighton-based insurtech secured its first external investment from Haatch Ventures to expand its artificial intelligence technology.
"We are known entities as a team, we were part of the founding team of INSHUR. I have been working behind the scenes on investment and go-to-market strategy since the start of the year. I have been impressed with the technical development and pleased to be bringing to market a genuine AI innovation. Not only does the product deliver profit and performance gains for the insurer, it delivers fair value for the end customer."
The Series A round was led by Social Capital with participation from Anthemis and Dig Ventures.
"Flock is bridging the gap between today’s insurance industry and tomorrow’s transportation realities. By using real-time data to truly understand vehicle risk, Flock is meeting the demands of our rapidly evolving, hyper-connected world. Flock has the potential to help unlock and enable a truly autonomous world, and even save lives. We’re excited to be a part of their journey."