Flock raises £12.2m in Series A funding led by Social Capital to expand into new geographies
The Series A round was led by Social Capital with participation from Anthemis and Dig Ventures.
Flock provides usage-based, real-time insurance products for commercial fleets and connected vehicles. The company uses proprietary risk intelligence engines to deliver dynamic policy pricing and safety insights.
London-based insurance technology company Flock has secured £12.2m in Series A funding to accelerate its expansion into new markets and product lines. The investment round was led by Californian firm Social Capital, with participation from existing backers Anthemis and Dig Ventures. The capital will be deployed to support the firm as it scales its digital insurance platform for commercial vehicle fleets.
From the founder
"Transportation is changing faster than ever, but the traditional insurance industry can’t keep up! The proliferation of electric cars, new business models such as ridesharing, and the emergence of autonomous vehicles pose huge challenges that traditional insurers just aren’t equipped for."
Ed Leon Klinger
CEO at Flock
Investor perspective
"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."
Chamath Palihapitiya
CEO, Social Capital
Use of funds
- 01Expand into international markets
- 02Continue product development