Elevian Raises $40M Series A
18 Sep, 2021
– Shepherd, an insurtech startup focused on the construction market, has closed a $6.15m seed round led by Spark Capital.
– Susa Ventures also participated in Shepherd’s latest fundraising event.
– Thinking broadly, Shepherd fits into a theme of neoinsurance providers selling more to other companies than to consumers.
– Insurtech startups serving consumers enjoyed years of venture capital backing only to find their public debuts met with early optimism followed quickly by eroding share prices.
– But companies like Shepherd — and Blueprint Title earlier this week — are wagering on there being margin elsewhere in the insurance world to attack.
– For Shepherd, the construction market is its target, an industry that it intends to carve into starting with excess liability coverage.