Integrated Insurance Platform Mulberri Raises $4M Seed

SUNNYVALE, Calif.–(BUSINESS WIRE)–Jul 28, 2022–

Mulberry, an insurance platform for modern business PEOs and brokers, announced that it has raised $4 million Series Seed led by a partnership that includes Hanover Technology Management, MS&AD Ventures, and Altamont Capital Partners (through insurance businesses in its portfolio). A shared platform that makes business insurance easier to access and manage, Mulberri will use the funding to continue expanding its infrastructure and data to make business insurance easier, more efficient, and more transparent.

“For too long, business insurance has been operating in the 20th century, and this has had huge implications for PEOs and brokers who want modern solutions, but don’t have access to them,” said Hamesh Chawla, CEO and founder. with Mulberri. . “We have been delighted by the enthusiastic response to Mulberri from investors and insurtechs. Looking to the future, we are excited to continue to develop our technology to help more PEOs and brokers reach their potential.”

The process of buying, selling, and managing business insurance has always been difficult, but increasingly it has become very slow. With workflows, outdated processes, and reduced processes, business insurance processes have lagged behind other insurance sectors, which have embraced automation and data-driven approaches. But that’s where Mulberri comes in.

Launched in 2021, Mulberri is the first business insurance solution designed for PEOs and brokers. Mulberri’s technology enables PEOs, brokers, and carriers to gather business records and help them make smarter, data-driven decisions.

“The business insurance industry has been poised for a renaissance,” said Jon Soberg, Managing Partner at MS&AD Ventures. “Mulberri recognized the problem and has developed a new way to change it.”

Mulberri delivers the speed, transparency, and functionality that PEOs and brokers have been asking for. The platform provides intelligent delivery, replication and construction, data-driven insurance management, and easily accessible security and monitoring services. It also improves PEO business processes, accelerates customer acquisition, and provides risk analysis by integrating with multiple systems such as HRIS, Payroll and others.

“Mulberri’s integrated platform empowers every organization in need — SMB, PEO, broker, and carrier — while maintaining automation and ease of use across the business. Mulberri uses neural networks that we’ve used successfully in other industries, from energy to security.” ,” said Joseph Malchow, founding partner of Hanover Technology Investment Management. “Ultimately, this means a fast-growing book and happy customers. Hanover is proud to partner with Hamesh and the Mulberri team to revolutionize business insurance.”

ABOUT MULBERRY

Mulberry is a pioneering integrated insurtech that is redefining the way insurance is delivered. Launched in 2021, Mulberri is the first business insurance solution designed for PEOs and brokers. Mulberri’s technology enables PEOs, brokers, and carriers to gather business records and help them make smarter, data-driven decisions. For more information, visit https://www.mulberri.io/.

Check the type of source businesswire.com:

CONTACT: MEDIA CONTACT

Chelsea Allison

chelsea@cmand.co

312.775.2856

KEY WORDS: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES TECHNOLOGY INSURANCE SOFTWARE VENTURE CAPITAL FINTECH

SOURCE: Mulberry

Copyright Business Wire 2022.

PUB: 07/28/2022 10:00 AM/DISC: 07/28/2022 10:02 AM

Copyright Business Wire 2022.