Integrated Insurance Platform Mulberri Raises $4M Seed

SUNNYVALE, Calif.–(GOOD WIRE)–
MulberryThe business insurance platform for PEOs and modern brokers, announced that it has raised a $4 million Series Seed led by a consortium that includes Hanover Technology Management, MS&AD Venturesand Company proposal Altamont Capital Partners (through the insurance business in his 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 that has had a big impact on PEOs and brokers who want modern solutions, but don’t have access to them,” he said. Hamesh Chawla, CEO and co-founder of 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 With workflows, outdated processes, and reduced processes, business insurance processes have lagged behind other insurance sectors, which have embraced automation and data-driven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.

“Business insurance policies have been slow to expand,” he said Jon SobergManaging 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 that needs it — SMB, PEO, broker, and carrier — while maintaining automation and ease of use across the business. Mulberri uses convolutional neural networks that we’ve used successfully in other industries, from energy until safety,” he said. Joseph Malchowfounding 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/.

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Chelsea Allison
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Source: Mulberry