Slice Labs Raises $20M in Extended Series A to Globalize its On-Demand Insurance Cloud Platform
Summary
NEW YORK--( BUSINESS WIRE )-- Slice Labs , a leading on-demand insurance cloud platform provider, today announced it has raised an additional $20 million in Series A funding, led by The Co-operators with participation from XL Innovate, Horizons, Munich Re/HSB Ventures, SOMPO, Veronorte, the investment arm of Grupo Sura, and JetBlue Technology Ventures.This sizable, extended round will be used to execute on the higher than planned global demand for Slice Insurance Cloud Services (ICS).“This exceptional bench of new and returning investors will be a tremendous asset as we continue scaling our business and experimenting with the unmatched potential of digital insurance.”“As the digital economy expands, Slice’s unique platform and approach will enable innovative, agile and needs-based insurance solutions for a rapidly changing world,” says Rob Wesseling, president and CEO of The Co-operators.The Slice Insurance Cloud Services platform (ICS) is powered by machine learning and advanced big data technologies along with Ph.D. behavioral science expertise.
Funding
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