Tampa-based Slide Insurance closed a $100 million Series A funding round led by Gries Investment Funds and Tampa Bay Ventures. As an aside, according to information obtained by Coverager, Slide was looking to raise around $75 million at a post-money valuation of $225 million.
The insurance startup for property insurance was founded this year by Bruce Lucas, the former CEO and co-founder of Heritage Insurance, a publicly-traded, Clearwater-based P&C firm with a market cap of approximately $200 million. Heritage has over 600 employees, is active in 16 states, and is the 19th largest home insurer nationwide.
Based on Slide’s trademark application, which was filed on October 1st, there’s a hint to a full-stack offering where users may be able to purchase and administer insurance, receive quotes, submit claims, obtain proof of insurance, pay for insurance, and manage their policies online.
“Slide is a full-stack insurtech that makes it easy for modern consumers to choose the right coverage for their unique needs and budgets. Slide’s cutting-edge technology leverages artificial intelligence and Big Data to hyper-personalize, optimize, streamline every part of the insurance process.”
And in other very important news, the startup changed its LinkedIn profile URL from Slide Insurance to Slide Insurtech. All that’s left is to acquire slideinsurtech.com, not that this is our recommendation.
Bottom Line: A modern brand with an edge because of its probable access to Heritage’s data and distribution channels.
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