Stere Closes $2M Seed Funding Round led by Fin VC
Stere has created a digital and scalable version of what today is an inefficient manual marketplace. Stere’s digital ecosystem connects “capacity seekers” such as managing general agents (MGAs), program administrators and embedded insurance platforms with "capacity providers" – insurance carriers and reinsurers. Data analytics aids MGAs, brokers, and others with a more efficient process generating smarter and more profitable results.
Through Stere’s digital ecosystem, MGAs and other capacity seekers have unprecedented access to insurers and reinsurers as well as difficult-to-reach alternative risk capital providers. This accelerates speed-to-market and assures an optimal fit between an MGA and a capacity provider. Capacity providers benefit from a "smart underwriting pipeline" for vetted MGA programs and embedded insurance opportunities.
“Matching insurance capacity seekers with capacity providers is an inefficient process that relies on outmoded conventions and technologies. Stere simplifies the process and significantly improves the chances of long-term successful partnerships,” said
Stere’s target market of managing general agents, program administrators, and embedded insurance programs currently comprises approximately a
“Stere is well positioned to succeed in a fast-growing segment of the insurance industry that is ripe for modernization,” said
“Plug and Play is excited to invest in Stere,” said
Stere will use the funds from this round to grow staff, enhance its portfolio of data analytics, expand its footprint in the MGA and embedded insurance segments, and launch new APIs to better facilitate integration between capacity seekers and providers.
Stere, based in
About Stere
Stere is a digital ecosystem for insurance programs. With Stere, program leaders source capacity and access digital tools to launch sooner and grow faster and smarter. Stere clients are “capacity seekers” such as MGAs, program administrators, and embedded insurance programs, along with their ecosystem partners such as carriers, fronting carriers, reinsurers, brokers, program consultants, and technology providers. Visit www.stere.io or email [email protected] for a demo.
About Fin
Fin is a global asset management firm focused on full life cycle investing in B2B FinTech companies across the US,
Led by Founding Partner
The Fin team is comprised of former corporate and start-up operators and takes an active value-added approach to investing. It stewards portfolio companies through all stages of growth using its Operating Playbook to support business development, capital formation, corporate development, board advisory and talent sourcing. Fin is proudly an ESG-compliant manager and
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About HIMCO
HIMCO has been providing investment advice for over 40 years. With more than 130 investment professionals and approximately
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Source: Stere
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