In January 2022, the company raised $25m in its Series B round. Credit: jd8/Shutterstock.

Parsyl, a supply chain insurtech company, has raised $20m in a Series C funding round to drive growth. 

The round was led by Lightsmith Group and joined by existing investors including HSCM Ventures, GLP Capital Partners, Lineage Ventures and FirstTracks Ventures. 

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Parsyl caters to a diverse clientele across various industries and regions, offering marine cargo insurance for goods both in storage and transit. 

Its offerings include cargo and stock throughput, shipper’s interest, cargo legal liability and warehouse legal liability. 

Currently, the start-up operates in the US and UK insurance markets via a managing general underwriter and its managed syndicate at Lloyd’s of London. 

Denver, Colorado-based Parsyl said it works with more than 20 third-party capacity providers across its operations, encompassing delegated underwriting, consortia, reinsurance and capacity providers from funds at Lloyd’s. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

By leveraging diversified supply chain data and employing cloud-based tools, GenAI and machine learning techniques, Parsyl aims to provide underwriting and cost benefits that lead to tailored coverage options for its customers. 

Parsyl claimed that it has experienced growth over the past 24 months by concentrating on insuring underserved food, beverage and pharmaceutical commodities within the marine cargo sector. 

Guy Carpenter Capital and Advisory provided advisory services for the funding, which will be used to strengthen the team and technology.   

Parsyl CEO and co-founder Ben Hubbard said: “This funding further validates our vision and will enable us to strengthen our team and our technology, while we expand our underwriting appetite, product offerings and geographies to impact more critical supply chains.” 

Lightsmith Group MD Jay Koh said: “Parsyl provides clients with a dynamic solution to this dynamic problem. We are proud to partner with Parsyl as they apply AI and data to help clients address critical supply chain risks. Climate resilience is supply chain resilience.” 

In January 2022,  the company raised $25m in its Series B round led by HSCM Ventures.  

The round included contributions from investors such as Lineage Ventures, Flexport Ventures and returning investors GLP Capital Partners and Luna.