California-based specialty insurance platform Vivere Partners has raised $7.5m in its Series A funding round to support its growth initiatives.
The investment round was led by General Catalyst, Pathlight Ventures and Greenlight Re.
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The capital will help Vivere speed up its expansion plans and hire “elite underwriting talent”.
It will also enable the company to develop its technological infrastructure.
With this funding, Vivere is positioned to rapidly scale, concentrating on delivering niche insurance offerings and establishing strong distribution networks.
Vivere founder and CEO Chris McKechnie said: “At Vivere, we aim to tackle these issues head-on with a foundation of strong underwriting, enhanced by data and technology.
“Our philosophy – Underwriting Driven, Tech Enabled – ensures our solutions are grounded in industry expertise and powered by innovation to stay ahead in a constantly evolving market.”
Vivere highlighted that while the managing general agency sector has expanded quickly, it intends to tackle two major ongoing issues.
The company is focused on resolving misalignment within the insurance value chain and increasing transparency across the industry.
Vivere CTO Sachith Gullapalli said: “In a data-powered future, we see technology as a force multiplier within the underwriting process where analytics and innovation empower underwriters to make smarter and faster decisions.
“This will result in a highly collaborative synergy between human expertise and AI capabilities.”
