This past quarter has been busy for the Avanta Ventures team and our portfolio and Studios companies.
Managing Partner Sanjiv Parikh and Partner Steve Bernardez were named to the Global Corporate Venturing 2021 Powerlist. The GCV Powerlist uncovers the “vital few” exceptional people who strive to make the world a better place. This list of 100 ultimately is responsible for tens and hundreds of billions of dollars invested in the entrepreneurs who turn the ideas into products and services that are dramatically changing the world. Sanjiv and Steve were recognized for building a high-performing organization focused on InsurTech, Mobility, and Insurance Adjacent markets.
Portfolio company Kin Insurance agreed to go public via a merger with special-purpose acquisition corporation Omnichannel Acquisition Corp. InShare raised $7.5M in Seed Round. Avanta Ventures recently made a new investment in Blueprint Title welcoming them to our portfolio. Meanwhile, Cowbell Cyber launched a cyber risk exchange marketplace. Additionally, Studios Alumni, Koop Technologies, was featured in Forbes and received $2.5M in seed funding.
Sanjiv and Steve also had the honor to participate in a fireside chat with Upsie CEO and Founder Clarence Bethea at the 7th Annual Culture Shifting Weekend, hosted by Culture Shift Labs. Sanjiv, Steve, and Clarence spoke about the road leading to Upsie’s addition to the Avanta Ventures’ portfolio and the strengths of diversity in the industry.
In this month’s newsletter, we explore how embedded insurance is breaking traditional distribution channels to offer new opportunities, the state of autonomous vehicles in 2021 and implications for insurance, and why we invested in extended warranty provider Upsie.
Avanta Ventures’ Perspectives
Insurance-as-a-Service (IaaS) startups offer insurance and non-insurance companies modularized, or full-stack insurance solutions, disrupting traditional distribution channels.
Over the next decade, AVs are likely to be deployed commercially across a number of cities in the United States, creating unique opportunities and challenges for insurers.
The extended warranty market is evolving, and traditional property and casualty (P&C) insurers are recognizing the customer synergy of warranty and insurance.