Mulberri, a Sunnyvale, CA-based AI-driven embedded business insurance platform for small and medium enterprises (SMEs), has raised $6.75 million in Series A funding.
The round was led by Eos Venture Partners, with participation from existing investors Hanover Technology Management, MS&AD Ventures, and Altamont Capital Partners (via insurance enterprises in its portfolio).
Eos Venture Partners is a global independent strategic venture capital fund manager focused exclusively on InsurTech, investing in early and growth-stage technology businesses that accelerate innovation and transformation across the insurance industry and value chain.
Zach Powell, General Partner of Eos Venture Partners, will join Mulberri as a board member.
Mulberri Use of Funds
The company will use the funding to expand the company's ecosystem and fulfill the risk management needs of small businesses more efficiently and transparently.
Founded in 2021, Mulberri is building AI-powered solutions that make business insurance processes simpler, more efficient, and transparent — enabling organizations to unlock new opportunities with agility, creativity, and purpose. It provides custom-fit solutions for small and medium enterprises through deep partnerships in the HR, benefits, and payroll sectors and other affinity SME channels. Mulberri’s platform offers an array of insurance solutions, including brokerage, risk transfer, certificate of insurance, and risk engines. Its ecosystem and partnerships enable access to more than 250 PEOs/ Payroll Providers/ Brokers covering about 100,000 small & medium enterprises.
Company: Mulberri, Inc.
Round: Series A
Funding Month: December 2023
Lead Investors: Eos Venture Partners
Additional Investors: Hanover Technology Management, MS&AD Ventures, and Altamont Capital Partners
Company Website: https://mulberri.io/
Software Category: Insurance Software