- A startup focused on insurance for company directors and officers has raised $10 million.
- San Francisco-based Anzen has raised funding in a round led by Andreessen Horowitz.
- Check out the 13 slide pitch decks Anzen used to raise new capital below.
Anzen, a US insurance startup focused on executive liability, has raised $10 million in new funding.
Founded in 2020, the San Francisco-based company specializes in directors and officers insurance (D&O). This is a requirement for companies to cover their officers and management to protect them from claims arising from their actions.
According to Anzen CEO Max Bruner, prices have increased in recent years following the SPAC boom.
“The responsibility of being a founder and owner is a lot of stress, and the more successful you are, the more responsibility you have,” Brunner told Insider.
“With approximately 42% of businesses being sued, D&O insurance is one of the most painful and expensive types of insurance to purchase. It takes time to be done. Butt.”
Derived from the Japanese word for safety, Anshin aims to provide insurance options for startups ranging from seed to Series C, along with a variety of non-tech businesses generating up to $100 million in annual revenue. increase.
Rather than competing on price with traditional players such as Chubb and Travelers Companies, Anzen will allow policyholders to connect to corporate human resources systems such as payroll and background checks for audit and compliance issues. Provides access to management and operations software.
Anzen’s pitch is that startups need to be able to act quickly to get cover, but a more comprehensive one that helps address a range of potential cybersecurity concerns around remote work and ESG-related disclosures. Risk management tools may be required.
Anzen’s funding comes from Andreessen Horowitz, Japanese insurer MS&AD Ventures and Tokio Marine. Additionally, AmTrust Financial and Greenlight Re joined the round as the company’s insurance partners, along with Everest Re.
“In 10 years of fundraising, I have never seen a market whiplash like this,” Brunner said. “The beginning of the year was a little bubbly, but then we had a complete price revision. It was a large and complex process.”
With the funding secured, Bruner, who previously launched two businesses and worked at Metromile, said he assembled the best team he had ever assembled to build the company. Some of the money was spent to find an insurer and build the company’s software, but the startup is now hiring more underwriters to keep up with demand, Bruner said. said Mr.
Check out Anzen’s 13 slide pitch deck below.